General Mills (NYSE:GIS) Hits New 52-Week Low - What's Next?

General Mills, Inc. (NYSE:GIS - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $49.86 and last traded at $50.77, with a volume of 500572 shares traded. The stock had previously closed at $50.59.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group lowered their price target on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on General Mills and gave the stock an "equal weight" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their price target on General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Bank of America decreased their price objective on General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, Stifel Nicolaus decreased their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $59.73.

General Mills Stock Performance

The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. The stock has a 50 day simple moving average of $53.49 and a two-hundred day simple moving average of $57.41. The stock has a market capitalization of $27.99 billion and a P/E ratio of 12.59.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The business's revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. On average, equities analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 4.73%. This is an increase from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, July 10th. General Mills's dividend payout ratio (DPR) is currently 59.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Garde Capital Inc. boosted its stake in shares of General Mills by 101.5% during the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company's stock worth $27,000 after acquiring an additional 264 shares during the period. CBIZ Investment Advisory Services LLC bought a new position in shares of General Mills during the 4th quarter worth approximately $30,000. Perkins Coie Trust Co boosted its stake in shares of General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares during the period. VSM Wealth Advisory LLC bought a new position in shares of General Mills during the 4th quarter worth approximately $32,000. Finally, Transce3nd LLC bought a new position in shares of General Mills during the 4th quarter worth approximately $32,000. 75.71% of the stock is currently owned by institutional investors.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.