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General Mills (NYSE:GIS) Stock Rating Upgraded by Wall Street Zen

General Mills logo with Consumer Staples background

Key Points

  • General Mills' stock rating was upgraded from a "sell" to a "hold" by Wall Street Zen, reflecting a more cautious outlook from analysts.
  • The company's stock currently holds a consensus rating of "Hold" with an average target price of $59.73.
  • Despite a reported earnings beat, General Mills experienced a 3.3% year-over-year revenue decline with current earnings projected at 4.36 EPS for the current year.
  • MarketBeat previews top five stocks to own in September.

Wall Street Zen upgraded shares of General Mills (NYSE:GIS - Free Report) from a sell rating to a hold rating in a research report sent to investors on Sunday.

A number of other equities research analysts have also commented on the company. The Goldman Sachs Group lowered General Mills from a "buy" rating to a "neutral" rating and lowered their price target for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Stifel Nicolaus lowered their price target on General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and decreased their target price for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Wells Fargo & Company set a $53.00 target price on General Mills and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Finally, UBS Group decreased their target price on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research report on Thursday, June 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $59.73.

Get Our Latest Report on GIS

General Mills Stock Down 0.1%

Shares of GIS traded down $0.04 during trading hours on Friday, reaching $48.94. The stock had a trading volume of 5,271,208 shares, compared to its average volume of 5,752,542. General Mills has a 12 month low of $48.59 and a 12 month high of $75.90. The firm has a 50-day simple moving average of $52.24 and a 200 day simple moving average of $56.25. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $26.55 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.23 and a beta of -0.01.

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

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio is currently 59.51%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Garde Capital Inc. grew 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. Perkins Coie Trust Co grew 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. Transce3nd LLC bought a new position in General Mills in the 4th quarter worth about $32,000. Armstrong Advisory Group Inc. bought a new position in General Mills in the 2nd quarter worth about $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in General Mills in the 1st quarter worth about $34,000. Institutional investors own 75.71% of the company's stock.

About General Mills

(Get Free Report)

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.

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