In yesterday’s Wall Street session, General Mills Inc. (NYSE:GIS) shares traded at $64.99, down -1.34% from the previous session.
19 analysts cover General Mills Inc. (NYSE:GIS), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $91.00 and a low of $69.00, we find $72.00. Given the previous closing price of $65.87, this indicates a potential upside of 9.31 percent. GIS stock price is now -11.03% away from the 50-day moving average and -19.45% away from the 200-day moving average. The market capitalization of the company currently stands at $38.57B.
The stock has received a hold rating from 12 analysts and a buy rating from 3. Brokers who have rated the stock have averaged $76.24 as their price target over the next twelve months.
With the price target maintained at $72, Exane BNP Paribas recently Downgraded its rating from Outperform to Neutral for General Mills Inc. (NYSE: GIS).
In other news, Cordani David, Director sold 8,675 shares of the company’s stock on May 17. The stock was sold for $776,847 at an average price of $89.55. Upon completion of the transaction, the Director now directly owns 7,885 shares in the company, valued at $0.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 16, Chief Accounting Officer Pallot Mark A sold 4,081 shares of the business’s stock. A total of $368,591 was realized by selling the stock at an average price of $90.32. This leaves the insider owning 13,121 shares of the company worth $0.85 million. Insiders disposed of 438,185 shares of company stock worth roughly $28.48 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GIS stock. A new stake in General Mills Inc. shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $74,501,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND invested $38,994,000 in shares of GIS during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in General Mills Inc. valued at approximately $19,406,000. EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in GIS for approximately $14,465,000. TWINBEECH CAPITAL LP purchased a new stake in GIS valued at around $8,238,000 in the second quarter. In total, there are 2,135 active investors with 78.10% ownership of the company’s stock.
On Thursday morning General Mills Inc. (NYSE: GIS) stock kicked off with the opening price of $65.86. During the past 12 months, General Mills Inc. has had a low of $65.43 and a high of $90.89. As of last week, the company has a debt-to-equity ratio of 1.12, a current ratio of 0.70, and a quick ratio of 0.40. According to the stock market information, the enterprise value for the company is $49.64B, which is based on a 15.07 price-to-earnings ratio, a 1.91 price-to-earnings-growth ratio, and a beta of 0.23. The fifty day moving average price for GIS is $72.73 and a two-hundred day moving average price translates $80.61 for the stock.
The latest earnings results from General Mills Inc. (NYSE: GIS) was released for May, 2023. According to the Packaged Foods Company, earnings per share came in at $1.12, beating analysts’ expectations of $1.07 by 0.05. This compares to $1.35 EPS in the same period last year. The net profit margin was 12.90% and return on equity was 25.10% for GIS. The company reported revenue of $5.03 billion for the quarter, compared to $4.89 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.84 percent. For the current quarter, analysts expect GIS to generate $4.9B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/01/2023. Investors who held shares on 07/10/2023 were paid a $0.59 dividend. On an annualized basis, this represents a $2.36 dividend and a 3.63% percent yield. There was an ex-dividend date of 07/07/2023 for this dividend. In terms of dividend payout ratio, GIS is presently at 49.60%.
