General Mills, Inc. (NYSE:GIS) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $52.30 and last traded at $52.15, with a volume of 174011 shares traded. The stock had previously closed at $51.79.
Several research analysts have commented on GIS shares. TheStreet raised shares of General Mills from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Deutsche Bank raised shares of General Mills from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $54.00 in a research note on Thursday, March 14th. Guggenheim reaffirmed a “buy” rating on shares of General Mills in a research note on Tuesday, February 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of General Mills in a research note on Wednesday, March 20th. Finally, Morgan Stanley lifted their price objective on shares of General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $49.91.
The company has a market cap of $31.01 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.14. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. As a group, analysts anticipate that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
In related news, CFO Donal L. Mulligan sold 126,337 shares of General Mills stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $50.00, for a total value of $6,316,850.00. Following the completion of the sale, the chief financial officer now directly owns 378,663 shares in the company, valued at $18,933,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John R. Church sold 4,719 shares of General Mills stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the sale, the insider now owns 34,112 shares of the company’s stock, valued at $1,732,207.36. The disclosure for this sale can be found here. Insiders sold 444,222 shares of company stock valued at $21,764,784 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Abbot Financial Management Inc. bought a new position in General Mills in the first quarter worth about $261,000. BlueCrest Capital Management Ltd bought a new position in General Mills in the first quarter worth about $348,000. RMB Capital Management LLC bought a new position in General Mills in the first quarter worth about $350,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in General Mills by 9.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 282,284 shares of the company’s stock worth $14,584,000 after purchasing an additional 23,635 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in General Mills by 57.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 687 shares of the company’s stock worth $36,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 69.22% of the company’s stock.
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General Mills Company Profile (NYSE:GIS)
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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