General Mills, Inc. (NYSE:GIS) Declares Quarterly Dividend of $0.61

General Mills, Inc. (NYSE:GIS) declared a quarterly dividend on Tuesday, September 29th. Investors of record on Tuesday, October 13th will be paid a dividend of $0.61 per share on Monday, November 2nd. This represents a $2.44 annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend is Tuesday, October 13th.

General Mills has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. General Mills has a payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect General Mills to earn $3.21 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 76.0%.

General Mills Price Performance

GIS stock opened at $33.80 on Wednesday. General Mills has a 12-month low of $31.75 and a 12-month high of $51.26. The stock has a market capitalization of $18.07 billion, a price-to-earnings ratio of -20.36, a PEG ratio of 1.81 and a beta of -0.01. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.66. The firm’s 50-day moving average price is $37.51 and its two-hundred day moving average price is $36.15.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. General Mills had a positive return on equity of 21.86% and a negative net margin of 4.89%.The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the business posted $0.86 EPS. The business’s revenue was down 2.8% on a year-over-year basis. As a group, equities analysts predict that General Mills will post 3.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GIS. Reflection Asset Management purchased a new stake in shares of General Mills during the fourth quarter worth approximately $25,000. Nalls Sherbakoff Group LLC purchased a new position in General Mills during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC raised its position in shares of General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after buying an additional 337 shares during the period. Brown Shipley& Co Ltd purchased a new stake in General Mills in the first quarter valued at $26,000. Finally, Main Street Group LTD acquired a new position in General Mills in the first quarter valued at about $27,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its products include cereal, snack bars, refrigerated dough, baking mixes, yogurt, soup, meals, frozen foods, and pet food, serving retail, foodservice, and pet channels.

The company’s portfolio includes well-known brands such as Cheerios, Betty Crocker, Pillsbury, Nature Valley, Yoplait, Häagen-Dazs, Old El Paso, Progresso, Totino’s, Annie’s, and Blue Buffalo. General Mills sells its products primarily in the United States and also serves consumers in international markets across multiple regions.

General Mills traces its history to the Minneapolis Milling Company, established in 1856, and adopted the General Mills name following a 1928 combination of several milling businesses.