General Mills (NYSE:GIS) Reaches New 52-Week Low – Here’s What Happened

by · The Cerbat Gem

General Mills, Inc. (NYSE:GIS – Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $45.65 and last traded at $45.8160, with a volume of 2893117 shares. The stock had previously closed at $47.07.

Analyst Ratings Changes

GIS has been the subject of a number of analyst reports. Jefferies Financial Group cut their target price on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, September 8th. Mizuho reduced their target price on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, September 19th. JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 target price (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Finally, HSBC dropped their target price on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $55.82.

Check Out Our Latest Research Report on General Mills

General Mills Trading Down 0.5%

The company has a market cap of $24.52 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 0.86 and a beta of -0.07. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The business’s 50-day simple moving average is $47.92 and its 200-day simple moving average is $50.11.

General Mills (NYSE:GIS – Get Free Report) last released its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the business earned $1.07 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 9th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, January 9th. General Mills’s payout ratio is 46.12%.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Mills

Several large investors have recently added to or reduced their stakes in GIS. Allworth Financial LP boosted its stake in General Mills by 4.9% in the 3rd quarter. Allworth Financial LP now owns 24,383 shares of the company’s stock worth $1,229,000 after buying an additional 1,137 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of General Mills by 20.1% during the 3rd quarter. IFP Advisors Inc now owns 8,079 shares of the company’s stock worth $407,000 after acquiring an additional 1,354 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of General Mills by 6.4% in the third quarter. Swiss Life Asset Management Ltd now owns 216,249 shares of the company’s stock worth $10,903,000 after acquiring an additional 12,967 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of General Mills in the third quarter worth approximately $411,000. Finally, Cambria Investment Management L.P. purchased a new stake in General Mills in the third quarter valued at approximately $331,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Company Profile

(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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