General Mills (GIS) Reaches New 52-Week High at $52.30

General Mills, Inc. (NYSE:GIS) shares hit a new 52-week high during mid-day 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.

GIS has been the subject of several research reports. Deutsche Bank upgraded shares of General Mills from a “hold” rating to a “buy” rating and increased their price target for the stock from $43.00 to $54.00 in a research note on Thursday, March 14th. ValuEngine raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. TheStreet raised shares of General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Wells Fargo & Co increased their price objective on shares of General Mills from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $55.00 price objective on shares of General Mills in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.91.

The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55. The firm has a market cap of $31.01 billion, a PE ratio of 16.71, a PEG ratio of 2.20 and a beta of 0.77.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 EPS. As a group, analysts predict that General Mills, Inc. will post 3.14 earnings per share for the current year.

In other news, CFO Donal L. Mulligan sold 120,722 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $47.50, for a total transaction of $5,734,295.00. Following the sale, the chief financial officer now owns 252,326 shares of the company’s stock, valued at approximately $11,985,485. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shawn P. Ogrady sold 118,152 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $48.50, for a total transaction of $5,730,372.00. Following the sale, the insider now directly owns 187,891 shares in the company, valued at approximately $9,112,713.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 444,222 shares of company stock worth $21,764,784. Insiders own 0.59% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Actinver Wealth Management Inc. purchased a new position in shares of General Mills in the fourth quarter worth approximately $991,000. Two Sigma Advisers LP boosted its holdings in shares of General Mills by 24.1% in the fourth quarter. Two Sigma Advisers LP now owns 897,719 shares of the company’s stock worth $34,957,000 after buying an additional 174,157 shares during the last quarter. Norges Bank purchased a new position in shares of General Mills in the fourth quarter worth approximately $208,406,000. DNB Asset Management AS boosted its holdings in shares of General Mills by 27.4% in the first quarter. DNB Asset Management AS now owns 110,514 shares of the company’s stock worth $5,719,000 after buying an additional 23,762 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of General Mills by 5.5% in the fourth quarter. Stifel Financial Corp now owns 1,864,294 shares of the company’s stock worth $72,721,000 after buying an additional 96,997 shares during the last quarter. 69.22% of the stock is currently owned by hedge funds and other institutional investors.

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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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