General Mills, Inc. (NYSE:GIS) declared a quarterly dividend on Tuesday, June 25th, NASDAQ reports. Stockholders of record on Wednesday, July 10th will be given a dividend of 0.49 per share on Thursday, August 1st. This represents a $1.96 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, July 9th.
General Mills has increased its dividend payment by an average of 4.2% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. General Mills has a dividend payout ratio of 63.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect General Mills to earn $3.51 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 55.8%.
GIS stock opened at $53.44 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.37 and a current ratio of 0.59. The firm has a market capitalization of $32.17 billion, a PE ratio of 16.60, a P/E/G ratio of 2.27 and a beta of 0.77. The stock’s 50 day moving average is $52.53. General Mills has a 52 week low of $36.42 and a 52 week high of $54.74.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. On average, analysts predict that General Mills will post 3.37 EPS for the current fiscal year.
A number of analysts have issued reports on GIS shares. Bank of America set a $120.00 target price on shares of Walmart and gave the company a “buy” rating in a research note on Friday, May 17th. Guggenheim lifted their target price on shares of General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets reiterated a “sell” rating on shares of Bonterra Energy in a research note on Thursday, March 21st. UBS Group set a €83.00 ($96.51) target price on shares of Schneider Electric and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley lifted their target price on shares of General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $52.66.
About General Mills
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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