General Mills (NYSE:GIS) Reaches New 52-Week Low - What's Next?

General Mills, Inc. (NYSE:GIS - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $58.20 and last traded at $58.28, with a volume of 1420468 shares changing hands. The stock had previously closed at $58.78.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of General Mills from $74.00 to $68.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Piper Sandler boosted their price objective on General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, September 19th. Citigroup lowered their target price on General Mills from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. Bank of America upgraded General Mills from a "neutral" rating to a "buy" rating and upped their price target for the stock from $78.00 to $80.00 in a report on Friday, December 13th. Finally, Wells Fargo & Company lowered their price objective on shares of General Mills from $68.00 to $64.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $71.31.

General Mills Stock Performance

The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The firm has a market cap of $32.15 billion, a P/E ratio of 13.89, a PEG ratio of 3.47 and a beta of 0.11. The stock's 50 day moving average is $64.15 and its two-hundred day moving average is $67.64.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company's revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.12%. General Mills's payout ratio is presently 52.17%.

Insider Transactions at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maria Sastre sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now directly owns 23,013 shares of the company's stock, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,541 shares of company stock valued at $3,321,170. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On General Mills

Institutional investors and hedge funds have recently bought and sold shares of the business. Values First Advisors Inc. bought a new position in shares of General Mills in the third quarter valued at about $27,000. Planning Capital Management Corp raised its stake in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company's stock worth $37,000 after acquiring an additional 193 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of General Mills during the second quarter worth approximately $42,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Mills during the third quarter valued at approximately $44,000. Finally, Rise Advisors LLC grew its stake in shares of General Mills by 46.7% during the third quarter. Rise Advisors LLC now owns 606 shares of the company's stock valued at $45,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Company Profile

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.