General Mills, Inc. (GIS) to Issue Quarterly Dividend of $0.60 on November 1st

General Mills, Inc. (NYSE:GIS) announced a quarterly dividend on Tuesday, September 24th, NASDAQ reports. Investors of record on Thursday, October 10th will be paid a dividend of 0.60 per share on Friday, November 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Thursday, October 10th.

General Mills has increased its dividend payment by an average of 4.5% per year over the last three years. General Mills has a dividend payout ratio of 50.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect General Mills to earn $4.69 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 51.2%.

General Mills Stock Performance

GIS opened at $73.76 on Thursday. 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 company has a market capitalization of $41.17 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 3.82 and a beta of 0.10. General Mills has a 1 year low of $60.33 and a 1 year high of $75.90. The business’s 50-day moving average price is $70.36 and its two-hundred day moving average price is $68.69.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. Equities analysts expect that General Mills will post 4.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Barclays increased their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Wells Fargo & Company increased their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Finally, Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus target price of $72.73.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

About General Mills

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.