General Mills (GIS) Declares $0.54 Dividend

General Mills said on January 30, 2023 that its board of directors declared a regular quarterly dividend of $0.54 per share ($2.16 annualized). Shareholders of record as of April 6, 2023 will receive the payment on May 1, 2023. Previously, the company paid $0.54 per share.

At the current share price of $77.99 / share, the stock's dividend yield is 2.77%. Looking back five years and taking a sample every week, the average dividend yield has been 3.55%, the lowest has been 2.48%, and the highest has been 5.33%. The standard deviation of yields is 0.59 (n=236).

The current dividend yield is 1.32 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.44. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.10%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 6.74% Upside

As of February 2, 2023, the average one-year price target for General Mills is $83.24. The forecasts range from a low of $65.65 to a high of $99.75. The average price target represents an increase of 6.74% from its latest reported closing price of $77.99.

The projected annual revenue for General Mills is $19,751MM, an increase of 1.98%. The projected annual EPS is $4.15, a decrease of 14.20%.

Fund Sentiment

There are 2428 funds or institutions reporting positions in General Mills. This is an increase of 85 owner(s) or 3.63%.

Average portfolio weight of all funds dedicated to US:GIS is 0.3523%, an increase of 4.0178%. Total shares owned by institutions decreased in the last three months by 0.50% to 537,555K shares.

What are large shareholders doing?

Capital International Investors holds 36,994,875 shares representing 6.27% ownership of the company. In it's prior filing, the firm reported owning 38,357,799 shares, representing a decrease of 3.68%. The firm increased its portfolio allocation in GIS by 5.03% over the last quarter.

Capital Research Global Investors holds 26,207,590 shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 26,987,151 shares, representing a decrease of 2.97%. The firm increased its portfolio allocation in GIS by 4.01% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 17,763,081 shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 17,726,362 shares, representing an increase of 0.21%. The firm increased its portfolio allocation in GIS by 6.06% over the last quarter.

AMRMX - AMERICAN MUTUAL FUND holds 17,135,990 shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 17,366,090 shares, representing a decrease of 1.34%. The firm increased its portfolio allocation in GIS by 9.10% over the last quarter.

AMECX - INCOME FUND OF AMERICA holds 14,623,910 shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 16,686,077 shares, representing a decrease of 14.10%. The firm increased its portfolio allocation in GIS by 0.29% over the last quarter.

General Mills Background Information
(This description is provided by the company.)

General Mills is a leading global food company whose purpose is to make food the world loves. Its brands include Cheerios, Annie's, Yoplait, Nature Valley, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki, BLUE and more. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2020 net sales of U.S. $17.6 billion. In addition, General Mills' share of non-consolidated joint venture net sales totaled U.S. $1.0 billion.

This story originally appeared on Fintel.