General Mills said on June 28, 2023 that its board of directors declared a regular quarterly dividend of $0.59 per share ($2.36 annualized). Previously, the company paid $0.54 per share.
Shares must be purchased before the ex-div date of July 7, 2023 to qualify for the dividend. Shareholders of record as of July 10, 2023 will receive the payment on August 1, 2023.
At the current share price of $80.90 / share, the stock's dividend yield is 2.92%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.42%, the lowest has been 2.39%, and the highest has been 5.33%. The standard deviation of yields is 0.60 (n=235).
The current dividend yield is 0.84 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.45. 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.
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What is the Fund Sentiment?
There are 2501 funds or institutions reporting positions in General Mills. This is an increase of 1 owner(s) or 0.04% in the last quarter. Average portfolio weight of all funds dedicated to GIS is 0.32%, a decrease of 1.76%. Total shares owned by institutions increased in the last three months by 0.15% to 534,349K shares. 
The put/call ratio of GIS is 0.48, indicating a bullish outlook.
Analyst Price Forecast Suggests 6.80% Upside
As of June 1, 2023, the average one-year price target for General Mills is 86.40. The forecasts range from a low of 67.67 to a high of $101.85. The average price target represents an increase of 6.80% from its latest reported closing price of 80.90.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for General Mills is 19,751MM, a decrease of 1.02%. The projected annual non-GAAP EPS is 4.15.
What are Other Shareholders Doing?
Capital International Investors holds 33,535K shares representing 5.71% ownership of the company. In it's prior filing, the firm reported owning 33,067K shares, representing an increase of 1.40%. The firm decreased its portfolio allocation in GIS by 0.95% over the last quarter.
Capital Research Global Investors holds 22,425K shares representing 3.82% ownership of the company. In it's prior filing, the firm reported owning 22,712K shares, representing a decrease of 1.28%. The firm decreased its portfolio allocation in GIS by 4.98% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 18,253K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 18,035K shares, representing an increase of 1.20%. The firm decreased its portfolio allocation in GIS by 4.75% over the last quarter.
AMRMX - AMERICAN MUTUAL FUND holds 17,136K shares representing 2.92% ownership of the company. No change in the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 13,759K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 13,719K shares, representing an increase of 0.29%. The firm decreased its portfolio allocation in GIS by 5.21% 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.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
