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General Mills stock has reached a new 52-week low, trading at 48.57 USD, down from its 52-week high of 75.90 USD. This milestone comes amid a challenging year for the company, with a -31.59% decline. Despite the downturn, InvestingPro analysis shows the company maintains a robust 4.95% dividend yield, having sustained dividend payments for 55 consecutive years. The decline reflects broader market trends and specific challenges faced by the consumer goods sector. Trading at a P/E ratio of 11.92, the stock appears attractively valued compared to historical levels. Investors are closely watching how General Mills navigates these pressures and whether it can regain momentum in the coming months. For deeper insights and additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, General Mills announced a $54 million investment to expand its James Ford Bell Technical Center in Golden Valley, Minnesota. This expansion includes a new 35,000-square-foot, two-story pilot plant wing, marking the largest investment in the center since its construction in 1960. Additionally, General Mills has completed the sale of its U.S. yogurt business to Lactalis, which includes several yogurt brands and manufacturing facilities in Tennessee and Michigan. Analyst opinions on General Mills show mixed perspectives. Piper Sandler reiterated an Overweight rating with a $60 price target, emphasizing the company’s focus on innovation for future growth. Conversely, JPMorgan downgraded the stock to Underweight, citing concerns about the earnings outlook and recent guidance cuts. Meanwhile, Stifel maintained a Buy rating with a $56 price target after discussions with company leadership. These developments reflect ongoing strategic changes and varied analyst expectations for General Mills.
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