General Mills (NYSE:GIS) Given New $67.00 Price Target at Citigroup

by · The Markets Daily

General Mills (NYSE:GIS – Free Report) had its target price cut by Citigroup from $71.00 to $67.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently issued reports on GIS. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their target price on shares of General Mills from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and increased their price objective for the company from $78.00 to $80.00 in a research note on Friday, December 13th. Finally, Piper Sandler boosted their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.56.

View Our Latest Analysis on GIS

General Mills Trading Down 0.6 %

Shares of GIS opened at $63.61 on Thursday. The firm has a market capitalization of $35.31 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 3.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills has a 1-year low of $61.47 and a 1-year high of $75.90. The company has a 50-day moving average of $66.47 and a 200 day moving average of $68.11.

General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings results 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. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, research analysts expect that General Mills 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. Stockholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.77%. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling

In related news, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,230 shares of company stock worth $4,547,822 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On General Mills

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. acquired a new position in General Mills during the second quarter valued at $47,000. &PARTNERS raised its position in General Mills by 39.0% during the second quarter. &PARTNERS now owns 23,070 shares of the company’s stock valued at $1,459,000 after acquiring an additional 6,475 shares in the last quarter. Secure Asset Management LLC lifted its holdings in General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the period. Premier Path Wealth Partners LLC boosted its position in General Mills by 10.7% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 3,168 shares of the company’s stock worth $200,000 after purchasing an additional 307 shares in the last quarter. Finally, Tower Bridge Advisors grew its stake in shares of General Mills by 9.2% during the 2nd quarter. Tower Bridge Advisors now owns 4,730 shares of the company’s stock worth $299,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Company Profile

(Get Free Report)

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.

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