General Mills (NYSE:GIS) Given New $68.00 Price Target at Barclays

by · The Markets Daily

General Mills (NYSE:GIS – Free Report) had its price target reduced by Barclays from $74.00 to $68.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also commented on the stock. TD Cowen dropped their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday. Citigroup cut their price target on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday. 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 report on Thursday, September 19th. Finally, Wells Fargo & Company dropped their target price on shares of General Mills from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $71.56.

Read Our Latest Research Report on General Mills

General Mills Stock Performance

NYSE:GIS opened at $63.61 on Friday. The company has a fifty day simple moving average of $66.47 and a two-hundred day simple moving average of $68.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. General Mills has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10.

General Mills (NYSE:GIS – Get Free Report) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts anticipate that General Mills will post 4.5 earnings per share for the current fiscal year.

General Mills Announces Dividend

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 payout ratio is currently 57.14%.

Insider Activity at General Mills

In related news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,230 shares of company stock worth $4,547,822. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On General Mills

A number of large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of General Mills by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 792,993 shares of the company’s stock worth $58,563,000 after purchasing an additional 27,847 shares during the last quarter. Birmingham Capital Management Co. Inc. AL lifted its holdings in General Mills by 9.3% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 14,907 shares of the company’s stock worth $1,101,000 after buying an additional 1,267 shares during the last quarter. Inspire Trust Co. N.A. grew its position in shares of General Mills by 28.6% in the 3rd quarter. Inspire Trust Co. N.A. now owns 45,000 shares of the company’s stock worth $3,323,000 after acquiring an additional 10,000 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of General Mills by 0.7% during the third quarter. Franklin Resources Inc. now owns 438,014 shares of the company’s stock valued at $31,025,000 after acquiring an additional 2,842 shares during the period. Finally, Synovus Financial Corp increased its holdings in shares of General Mills by 72.6% in the 3rd quarter. Synovus Financial Corp now owns 517,820 shares of the company’s stock worth $38,241,000 after acquiring an additional 217,774 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

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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