General Mills, Inc. (NYSE:GIS) Receives $63.07 Average Price Target from Analysts


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Shares of General Mills, Inc. (NYSE:GIS) have been given an average rating of “Hold” by the fifteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $63.07.

GIS has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of General Mills from $62.00 to $55.00 in a research report on Tuesday, January 19th. Jefferies Financial Group decreased their price objective on shares of General Mills from $64.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, January 12th. Morgan Stanley decreased their price objective on shares of General Mills from $63.00 to $57.00 and set an “equal weight” rating for the company in a research report on Thursday, January 14th. Finally, Credit Suisse Group reduced their target price on shares of General Mills from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, March 29th.

In related news, CAO Mark A. Pallot sold 1,574 shares of the business’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $62.49, for a total transaction of $98,359.26. Following the transaction, the chief accounting officer now owns 13,760 shares in the company, valued at approximately $859,862.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Kerry Clark sold 11,398 shares of the business’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $61.41, for a total transaction of $699,951.18. Following the transaction, the director now owns 65,199 shares in the company, valued at approximately $4,003,870.59. The disclosure for this sale can be found here. Insiders have sold a total of 62,532 shares of company stock worth $3,821,346 in the last quarter. 0.51% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in General Mills during the fourth quarter worth about $385,851,000. Federated Hermes Inc. boosted its position in General Mills by 183.8% during the fourth quarter. Federated Hermes Inc. now owns 4,137,872 shares of the company’s stock worth $243,307,000 after purchasing an additional 2,679,622 shares during the period. Cooke & Bieler LP boosted its position in General Mills by 14,091.2% during the fourth quarter. Cooke & Bieler LP now owns 943,717 shares of the company’s stock worth $55,490,000 after purchasing an additional 937,067 shares during the period. Voloridge Investment Management LLC boosted its position in General Mills by 2,173.5% during the fourth quarter. Voloridge Investment Management LLC now owns 894,380 shares of the company’s stock worth $52,590,000 after purchasing an additional 855,040 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in General Mills by 125.3% during the fourth quarter. State of Wisconsin Investment Board now owns 1,274,201 shares of the company’s stock worth $74,923,000 after purchasing an additional 708,687 shares during the period. Institutional investors own 73.17% of the company’s stock.

General Mills stock traded up $0.73 during mid-day trading on Friday, reaching $60.86. The company’s stock had a trading volume of 40,194 shares, compared to its average volume of 4,855,881. The company has a market capitalization of $37.12 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.98 and a beta of 0.57. General Mills has a 12 month low of $53.96 and a 12 month high of $66.14. The business’s 50 day simple moving average is $58.65 and its 200 day simple moving average is $59.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.55 and a current ratio of 0.76.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Tuesday, March 23rd. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). General Mills had a net margin of 13.16% and a return on equity of 28.60%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period last year, the business earned $0.77 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that General Mills will post 3.73 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Friday, April 9th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, April 8th. General Mills’s dividend payout ratio is currently 56.51%.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Analyst Recommendations for General Mills (NYSE:GIS)

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