General Mills, Inc. (NYSE:GIS) Receives $73.56 Average Target Price from Brokerages

Shares of General Mills, Inc. (NYSE:GIS) have received a consensus rating of “Hold” from the seventeen analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $71.56.

Several research firms have weighed in on GIS. Wells Fargo & Company dropped their price objective on General Mills from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and raised their price target for the stock from $78.00 to $80.00 in a research note on Friday, December 13th. Piper Sandler boosted their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Barclays reduced their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday.

General Mills Stock Down 0.6 %

Shares of NYSE GIS opened at $63.61 on Thursday. The company has a market cap 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 quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm’s fifty day moving average is $66.47 and its 200 day moving average is $68.11. General Mills has a 52 week low of $61.47 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, equities research analysts expect that General Mills will post 4.5 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.77%. General Mills’s dividend payout ratio is currently 57.14%.

Insider Activity

In related news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The trade was 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 over the last three months. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Arkadios Wealth Advisors lifted its stake in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after acquiring an additional 10,765 shares during the period. Janney Montgomery Scott LLC lifted its position in General Mills by 22.1% during the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after purchasing an additional 43,086 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after purchasing an additional 104,436 shares during the last quarter. Ellsworth Advisors LLC grew its position in General Mills by 105.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock worth $10,697,000 after purchasing an additional 74,456 shares during the period. Finally, AQR Capital Management LLC raised its stake in General Mills by 6.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,232 shares of the company’s stock valued at $73,206,000 after buying an additional 69,902 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Company Profile

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.