General Mills (NYSE:GIS) PT Lowered to $63.00

General Mills (NYSE:GIS) had its price target cut by JPMorgan Chase & Co. from $70.00 to $63.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the stock. HSBC lifted their price objective on shares of General Mills from $74.00 to $76.00 and gave the company a hold rating in a report on Thursday, March 21st. Stifel Nicolaus decreased their price objective on General Mills from $77.00 to $70.00 and set a buy rating for the company in a research note on Thursday. Bank of America lifted their target price on General Mills from $68.00 to $72.00 and gave the company a neutral rating in a research note on Thursday, March 21st. TD Cowen lifted their price objective on shares of General Mills from $68.00 to $70.00 and gave the stock a market perform rating in a research report on Thursday, March 21st. Finally, Morgan Stanley increased their target price on shares of General Mills from $58.00 to $61.00 and gave the company an underweight rating in a research report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $70.72.

General Mills Stock Down 0.7 %

Shares of NYSE GIS opened at $63.71 on Thursday. The stock has a 50 day moving average price of $68.76 and a 200 day moving average price of $66.79. The firm has a market capitalization of $36.18 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 3.13 and a beta of 0.12. General Mills has a 52-week low of $60.33 and a 52-week high of $78.88. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that General Mills will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.77%. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s payout ratio is presently 54.13%.

Insider Activity

In related news, insider Werner Lanette Shaffer sold 710 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Abich Financial Wealth Management LLC purchased a new stake in General Mills in the 1st quarter worth approximately $134,000. Keynote Financial Services LLC purchased a new stake in General Mills during the first quarter worth $549,000. Railway Pension Investments Ltd grew its position in General Mills by 2.6% during the first quarter. Railway Pension Investments Ltd now owns 735,490 shares of the company’s stock valued at $51,462,000 after buying an additional 18,900 shares during the period. Aurora Investment Counsel purchased a new position in General Mills in the first quarter valued at $916,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of General Mills in the first quarter worth about $463,000. 75.71% of the stock is currently owned by hedge funds and other 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.