Brokerages Set General Mills, Inc. (NYSE:GIS) Price Target at $65.69

Shares of General Mills, Inc. (NYSE:GIS) have been assigned a consensus recommendation of “Hold” from the seventeen analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $65.69.

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Monday, March 17th. Jefferies Financial Group boosted their price objective on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Piper Sandler dropped their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On General Mills

A number of hedge funds have recently modified their holdings of GIS. Vanguard Group Inc. grew its holdings in General Mills by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after buying an additional 1,868,508 shares in the last quarter. State Street Corp increased its stake in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares during the period. Geode Capital Management LLC boosted its position in General Mills by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock valued at $923,907,000 after buying an additional 136,895 shares during the period. Ameriprise Financial Inc. grew its stake in General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after purchasing an additional 2,341,137 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of General Mills by 18.4% during the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock valued at $514,101,000 after buying an additional 1,253,483 shares during the period. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Up 1.2 %

Shares of GIS opened at $59.83 on Friday. The business has a 50-day moving average of $59.97 and a 200 day moving average of $64.52. General Mills has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a market cap of $32.98 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. As a group, research analysts forecast that General Mills will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.01%. General Mills’s dividend payout ratio (DPR) is 52.75%.

About General Mills

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.