General Mills (GIS) – Research Analysts’ Recent Ratings Changes

General Mills (NYSE: GIS) has recently received a number of price target changes and ratings updates:

• 3/22/2024 – General Mills had its price target raised by analysts at Barclays PLC from $70.00 to $72.00. They now have an “equal weight” rating on the stock.
• 3/21/2024 – General Mills had its price target raised by analysts at Morgan Stanley from $58.00 to $61.00. They now have an “underweight” rating on the stock.
• 3/21/2024 – General Mills had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $72.00 price target on the stock.
• 3/21/2024 – General Mills had its price target raised by analysts at Bank of America Co. from $68.00 to $72.00. They now have a “neutral” rating on the stock.
• 3/21/2024 – General Mills had its price target raised by analysts at JPMorgan Chase & Co. from $68.00 to $72.00. They now have a “neutral” rating on the stock.
• 3/21/2024 – General Mills had its price target raised by analysts at Mizuho from $65.00 to $70.00. They now have a “neutral” rating on the stock.
• 3/21/2024 – General Mills had its price target raised by analysts at TD Cowen from $68.00 to $70.00. They now have a “market perform” rating on the stock.
• 3/21/2024 – General Mills had its price target raised by analysts at HSBC Holdings plc from $74.00 to $76.00. They now have a “hold” rating on the stock.
• 3/21/2024 – General Mills had its price target raised by analysts at Wells Fargo & Company from $65.00 to $70.00. They now have an “equal weight” rating on the stock.
• 3/21/2024 – General Mills had its price target raised by analysts at Stifel Nicolaus from $68.00 to $77.00. They now have a “buy” rating on the stock.

General Mills Price Performance

Shares of NYSE GIS opened at $70.57 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a fifty day moving average price of $65.55 and a 200 day moving average price of $64.91. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The company has a market cap of $40.08 billion, a PE ratio of 16.19, a P/E/G ratio of 2.42 and a beta of 0.15.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period last year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s payout ratio is 54.13%.

Insiders Place Their Bets

In other General Mills news, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the transaction, the insider now owns 102,924 shares in the company, valued at $6,602,574.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jonathon Nudi sold 7,671 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the transaction, the insider now owns 102,924 shares in the company, valued at $6,602,574.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,782 shares of company stock worth $5,057,820. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its position in General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock worth $928,723,000 after purchasing an additional 11,067,051 shares in the last quarter. Norges Bank purchased a new stake in General Mills during the 4th quarter worth about $377,205,000. Price T Rowe Associates Inc. MD increased its position in General Mills by 101.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,935,085 shares of the company’s stock worth $592,673,000 after purchasing an additional 3,496,741 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in General Mills by 47.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,432,459 shares of the company’s stock worth $484,150,000 after buying an additional 2,394,604 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in General Mills by 106.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after buying an additional 1,778,345 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

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.