Piper Sandler reissued their buy rating on shares of General Mills (NYSE:GIS) in a research report report published on Tuesday morning, TipRanks reports. They currently have a $71.00 price target on the stock.
Several other equities analysts have also recently weighed in on the company. BMO Capital Markets lifted their target price on General Mills from $57.00 to $63.00 in a research note on Thursday, March 19th. Jefferies Financial Group boosted their price target on General Mills from $56.00 to $61.00 and gave the company a positive rating in a research note on Thursday, May 21st. Royal Bank of Canada boosted their price target on General Mills from $57.00 to $61.00 in a research note on Thursday, March 19th. JPMorgan Chase & Co. boosted their price target on General Mills from $56.00 to $59.00 and gave the company a neutral rating in a research note on Friday, April 17th. Finally, Wells Fargo & Co boosted their target price on General Mills from $65.00 to $69.00 and gave the stock an overweight rating in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. General Mills currently has a consensus rating of Hold and a consensus target price of $60.39.
NYSE:GIS opened at $61.65 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.64 and a quick ratio of 0.41. General Mills has a fifty-two week low of $46.59 and a fifty-two week high of $64.31. The stock’s 50-day moving average is $61.31 and its two-hundred day moving average is $56.09. The stock has a market cap of $36.82 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.26 and a beta of 0.61.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.18%. General Mills’s payout ratio is presently 60.87%.
In other General Mills news, insider Jodi J. Benson sold 3,744 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $57.25, for a total value of $214,344.00. Following the transaction, the insider now owns 43,189 shares of the company’s stock, valued at $2,472,570.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bethany C. Quam sold 13,729 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $54.20, for a total value of $744,111.80. Following the completion of the transaction, the insider now directly owns 51,749 shares in the company, valued at approximately $2,804,795.80. The disclosure for this sale can be found here. Insiders have sold 131,481 shares of company stock worth $7,707,593 in the last ninety days. 0.52% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Utah Retirement Systems lifted its stake in General Mills by 0.4% in the fourth quarter. Utah Retirement Systems now owns 114,267 shares of the company’s stock valued at $6,120,000 after buying an additional 400 shares during the period. AXA raised its position in shares of General Mills by 0.9% during the fourth quarter. AXA now owns 1,417,427 shares of the company’s stock worth $75,917,000 after purchasing an additional 12,700 shares during the period. Swiss National Bank raised its position in shares of General Mills by 20.8% during the first quarter. Swiss National Bank now owns 3,101,252 shares of the company’s stock worth $163,653,000 after purchasing an additional 533,000 shares during the period. Philadelphia Trust Co. raised its position in shares of General Mills by 98.1% during the first quarter. Philadelphia Trust Co. now owns 388,783 shares of the company’s stock worth $20,516,000 after purchasing an additional 192,527 shares during the period. Finally, Neo Ivy Capital Management raised its position in shares of General Mills by 10.3% during the fourth quarter. Neo Ivy Capital Management now owns 13,115 shares of the company’s stock worth $702,000 after purchasing an additional 1,226 shares during the period. 70.64% 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 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, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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