General Mills, Inc. (NYSE:GIS) Receives Average Recommendation of “Hold” from Analysts

General Mills, Inc. (NYSE:GIS) has received an average recommendation of “Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $65.80.

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their price target on shares of General Mills from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, December 2nd. Jefferies Financial Group assumed coverage on shares of General Mills in a report on Wednesday, December 22nd. They set a “hold” rating and a $65.00 price target on the stock. Morgan Stanley increased their price target on shares of General Mills from $51.00 to $56.00 in a report on Tuesday. Zacks Investment Research cut shares of General Mills from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a report on Friday, November 26th. Finally, Citigroup raised their target price on shares of General Mills from $70.00 to $73.00 and gave the stock an “action list buy” rating in a report on Wednesday, December 22nd.

GIS traded up $1.00 during midday trading on Friday, reaching $69.90. The company’s stock had a trading volume of 3,466,559 shares, compared to its average volume of 3,996,242. The firm has a market capitalization of $42.16 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.41 and a beta of 0.54. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 1.12. General Mills has a 1 year low of $54.31 and a 1 year high of $69.95. The stock’s 50-day moving average is $65.22 and its 200-day moving average is $61.75.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Tuesday, December 21st. The company reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.06). General Mills had a return on equity of 23.58% and a net margin of 12.02%. The business had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company posted $1.06 EPS. General Mills’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills will post 3.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, December 10th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 7th. This represents a $2.04 annualized dividend and a yield of 2.92%. General Mills’s payout ratio is presently 56.20%.

In other General Mills news, insider Bethany C. Quam sold 14,455 shares of the stock in a transaction that occurred on Monday, January 10th. The shares were sold at an average price of $69.02, for a total value of $997,684.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark A. Pallot sold 1,410 shares of the firm’s stock in a transaction on Monday, January 10th. The shares were sold at an average price of $69.31, for a total transaction of $97,727.10. The disclosure for this sale can be found here. Insiders sold 82,192 shares of company stock worth $5,437,448 over the last quarter. Insiders own 0.53% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of General Mills by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 51,266,074 shares of the company’s stock valued at $3,123,641,000 after purchasing an additional 151,280 shares during the period. State Street Corp increased its holdings in General Mills by 1.7% in the 2nd quarter. State Street Corp now owns 32,924,148 shares of the company’s stock valued at $2,006,068,000 after acquiring an additional 553,497 shares during the last quarter. Capital International Investors increased its holdings in General Mills by 8.3% in the 2nd quarter. Capital International Investors now owns 27,462,315 shares of the company’s stock valued at $1,673,177,000 after acquiring an additional 2,114,798 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in General Mills by 0.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 10,716,252 shares of the company’s stock valued at $652,942,000 after acquiring an additional 42,120 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in General Mills by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,625,709 shares of the company’s stock valued at $574,090,000 after acquiring an additional 473,686 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

General Mills Company Profile

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

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Analyst Recommendations for General Mills (NYSE:GIS)

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