General Mills (NYSE:GIS) Price Target Raised to $77.00

General Mills (NYSE:GIS – Get Rating) had its price target raised by JPMorgan Chase & Co. from $76.00 to $77.00 in a research note published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities analysts have also issued reports on GIS. StockNews.com initiated coverage on shares of General Mills in a report on Thursday. They issued a hold rating on the stock. Wells Fargo & Company assumed coverage on shares of General Mills in a report on Tuesday, January 3rd. They set an equal weight rating and a $88.00 price objective on the stock. UBS Group raised shares of General Mills from a neutral rating to a buy rating and boosted their price objective for the company from $85.00 to $88.00 in a report on Thursday, January 26th. Piper Sandler boosted their price objective on shares of General Mills from $88.00 to $95.00 and gave the company an overweight rating in a report on Thursday, December 15th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of General Mills from a buy rating to a hold rating and set a $88.00 price objective on the stock. in a report on Tuesday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has an average rating of Hold and a consensus price target of $82.94.

General Mills Stock Performance

Shares of GIS stock opened at $79.79 on Thursday. The firm has a market cap of $47.04 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.56 and a beta of 0.28. The company’s 50 day moving average is $78.79 and its 200 day moving average is $79.91. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 0.83. General Mills has a 52-week low of $61.67 and a 52-week high of $88.34.

General Mills (NYSE:GIS – Get Rating) last released its quarterly earnings results on Tuesday, December 20th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.04. General Mills had a net margin of 15.02% and a return on equity of 24.09%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. On average, sell-side analysts anticipate that General Mills will post 4.18 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, April 6th. This represents a $2.16 dividend on an annualized basis and a yield of 2.71%. General Mills’s dividend payout ratio is presently 45.09%.

Insider Activity at General Mills

In other General Mills news, CAO Mark A. Pallot sold 1,955 shares of the company’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $85.99, for a total value of $168,110.45. Following the completion of the transaction, the chief accounting officer now owns 17,146 shares in the company, valued at $1,474,384.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other General Mills news, insider Jonathon Nudi sold 10,894 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $84.49, for a total value of $920,434.06. Following the completion of the transaction, the insider now owns 82,784 shares in the company, valued at $6,994,420.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark A. Pallot sold 1,955 shares of the company’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $85.99, for a total transaction of $168,110.45. Following the completion of the transaction, the chief accounting officer now owns 17,146 shares of the company’s stock, valued at approximately $1,474,384.54. The disclosure for this sale can be found here. Insiders sold 40,006 shares of company stock worth $3,393,359 over the last three months. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FWL Investment Management LLC acquired a new position in shares of General Mills during the 4th quarter worth about $25,000. James Investment Research Inc. acquired a new position in shares of General Mills during the 4th quarter worth about $26,000. Almanack Investment Partners LLC. acquired a new position in shares of General Mills during the 3rd quarter worth about $28,000. Capital Analysts LLC raised its position in shares of General Mills by 95.0% during the 2nd quarter. Capital Analysts LLC now owns 390 shares of the company’s stock worth $29,000 after purchasing an additional 190 shares during the last quarter. Finally, AXS Investments LLC acquired a new position in shares of General Mills during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 74.48% of the company’s stock.

General Mills Company Profile

(Get Rating)

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm 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.