General Mills (NYSE:GIS) Price Target Raised to $56.00

General Mills (NYSE:GIS) had its price objective raised by Morgan Stanley from $51.00 to $56.00 in a research note released on Tuesday, The Fly reports.

A number of other analysts also recently issued reports on GIS. Zacks Investment Research downgraded General Mills from a buy rating to a hold rating and set a $67.00 target price for the company. in a research report on Friday, November 26th. Citigroup lifted their price target on General Mills from $70.00 to $73.00 and gave the company an action list buy rating in a research report on Wednesday, December 22nd. Jefferies Financial Group assumed coverage on General Mills in a research report on Wednesday, December 22nd. They issued a hold rating and a $65.00 price target for the company. Piper Sandler lifted their price objective on General Mills from $70.00 to $74.00 and gave the company an overweight rating in a research note on Thursday, December 2nd. Finally, Royal Bank of Canada lifted their price objective on General Mills from $65.00 to $66.00 and gave the company a sector perform rating in a research note on Thursday, September 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $65.80.

NYSE:GIS opened at $69.90 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.62. The business has a fifty day simple moving average of $65.36 and a two-hundred day simple moving average of $61.81. General Mills has a 1 year low of $54.31 and a 1 year high of $69.95. The company has a market capitalization of $42.16 billion, a P/E ratio of 19.26, a P/E/G ratio of 2.43 and a beta of 0.54.

General Mills (NYSE:GIS) last released its earnings results on Tuesday, December 21st. The company reported $0.99 earnings per share (EPS) 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 firm had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the business earned $1.06 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that General Mills will post 3.78 earnings per share for the current year.

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

In other news, insider Bethany C. Quam sold 14,455 shares of the business’s stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $69.02, for a total value of $997,684.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean N. Walker sold 4,894 shares of the business’s stock in a transaction dated Wednesday, October 20th. The shares were sold at an average price of $62.76, for a total value of $307,147.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,192 shares of company stock valued at $5,437,448. Corporate insiders own 0.53% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. purchased a new position in General Mills during the 3rd quarter valued at about $27,000. Herold Advisors Inc. purchased a new position in General Mills during the 3rd quarter valued at about $29,000. Tompkins Financial Corp purchased a new position in General Mills during the 3rd quarter valued at about $33,000. Ancora Advisors LLC increased its holdings in General Mills by 43.8% during the 2nd quarter. Ancora Advisors LLC now owns 611 shares of the company’s stock valued at $37,000 after purchasing an additional 186 shares during the period. Finally, Guidance Point Advisors LLC purchased a new position in General Mills during the 3rd quarter valued at about $37,000. 73.80% of the stock is owned by institutional investors.

About General Mills

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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