General Mills (NYSE:GIS) PT Raised to $71.00 at Piper Sandler
General Mills (NYSE:GIS) had its target price raised by Piper Sandler from $67.00 to $71.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has an outperform rating on the stock. Piper Sandler also issued estimates for General Mills’ Q1 2021 earnings at $0.86 EPS, Q2 2021 earnings at $1.02 EPS, Q3 2021 earnings at $0.86 EPS and FY2021 earnings at $3.58 EPS.
A number of other research firms also recently commented on GIS. Credit Suisse Group increased their target price on General Mills from $55.00 to $65.00 and gave the stock a neutral rating in a report on Wednesday, March 18th. Stifel Nicolaus increased their target price on General Mills from $54.00 to $58.00 and gave the stock a hold rating in a report on Thursday, March 19th. UBS Group increased their target price on General Mills from $56.00 to $60.00 and gave the stock a neutral rating in a report on Tuesday, May 12th. Cfra raised General Mills from a hold rating to a buy rating and increased their target price for the stock from $58.00 to $60.00 in a report on Friday, March 6th. Finally, ValuEngine raised General Mills from a sell rating to a hold rating in a report on Monday, March 9th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $59.74.
Shares of GIS opened at $59.96 on Tuesday. The company has a market capitalization of $36.34 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.23 and a beta of 0.60. General Mills has a one year low of $46.59 and a one year high of $64.31. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.64. The stock has a 50-day moving average price of $59.48 and a 200 day moving average price of $54.45.
In related news, insider Jonathon Nudi sold 4,224 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $59.87, for a total value of $252,890.88. Following the sale, the insider now directly owns 58,762 shares in the company, valued at approximately $3,518,080.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bethany C. Quam sold 13,729 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 51,749 shares in the company, valued at $2,804,795.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,668 shares of company stock worth $8,078,504. 0.52% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Utah Retirement Systems increased its position in General Mills by 0.4% in the 4th quarter. Utah Retirement Systems now owns 114,267 shares of the company’s stock valued at $6,120,000 after acquiring an additional 400 shares during the period. AXA increased its position in shares of General Mills by 0.9% during the 4th quarter. AXA now owns 1,417,427 shares of the company’s stock valued at $75,917,000 after purchasing an additional 12,700 shares during the period. Swiss National Bank increased its position in shares of General Mills by 20.8% during the 1st quarter. Swiss National Bank now owns 3,101,252 shares of the company’s stock valued at $163,653,000 after purchasing an additional 533,000 shares during the period. Evermay Wealth Management LLC increased its position in shares of General Mills by 15.3% during the 4th quarter. Evermay Wealth Management LLC now owns 6,132 shares of the company’s stock valued at $328,000 after purchasing an additional 815 shares during the period. Finally, Neo Ivy Capital Management increased its position in shares of General Mills by 10.3% during the 4th quarter. Neo Ivy Capital Management now owns 13,115 shares of the company’s stock valued at $702,000 after purchasing an additional 1,226 shares during the period. Hedge funds and other institutional investors own 70.30% of the company’s stock.
About General Mills
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.
Further Reading: Recession
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