General Mills (NYSE:GIS) Price Target Cut to $67.00 by Analysts at Barclays

General Mills (NYSE:GIS) had its target price trimmed by Barclays from $72.00 to $67.00 in a report released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts also recently weighed in on GIS. Evercore ISI cut their price target on shares of General Mills from $76.00 to $72.00 and set an in-line rating on the stock in a report on Friday. Royal Bank of Canada reiterated a sector perform rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, June 27th. Wells Fargo & Company cut their price target on shares of General Mills from $70.00 to $67.00 and set an equal weight rating on the stock in a report on Thursday, June 27th. Sanford C. Bernstein upgraded shares of General Mills from an underperform rating to a market perform rating and increased their price target for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. Finally, Bank of America cut their price target on shares of General Mills from $70.00 to $68.00 and set a neutral rating on the stock in a report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a 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 $70.44.

General Mills Stock Performance

GIS opened at $63.29 on Friday. General Mills has a 52-week low of $60.33 and a 52-week high of $77.63. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company has a market cap of $35.33 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 3.57 and a beta of 0.09. The firm’s 50-day moving average price is $68.51 and its 200-day moving average price is $66.74.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that General Mills will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.60 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.79%. General Mills’s dividend payout ratio (DPR) is 54.76%.

Insider Activity

In other news, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the transaction, the insider now owns 17,397 shares in the company, valued at approximately $1,227,706.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC acquired a new stake in shares of General Mills in the 4th quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of General Mills in the 4th quarter worth $28,000. Rise Advisors LLC increased its stake in shares of General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after acquiring an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares during the last quarter. Finally, Fortis Group Advisors LLC increased its stake in shares of General Mills by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after acquiring an additional 229 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.