General Mills’ (GIS) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of General Mills (NYSE:GIS) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $70.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. Barclays lifted their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. lifted their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Stifel Nicolaus lifted their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.56.

General Mills Stock Down 0.6 %

Shares of NYSE:GIS opened at $63.61 on Thursday. The firm has a market cap of $35.31 billion, a P/E ratio of 15.15, a PEG ratio of 3.41 and a beta of 0.10. General Mills has a 52-week low of $61.47 and a 52-week high of $75.90. The business’s 50 day simple moving average is $66.47 and its two-hundred day simple moving average is $68.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the business posted $1.25 EPS. General Mills’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that General Mills will post 4.5 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Insider Activity at General Mills

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,230 shares of company stock worth $4,547,822. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Mills

A number of institutional investors have recently added to or reduced their stakes in GIS. Values First Advisors Inc. bought a new position in shares of General Mills in the third quarter worth approximately $27,000. First Foundation Advisors raised its position in shares of General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. Planning Capital Management Corp lifted its holdings in shares of General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the last quarter. Fairscale Capital LLC purchased a new position in General Mills in the second quarter worth $42,000. Finally, Catalyst Capital Advisors LLC bought a new position in General Mills in the third quarter valued at $44,000. 75.71% of the stock is currently owned by institutional investors.

General Mills Company Profile

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.