General Mills (NYSE:GIS) Given New $62.00 Price Target at Jefferies Financial Group

General Mills (NYSE:GIS) had its price objective increased by Jefferies Financial Group from $58.00 to $62.00 in a research report report published on Monday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the stock.

Several other analysts also recently issued reports on the stock. Mizuho reduced their price target on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Piper Sandler decreased their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. TD Cowen decreased their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, Barclays dropped their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, General Mills has an average rating of “Hold” and an average target price of $68.65.

General Mills Trading Up 1.0 %

GIS opened at $65.15 on Monday. The company has a market cap of $35.91 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a fifty day moving average price of $60.37 and a two-hundred day moving average price of $65.93. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills has a 1-year low of $55.15 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts predict that General Mills will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is 52.17%.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of General Mills

A number of institutional investors have recently modified their holdings of the business. Aegis Wealth Management LLC bought a new position in shares of General Mills in the fourth quarter worth $271,000. Probity Advisors Inc. boosted its stake in General Mills by 8.9% in the 4th quarter. Probity Advisors Inc. now owns 14,004 shares of the company’s stock worth $893,000 after purchasing an additional 1,144 shares during the period. Siemens Fonds Invest GmbH grew its holdings in General Mills by 8.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 27,756 shares of the company’s stock valued at $1,759,000 after buying an additional 2,123 shares in the last quarter. BridgePort Financial Solutions LLC purchased a new position in General Mills during the 4th quarter valued at about $386,000. Finally, Park Square Financial Group LLC bought a new stake in shares of General Mills during the fourth quarter valued at about $44,000. 75.71% of the stock is currently owned by hedge funds and other 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.