General Mills (NYSE:GIS) Given New $60.00 Price Target at Mizuho

General Mills (NYSE:GIS) had its target price lowered by Mizuho from $62.00 to $60.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on GIS. Piper Sandler dropped their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Stifel Nicolaus dropped their price target on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Monday, March 17th. Barclays dropped their price target on General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. dropped their price target on General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $66.53.

General Mills Price Performance

Shares of NYSE:GIS opened at $58.78 on Thursday. The business has a 50 day moving average price of $60.00 and a 200 day moving average price of $65.23. General Mills has a twelve month low of $55.15 and a twelve month high of $75.90. The company has a market cap of $32.40 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the company earned $1.17 EPS. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Research analysts predict that General Mills will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.75%.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On General Mills

Institutional investors have recently made changes to their positions in the company. Endeavor Private Wealth Inc. bought a new stake in shares of General Mills in the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Mills in the fourth quarter valued at approximately $31,000. VSM Wealth Advisory LLC bought a new stake in shares of General Mills in the fourth quarter valued at approximately $32,000. Finally, Transce3nd LLC bought a new stake in shares of General Mills in the fourth quarter valued at approximately $32,000. Institutional investors own 75.71% of the company’s stock.

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.