TD Cowen Cuts General Mills (NYSE:GIS) Price Target to $64.00

General Mills (NYSE:GIS) had its target price reduced by TD Cowen from $75.00 to $64.00 in a report published on Thursday, Marketbeat reports. TD Cowen currently has a hold rating on the stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company decreased their price objective on General Mills from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday. Stifel Nicolaus boosted their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. Citigroup lifted their target price on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Barclays upped their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $71.56.

General Mills Stock Performance

Shares of GIS opened at $63.61 on Thursday. The company has a 50-day moving average of $66.47 and a two-hundred day moving average of $68.11. The stock has a market cap of $35.31 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 3.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills has a one year low of $61.47 and a one year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping 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 firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts expect that General Mills will post 4.5 earnings per share for the current year.

General Mills Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The trade was a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Maria Sastre sold 1,000 shares of the stock in a transaction on Friday, November 15th. The shares were 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 directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,230 shares of company stock valued at $4,547,822 in the last quarter. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On General Mills

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

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 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.