General Mills (NYSE:GIS) Price Target Raised to $67.00 at JPMorgan Chase & Co.

General Mills (NYSE:GIS) had its price target lifted by JPMorgan Chase & Co. from $63.00 to $67.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on GIS. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Citigroup increased their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Evercore ISI cut their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Finally, Barclays increased their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average target price of $73.00.

General Mills Trading Down 0.5 %

Shares of NYSE:GIS opened at $70.67 on Monday. The business’s 50-day moving average is $72.34 and its 200 day moving average is $69.22. General Mills has a 1 year low of $61.47 and a 1 year high of $75.90. The firm has a market capitalization of $39.44 billion, a P/E ratio of 16.40, a P/E/G ratio of 3.71 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 (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts predict that General Mills will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.40%. General Mills’s dividend payout ratio is currently 55.68%.

Insiders Place Their Bets

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,055 shares of company stock worth $1,467,311. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Mills

Several hedge funds and other institutional investors have recently made changes to their positions in the company. North Star Investment Management Corp. lifted its position in shares of General Mills by 0.8% in the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after acquiring an additional 145 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares during the last quarter. Park Place Capital Corp increased its holdings in shares of General Mills by 40.6% in the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after purchasing an additional 156 shares during the last quarter. Secure Asset Management LLC increased its holdings in shares of General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after purchasing an additional 157 shares during the last quarter. Finally, LCM Capital Management Inc increased its holdings in shares of General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other 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.