General Mills (NYSE:GIS) Given New $67.00 Price Target at Citigroup

General Mills (NYSE:GIS) had its price objective lowered by Citigroup from $71.00 to $67.00 in a research report sent to investors on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday. Wells Fargo & Company dropped their target price on shares of General Mills from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday. Piper Sandler boosted their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and increased their price objective for the company from $78.00 to $80.00 in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $71.94.

General Mills Trading Up 0.2 %

NYSE GIS opened at $64.01 on Thursday. General Mills has a 12 month low of $61.47 and a 12 month high of $75.90. The company’s 50-day moving average price is $66.62 and its 200-day moving average price is $68.14. The stock has a market cap of $35.54 billion, a PE ratio of 15.24, a PEG ratio of 3.41 and a beta of 0.10. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

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, beating the consensus estimate 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 the consensus estimate of $5.14 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities research analysts forecast that General Mills will post 4.5 earnings per share for the current 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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.75%. General Mills’s payout ratio is 57.14%.

Insider Activity

In related news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This represents a 6.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated 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 $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,230 shares of company stock worth $4,547,822 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Mills

Several institutional investors and hedge funds have recently modified their holdings of the stock. Values First Advisors Inc. purchased a new stake in General Mills in the 3rd quarter worth approximately $27,000. First Foundation Advisors increased its holdings 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 purchasing an additional 400 shares in the last quarter. Planning Capital Management Corp lifted 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 purchasing an additional 193 shares during the period. Fairscale Capital LLC purchased a new stake in General Mills during the second quarter worth $42,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in General Mills during the third quarter valued at $44,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

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.