General Mills (NYSE:GIS) Price Target Raised to $74.00

General Mills (NYSE:GIS) had its target price increased by Barclays from $67.00 to $74.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages have also issued reports on GIS. Evercore ISI dropped their price target on shares of General Mills from $76.00 to $72.00 and set an in-line rating for the company in a research note on Friday, June 28th. Wells Fargo & Company boosted their price target on shares of General Mills from $67.00 to $75.00 and gave the company an equal weight rating in a report on Friday, September 13th. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $70.00 to $63.00 and set a neutral rating for the company in a report on Thursday, June 27th. Mizuho cut their price objective on shares of General Mills from $70.00 to $62.00 and set a neutral rating on the stock in a research note on Wednesday, July 3rd. Finally, Piper Sandler boosted their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an overweight rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of Hold and a consensus price target of $72.73.

General Mills Price Performance

General Mills stock opened at $74.51 on Friday. General Mills has a 12-month low of $60.33 and a 12-month high of $75.90. The stock has a market capitalization of $41.59 billion, a P/E ratio of 17.29, a P/E/G ratio of 3.86 and a beta of 0.10. The firm’s 50-day moving average is $69.92 and its two-hundred day moving average is $68.57. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. Equities analysts predict that General Mills will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is 55.68%.

Hedge Funds Weigh In On General Mills

Several institutional investors have recently modified their holdings of the business. Rise Advisors LLC lifted its stake in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after acquiring an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares during the last quarter. Fortis Group Advisors LLC increased its holdings in shares of General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after acquiring an additional 229 shares during the last quarter. RFP Financial Group LLC increased its holdings in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after acquiring an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co increased its holdings in shares of General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. 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.