General Mills (NYSE:GIS) Given Sector Perform Rating at Royal Bank of Canada

General Mills (NYSE:GIS)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $70.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential upside of 8.39% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $80.00 in a research report on Friday, December 13th. Wells Fargo & Company lowered their price target on shares of General Mills from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus lifted their target price on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $72.75.

General Mills Trading Up 1.0 %

Shares of General Mills stock traded up $0.67 during trading on Thursday, reaching $64.58. The company’s stock had a trading volume of 1,198,812 shares, compared to its average volume of 3,935,719. The company has a market cap of $35.85 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 3.41 and a beta of 0.10. The firm’s 50-day moving average is $66.76 and its two-hundred day moving average is $68.17. General Mills has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that General Mills will post 4.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,555 shares of company stock valued at $4,721,336. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On General Mills

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIS. 1620 Investment Advisors Inc. acquired a new position in shares of General Mills in the 2nd quarter valued at $47,000. &PARTNERS grew its stake in shares of General Mills by 39.0% during the 2nd quarter. &PARTNERS now owns 23,070 shares of the company’s stock worth $1,459,000 after purchasing an additional 6,475 shares during the period. Secure Asset Management LLC increased its stake in shares of General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after purchasing an additional 157 shares in the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of General Mills by 10.7% during the second quarter. Premier Path Wealth Partners LLC now owns 3,168 shares of the company’s stock valued at $200,000 after buying an additional 307 shares during the period. Finally, Tower Bridge Advisors grew its position in shares of General Mills by 9.2% in the second quarter. Tower Bridge Advisors now owns 4,730 shares of the company’s stock valued at $299,000 after purchasing an additional 400 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

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.