General Mills (NYSE:GIS) Price Target Cut to $67.00 by Analysts at Barclays

General Mills (NYSE:GIS) had its price target lowered by Barclays from $72.00 to $67.00 in a report issued on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research firms have also weighed in on GIS. Citigroup reduced their price objective on shares of General Mills from $71.00 to $68.00 and set a neutral rating for the company in a research note on Thursday, June 27th. Mizuho raised their price objective on shares of General Mills from $65.00 to $70.00 and gave the company a neutral rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on shares of General Mills from $70.00 to $63.00 and set a neutral rating for the company in a research note on Thursday, June 27th. HSBC raised their price objective on shares of General Mills from $74.00 to $76.00 and gave the company a hold rating in a research note on Thursday, March 21st. Finally, Wells Fargo & Company reduced their price objective on shares of General Mills from $70.00 to $67.00 and set an equal weight rating for the company in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $70.44.

General Mills Stock Up 0.0 %

Shares of General Mills stock opened at $63.29 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The company has a 50-day moving average of $68.51 and a 200 day moving average of $66.74. The firm has a market cap of $35.33 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 3.57 and a beta of 0.09. General Mills has a 1 year low of $60.33 and a 1 year high of $77.63.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. As a group, sell-side analysts anticipate that General Mills will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.60 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.79%. General Mills’s dividend payout ratio (DPR) is presently 54.76%.

Insider Buying and Selling at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the transaction, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On General Mills

Several large investors have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC bought a new stake in shares of General Mills during the first quarter valued at approximately $134,000. Keynote Financial Services LLC bought a new stake in shares of General Mills during the first quarter valued at approximately $549,000. Railway Pension Investments Ltd raised its position in shares of General Mills by 2.6% during the first quarter. Railway Pension Investments Ltd now owns 735,490 shares of the company’s stock valued at $51,462,000 after buying an additional 18,900 shares during the last quarter. Aurora Investment Counsel bought a new stake in shares of General Mills during the first quarter valued at approximately $916,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of General Mills during the first quarter valued at approximately $463,000. Hedge funds and other institutional investors 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.