General Mills (NYSE:GIS) Price Target Increased to $75.00 by Analysts at Bank of America

General Mills (NYSE:GIS) had its price target lifted by Bank of America from $68.00 to $75.00 in a report published on Thursday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on the company. Mizuho dropped their target price on General Mills from $70.00 to $62.00 and set a neutral rating on the stock in a research report on Wednesday, July 3rd. Sanford C. Bernstein raised General Mills from an underperform rating to a market perform rating and raised their price objective for the company from $62.00 to $70.00 in a report on Wednesday, May 15th. Evercore ISI reduced their target price on 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. Royal Bank of Canada reiterated a sector perform rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, June 27th. Finally, Stifel Nicolaus cut their price target on shares of General Mills from $77.00 to $70.00 and set a buy rating for the company in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, General Mills has a consensus rating of Hold and an average price target of $69.53.

General Mills Stock Down 0.1 %

Shares of GIS opened at $73.02 on Thursday. The company has a market capitalization of $40.76 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 4.25 and a beta of 0.10. General Mills has a 52 week low of $60.33 and a 52 week high of $75.90. The stock’s 50-day moving average price is $68.51 and its 200-day moving average price is $68.09. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. On average, sell-side analysts predict that General Mills will post 4.49 EPS for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.60 dividend. The ex-dividend date was Wednesday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.29%. General Mills’s dividend payout ratio is 55.68%.

Hedge Funds Weigh In On General Mills

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in General Mills by 7.4% during the fourth quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock worth $512,000 after purchasing an additional 539 shares during the last quarter. Aveo Capital Partners LLC acquired a new stake in shares of General Mills during the 4th quarter worth approximately $213,000. Envestnet Portfolio Solutions Inc. raised its position in shares of General Mills by 14.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,890 shares of the company’s stock valued at $775,000 after buying an additional 1,459 shares during the period. Foundations Investment Advisors LLC lifted its holdings in General Mills by 23.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 11,044 shares of the company’s stock valued at $716,000 after acquiring an additional 2,071 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new position in General Mills in the fourth quarter worth approximately $548,000. Institutional investors and hedge funds 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.