General Mills (NYSE:GIS) Price Target Raised to $76.00 at Citigroup

General Mills (NYSE:GIS) had its price target increased by Citigroup from $68.00 to $76.00 in a report published on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on the company. Barclays cut their price objective on General Mills from $72.00 to $67.00 and set an equal weight rating for the company in a report on Friday, June 28th. Argus reissued a hold rating on shares of General Mills in a report on Tuesday, July 16th. Mizuho cut their price objective on General Mills from $70.00 to $62.00 and set a neutral rating for the company in a report on Wednesday, July 3rd. Royal Bank of Canada reissued a sector perform rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. cut their price target on General Mills from $70.00 to $63.00 and set a neutral rating for the company in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, General Mills has a consensus rating of Hold and an average target price of $70.60.

General Mills Price Performance

Shares of GIS opened at $74.63 on Monday. The stock has a market capitalization of $41.65 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.86 and a beta of 0.10. General Mills has a twelve month low of $60.33 and a twelve month high of $75.90. The company has a 50 day moving average of $68.97 and a 200-day moving average of $68.28. 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, beating the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm’s revenue for the quarter 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. As a group, equities research analysts forecast that General Mills will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

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

Institutional Trading of General Mills

A number of institutional investors have recently bought and sold shares of the business. Private Trust Co. NA boosted its holdings in General Mills by 1.4% in the 1st quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock valued at $719,000 after purchasing an additional 140 shares during the period. North Star Investment Management Corp. boosted its holdings in General Mills by 0.8% in the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after purchasing an additional 145 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares during the period. Park Place Capital Corp boosted its holdings in General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after purchasing an additional 156 shares during the period. Finally, Secure Asset Management LLC raised its position in shares of General Mills by 5.0% in the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after buying an additional 157 shares in the last quarter. 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 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.