General Mills (NYSE:GIS) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of General Mills (NYSE:GIS) in a research note published on Thursday, Benzinga reports. Royal Bank of Canada currently has a $70.00 price objective on the stock.

Several other equities analysts also recently commented on the stock. Argus reissued a hold rating on shares of General Mills in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lowered their price objective on General Mills from $70.00 to $63.00 and set a neutral rating on the stock in a report on Thursday, June 27th. Mizuho decreased their target price on General Mills from $70.00 to $62.00 and set a neutral rating for the company in a research report on Wednesday, July 3rd. Wells Fargo & Company increased their price target on General Mills from $67.00 to $75.00 and gave the company an equal weight rating in a report on Friday, September 13th. Finally, Piper Sandler boosted their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an overweight rating in a research note on Thursday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills has an average rating of Hold and an average price target of $72.73.

General Mills Stock Down 0.5 %

GIS opened at $74.51 on Thursday. The company has a market capitalization of $41.59 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. 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 has a fifty-two week low of $60.33 and a fifty-two week high of $75.90. The business has a 50-day moving average of $69.92 and a 200-day moving average of $68.57.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share 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%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. Equities research analysts forecast that General Mills will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.60 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.22%. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Institutional Investors Weigh In On General Mills

Hedge funds have recently bought and sold shares of the company. Arkadios Wealth Advisors raised its stake in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after buying an additional 10,765 shares during the period. Optimist Retirement Group LLC acquired a new stake in shares of General Mills during the fourth quarter worth about $1,171,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after purchasing an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of General Mills by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares during the period. Finally, Mitchell Sinkler & Starr PA increased its stake in General Mills by 164.1% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock worth $1,307,000 after purchasing an additional 11,298 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

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.