General Mills (NYSE:GIS) Price Target Lowered to $71.00 at Piper Sandler

General Mills (NYSE:GIS) had its price target reduced by Piper Sandler from $84.00 to $71.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also issued reports on the company. Bank of America lowered their price target on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus lowered their target price on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Barclays cut their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Mizuho decreased their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, Citigroup dropped their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, December 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’s stock. According to MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus target price of $69.06.

General Mills Stock Up 0.4 %

Shares of NYSE GIS opened at $61.61 on Tuesday. General Mills has a 1 year low of $55.15 and a 1 year high of $75.90. The firm has a 50-day simple moving average of $60.72 and a two-hundred day simple moving average of $66.43. The company has a market cap of $33.96 billion, a P/E ratio of 13.39, a PEG ratio of 1.94 and a beta of 0.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. Research analysts anticipate that General Mills will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.17%.

Insider Transactions at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On General Mills

Several hedge funds have recently made changes to their positions in GIS. Endeavor Private Wealth Inc. purchased a new stake in General Mills during the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC purchased a new stake in General Mills in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Mills in the fourth quarter valued at approximately $31,000. VSM Wealth Advisory LLC acquired a new position in General Mills in the 4th quarter worth approximately $32,000. Finally, Transce3nd LLC purchased a new position in General Mills during the 4th quarter worth approximately $32,000. 75.71% of the stock is 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.