General Mills (NYSE:GIS) Given New $80.00 Price Target at Evercore ISI

Posted by Defense World Staff on Jun 30th, 2023

General Mills (NYSE:GIS – Free Report) had its price objective reduced by Evercore ISI from $85.00 to $80.00 in a research report released on Thursday, The Fly reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price target on General Mills from $76.00 to $77.00 and gave the company a neutral rating in a research note on Thursday, March 16th. Wells Fargo & Company decreased their price objective on General Mills from $89.00 to $80.00 in a report on Thursday. Stifel Nicolaus decreased their price objective on General Mills from $95.00 to $86.00 in a report on Thursday. Royal Bank of Canada reaffirmed a sector perform rating and set a $76.00 price objective on shares of General Mills in a report on Friday, March 24th. Finally, UBS Group lifted their price objective on General Mills from $88.00 to $96.00 in a report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $82.56.

General Mills Trading Down 0.5 %

General Mills stock opened at $76.30 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.32 and a current ratio of 0.54. The business’s 50-day simple moving average is $85.16 and its 200-day simple moving average is $83.01. The firm has a market capitalization of $44.81 billion, a PE ratio of 16.48, a PEG ratio of 2.44 and a beta of 0.27. General Mills has a 52 week low of $72.16 and a 52 week high of $90.89.

General Mills (NYSE:GIS – Free Report) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. General Mills had a return on equity of 24.51% and a net margin of 14.04%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts forecast that General Mills will post 4.24 earnings per share for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, July 7th. This is a boost from General Mills’s previous quarterly dividend of $0.54. General Mills’s payout ratio is 46.65%.

Insider Buying and Selling

In related news, insider Jacqueline Williams-Roll sold 18,517 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $89.47, for a total value of $1,656,715.99. Following the completion of the transaction, the insider now owns 47,163 shares in the company, valued at approximately $4,219,673.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Mark A. Pallot sold 4,081 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $90.32, for a total value of $368,595.92. Following the completion of the transaction, the chief accounting officer now owns 13,121 shares in the company, valued at approximately $1,185,088.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline Williams-Roll sold 18,517 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $89.47, for a total transaction of $1,656,715.99. Following the sale, the insider now owns 47,163 shares of the company’s stock, valued at approximately $4,219,673.61. The disclosure for this sale can be found here. Insiders sold 47,341 shares of company stock worth $4,163,978 in the last quarter. Insiders own 0.67% of the company’s stock.

Institutional Trading of General Mills

Institutional investors and hedge funds have recently made changes to their positions in the business. Disciplined Investments LLC raised its position in shares of General Mills by 245.9% during the 1st quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock valued at $25,000 after acquiring an additional 209 shares during the last quarter. FWL Investment Management LLC bought a new stake in shares of General Mills during the 4th quarter valued at $25,000. James Investment Research Inc. bought a new stake in shares of General Mills during the 4th quarter valued at $26,000. Almanack Investment Partners LLC. bought a new stake in shares of General Mills during the 3rd quarter valued at $28,000. Finally, AXS Investments LLC bought a new stake in shares of General Mills during the 4th quarter valued at $30,000. Institutional investors own 76.73% of the company’s stock.

About General Mills

(Free Report)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.