General Mills (NYSE:GIS) Given New $65.00 Price Target at Guggenheim

General Mills (NYSE:GIS) had its price target lifted by Guggenheim from $58.00 to $65.00 in a report published on Wednesday morning, The Fly reports. Guggenheim currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. Credit Suisse Group set a $15.00 price objective on shares of C&J Energy Services and gave the company a hold rating in a research report on Thursday, March 21st. Deutsche Bank cut shares of State Street from a buy rating to a hold rating and set a $69.95 price objective on the stock. in a research report on Thursday, March 14th. TheStreet raised shares of Tupperware Brands from a d+ rating to a c rating in a research report on Friday, March 15th. Citigroup cut shares of Biogen from a buy rating to a neutral rating and cut their price objective for the company from $470.00 to $230.00 in a research report on Thursday, March 21st. Finally, BMO Capital Markets reaffirmed a sell rating on shares of Bonterra Energy in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $52.66.

Shares of NYSE GIS traded down $0.94 during midday trading on Wednesday, reaching $53.56. 5,356,440 shares of the stock were exchanged, compared to its average volume of 4,537,271. The business’s 50-day moving average is $52.53. The stock has a market capitalization of $32.77 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77. General Mills has a 12 month low of $36.42 and a 12 month high of $54.74. The company has a quick ratio of 0.37, a current ratio of 0.59 and a debt-to-equity ratio of 1.58.



General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Equities research analysts anticipate that General Mills will post 3.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.96 annualized dividend and a yield of 3.66%. General Mills’s dividend payout ratio (DPR) is presently 60.87%.

A number of large investors have recently modified their holdings of GIS. Norges Bank bought a new stake in General Mills during the 4th quarter worth about $208,406,000. FMR LLC lifted its position in General Mills by 92.9% during the 1st quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after buying an additional 1,652,275 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in General Mills by 469.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 953,445 shares of the company’s stock worth $43,653,000 after buying an additional 785,927 shares in the last quarter. JPMorgan Chase & Co. lifted its position in General Mills by 42.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,965,879 shares of the company’s stock worth $101,734,000 after buying an additional 584,631 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in General Mills by 476.8% during the 4th quarter. Gotham Asset Management LLC now owns 632,908 shares of the company’s stock worth $24,645,000 after buying an additional 523,175 shares in the last quarter. 69.77% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Company Profile

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, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Analyst Recommendations for General Mills (NYSE:GIS)

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