Research Analysts’ Recent Ratings Updates for General Mills (GIS)

General Mills (NYSE: GIS) recently received a number of ratings updates from brokerages and research firms:

• 6/28/2024 – General Mills had its price target lowered by analysts at Evercore ISI from $76.00 to $72.00. They now have an “in-line” rating on the stock.
• 6/28/2024 – General Mills had its price target lowered by analysts at Barclays PLC from $72.00 to $67.00. They now have an “equal weight” rating on the stock.
• 6/27/2024 – General Mills had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $70.00 price target on the stock.
• 6/27/2024 – General Mills had its price target lowered by analysts at Bank of America Co. from $70.00 to $68.00. They now have a “neutral” rating on the stock.
• 6/27/2024 – General Mills had its price target lowered by analysts at Citigroup Inc. from $71.00 to $68.00. They now have a “neutral” rating on the stock.
• 6/27/2024 – General Mills had its price target lowered by analysts at JPMorgan Chase & Co. from $70.00 to $63.00. They now have a “neutral” rating on the stock.
• 6/27/2024 – General Mills had its price target lowered by analysts at Wells Fargo & Company from $70.00 to $67.00. They now have an “equal weight” rating on the stock.
• 6/27/2024 – General Mills had its price target lowered by analysts at Stifel Nicolaus from $77.00 to $70.00. They now have a “buy” rating on the stock.
• 5/28/2024 – General Mills had its price target lowered by analysts at JPMorgan Chase & Co. from $72.00 to $70.00. They now have a “neutral” rating on the stock.
• 5/15/2024 – General Mills was upgraded by analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating. They now have a $70.00 price target on the stock, up previously from $62.00.

General Mills Price Performance

Shares of NYSE GIS traded down $0.45 during trading on Friday, reaching $63.26. The company had a trading volume of 13,246,678 shares, compared to its average volume of 4,226,373. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.40 and a current ratio of 0.65. The stock has a market cap of $35.93 billion, a PE ratio of 14.68, a PEG ratio of 3.05 and a beta of 0.12. The business’s 50 day moving average price is $68.76 and its 200-day moving average price is $66.79. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $77.63.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share. Analysts expect that General Mills, Inc. will post 4.54 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.79%. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s payout ratio is 54.76%.

Insider Buying and Selling

In related news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the sale, the insider now directly owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Private Trust Co. NA grew its holdings in General Mills by 1.4% during the first 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. grew its holdings in General Mills by 0.8% during the first 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. Traverso Chambers Private Wealth Management LLC grew its holdings in General Mills by 1.0% during the fourth quarter. Traverso Chambers Private Wealth Management LLC now owns 16,156 shares of the company’s stock valued at $1,052,000 after purchasing an additional 156 shares during the period. Park Place Capital Corp grew its holdings in General Mills by 40.6% during the first 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, Nicholas Hoffman & Company LLC. grew its holdings in General Mills by 2.9% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 5,866 shares of the company’s stock valued at $382,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.