TD Cowen Raises General Mills (NYSE:GIS) Price Target to $75.00

General Mills (NYSE:GIS) had its target price increased by TD Cowen from $72.00 to $75.00 in a report released on Friday morning, Benzinga reports. TD Cowen currently has a hold rating on the stock.

GIS has been the subject of several other reports. Barclays raised their target price on shares of General Mills from $67.00 to $74.00 and gave the company an equal weight rating in a report on Friday. Evercore ISI cut their price objective on General Mills from $76.00 to $72.00 and set an in-line rating for the company in a research report on Friday, June 28th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an overweight rating in a report on Thursday. JPMorgan Chase & Co. dropped their price target on General Mills from $70.00 to $63.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Finally, Argus restated a hold rating on shares of General Mills in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Mills presently has an average rating of Hold and an average price target of $72.73.

General Mills Trading Down 0.5 %

Shares of General Mills stock opened at $74.51 on Friday. The company has a 50-day moving average of $69.92 and a two-hundred day moving average of $68.57. General Mills has a 12-month low of $60.33 and a 12-month high of $75.90. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The stock has a market cap 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.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, research analysts anticipate that General Mills will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

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

Hedge Funds Weigh In On General Mills

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC grew its stake in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after buying an additional 273 shares during the period. Capital Advisors Ltd. LLC increased its stake in General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares during the last quarter. RFP Financial Group LLC raised its holdings in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the period. Perkins Coie Trust Co lifted its stake in shares of General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC grew its holdings in shares of General Mills by 65.5% during the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

About General Mills

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.