Royal Bank of Canada Reiterates Sector Perform Rating for General Mills (NYSE:GIS)

General Mills (NYSE:GIS)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They currently have a $70.00 target price on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 10.05% from the stock’s current price.

Several other research firms have also commented on GIS. Piper Sandler lifted their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Wells Fargo & Company reduced their target price on shares of General Mills from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday. Stifel Nicolaus increased their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Bank of America upgraded General Mills from a “neutral” rating to a “buy” rating and upped their price objective for the company from $78.00 to $80.00 in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and an average price target of $71.56.

General Mills Stock Down 0.6 %

Shares of GIS opened at $63.61 on Thursday. The stock has a 50 day moving average price of $66.47 and a 200 day moving average price of $68.11. The stock has a market capitalization of $35.31 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 3.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills has a one year low of $61.47 and a one year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that General Mills will post 4.5 earnings per share for the current fiscal year.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,230 shares of company stock valued at $4,547,822 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On General Mills

Several institutional investors have recently modified their holdings of the company. Values First Advisors Inc. purchased a new stake in General Mills during the third quarter worth approximately $27,000. First Foundation Advisors boosted its holdings in shares of General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. Planning Capital Management Corp grew its position in shares of General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the last quarter. Fairscale Capital LLC acquired a new stake in General Mills during the 2nd quarter worth $42,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in General Mills in the third quarter valued at $44,000. 75.71% of the stock is 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 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.