General Mills, Inc. (NYSE:GIS) shares reached a new 52-week high on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $71.00 to $72.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. General Mills traded as high as $65.44 and last traded at $65.44, with a volume of 106746 shares. The stock had previously closed at $64.76.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of General Mills from a “buy” rating to a “hold” rating and set a $67.00 price target for the company. in a research report on Friday, November 26th. Royal Bank of Canada raised their target price on shares of General Mills from $65.00 to $66.00 and gave the company a “sector perform” rating in a research note on Thursday, September 23rd. Citigroup raised shares of General Mills from a “neutral” rating to a “buy” rating and raised their target price for the company from $63.00 to $70.00 in a research note on Thursday, September 30th. Jefferies Financial Group assumed coverage on shares of General Mills in a research note on Thursday, September 23rd. They set a “hold” rating and a $64.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of General Mills from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, December 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $64.67.
In other news, insider Sean N. Walker sold 4,894 shares of General Mills stock in a transaction dated Wednesday, October 20th. The stock was sold at an average price of $62.76, for a total value of $307,147.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathon Nudi sold 9,725 shares of the business’s stock in a transaction dated Wednesday, October 6th. The stock was sold at an average price of $61.45, for a total value of $597,601.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,964 shares of company stock valued at $3,224,438. 0.53% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Inscription Capital LLC boosted its stake in General Mills by 666.9% in the 2nd quarter. Inscription Capital LLC now owns 49,309 shares of the company’s stock worth $3,004,000 after purchasing an additional 42,879 shares during the period. Clark Capital Management Group Inc. raised its holdings in shares of General Mills by 2.3% during the 2nd quarter. Clark Capital Management Group Inc. now owns 362,644 shares of the company’s stock worth $22,096,000 after acquiring an additional 7,984 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in General Mills by 7.7% during the 2nd quarter. Providence Capital Advisors LLC now owns 31,913 shares of the company’s stock valued at $1,944,000 after buying an additional 2,275 shares during the period. Nepsis Inc. raised its holdings in General Mills by 46.8% during the 3rd quarter. Nepsis Inc. now owns 47,985 shares of the company’s stock valued at $2,870,000 after buying an additional 15,292 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its holdings in General Mills by 9.8% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 40,861 shares of the company’s stock valued at $2,444,000 after buying an additional 3,655 shares during the period. Institutional investors and hedge funds own 75.17% of the company’s stock.
The company has a fifty day moving average of $62.67 and a two-hundred day moving average of $60.84. The company has a market cap of $39.81 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.28 and a beta of 0.53. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.54 and a current ratio of 0.78.
General Mills (NYSE:GIS) last released its earnings results on Tuesday, September 21st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. General Mills had a return on equity of 24.61% and a net margin of 12.72%. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm posted $1.00 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that General Mills, Inc. will post 3.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, December 10th will be paid a $0.51 dividend. The ex-dividend date is Friday, January 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.10%. General Mills’s payout ratio is 54.11%.
About General Mills (NYSE:GIS)
General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.
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