General Mills (NYSE:GIS) Price Target Cut to $67.00 by Analysts at Barclays

General Mills (NYSE:GIS) had its price objective cut by Barclays from $72.00 to $67.00 in a report issued on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also recently issued reports about the company. Mizuho lifted their price target on General Mills from $65.00 to $70.00 and gave the company a neutral rating in a research report on Thursday, March 21st. Citigroup lowered their price target on shares of General Mills from $71.00 to $68.00 and set a neutral rating on the stock in a report on Thursday. Wells Fargo & Company cut their price objective on shares of General Mills from $70.00 to $67.00 and set an equal weight rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered their target price on shares of General Mills from $70.00 to $63.00 and set a neutral rating on the stock in a research note on Thursday. Finally, Evercore ISI dropped their price target on shares of General Mills from $76.00 to $72.00 and set an in-line rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, General Mills has a consensus rating of Hold and a consensus price target of $70.44.

General Mills Price Performance

GIS stock opened at $63.26 on Friday. The company has a 50-day moving average price of $68.51 and a 200 day moving average price of $66.75. The stock has a market cap of $35.93 billion, a PE ratio of 14.68, a P/E/G ratio of 3.05 and a beta of 0.12. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 1.17. General Mills has a 12 month low of $60.33 and a 12 month high of $77.63.

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

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, July 10th. 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. General Mills’s dividend payout ratio is presently 54.76%.

Insider Buying and Selling

In other news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total value 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 approximately $1,227,706.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

Institutional Trading of General Mills

Several hedge funds and other institutional investors have recently made changes to their positions in GIS. MeadowBrook Investment Advisors LLC acquired a new stake in shares of General Mills during the 4th quarter valued at approximately $27,000. Rise Advisors LLC increased its position in shares of General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after buying an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after buying an additional 336 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in General Mills in the 4th quarter valued at about $28,000. Finally, RFP Financial Group LLC increased its holdings in General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.