General Mills (NYSE:GIS) Receives Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of General Mills (NYSE:GIS) in a research report report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $70.00 price objective on the stock.

A number of other analysts have also recently weighed in on GIS. TD Cowen lowered their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group raised their price objective on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Barclays lowered their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Piper Sandler reduced their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus reduced their target price on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.71.

General Mills Stock Up 2.4 %

Shares of NYSE GIS opened at $61.01 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $33.63 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The stock’s fifty day simple moving average is $60.09 and its two-hundred day simple moving average is $65.55. General Mills has a 12-month low of $55.15 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, analysts expect that General Mills will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

Insider Transactions at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. acquired a new position in General Mills in the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC purchased a new stake in General Mills in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Mills in the fourth quarter valued at approximately $31,000. VSM Wealth Advisory LLC purchased a new stake in General Mills in the fourth quarter valued at approximately $32,000. Finally, Transce3nd LLC purchased a new stake in General Mills in the fourth quarter valued at approximately $32,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

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.