General Mills (NYSE:GIS) Given New $65.00 Price Target at Barclays

General Mills (NYSE:GIS) had its price objective decreased by Barclays from $68.00 to $65.00 in a research report report published on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company decreased their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. 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 report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Mizuho reduced their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.53.

General Mills Stock Performance

Shares of GIS opened at $60.33 on Tuesday. 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 firm has a market cap of $33.25 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company’s 50 day simple moving average is $60.08 and its 200-day simple moving average is $65.47. General Mills has a 12-month low of $55.15 and a 12-month high of $75.90.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.98%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is 52.17%.

Insider Buying and Selling at General Mills

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

Hedge Funds Weigh In On General Mills

Several hedge funds and other institutional investors have recently bought and sold shares of GIS. Endeavor Private Wealth Inc. acquired a new position in General Mills during the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Mills in the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Mills in the 4th quarter valued at approximately $31,000. VSM Wealth Advisory LLC acquired a new position in shares of General Mills in the 4th quarter valued at approximately $32,000. Finally, Transce3nd LLC acquired a new position in shares of General Mills in the 4th quarter valued at approximately $32,000. 75.71% of the stock is 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.