General Mills, Inc. (NYSE:GIS) Given Average Rating of “Hold” by Brokerages

General Mills, Inc. (NYSE:GIS) has been assigned a consensus rating of “Hold” from the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $72.73.

GIS has been the subject of several recent research reports. Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Mizuho dropped their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Evercore ISI decreased their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Finally, The Goldman Sachs Group started coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock.

General Mills Trading Up 0.8 %

Shares of General Mills stock opened at $73.61 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills has a 12-month low of $60.33 and a 12-month high of $75.90. The stock has a market cap of $41.09 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 3.82 and a beta of 0.10. The company has a fifty day simple moving average of $71.74 and a 200-day simple moving average of $69.08.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share. On average, equities analysts forecast that General Mills will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.26%. General Mills’s payout ratio is 55.68%.

Insider Transactions at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On General Mills

A number of large investors have recently bought and sold shares of the stock. Arkadios Wealth Advisors lifted its position in shares of General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after acquiring an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC acquired a new stake in shares of General Mills during the 4th quarter worth about $1,171,000. State Board of Administration of Florida Retirement System boosted its stake in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of General Mills by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after buying an additional 96,712 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its position in shares of General Mills by 92.5% in the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock valued at $3,409,000 after buying an additional 23,411 shares during the last quarter. Institutional investors and hedge funds 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 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.