General Mills (NYSE:GIS) Given New $71.00 Price Target at Piper Sandler

General Mills (NYSE:GIS) had its price objective reduced by Piper Sandler from $84.00 to $71.00 in a report published on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Barclays lowered their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. TD Cowen lowered their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Bank of America cut their price target on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Mizuho cut their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus price target of $69.06.

General Mills Trading Up 1.2 %

NYSE:GIS opened at $59.99 on Tuesday. The firm has a market capitalization of $33.07 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The business has a fifty day moving average price of $60.55 and a 200-day moving average price of $66.33. General Mills has a one year low of $55.15 and a one year high of $75.90.

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

General Mills Announces Dividend

The firm 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 $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.00%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Activity at General Mills

In other General Mills news, 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 transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On General Mills

A number of institutional investors and hedge funds have recently modified their holdings of GIS. Endeavor Private Wealth Inc. purchased a new stake in General Mills during the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Mills in the fourth quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Mills in the 4th quarter worth about $31,000. VSM Wealth Advisory LLC purchased a new position in shares of General Mills during the 4th quarter worth about $32,000. Finally, Transce3nd LLC bought a new position in General Mills during the 4th quarter valued at about $32,000. 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 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.