General Mills (NYSE:GIS) PT Raised to $82.00

General Mills (NYSE:GIS) had its price target boosted by Stifel Nicolaus from $70.00 to $82.00 in a research report released on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

GIS has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of General Mills from $70.00 to $63.00 and set a neutral rating on the stock in a report on Thursday, June 27th. Wells Fargo & Company increased their price target on General Mills from $67.00 to $75.00 and gave the company an equal weight rating in a report on Friday, September 13th. Barclays dropped their price objective on General Mills from $72.00 to $67.00 and set an equal weight rating on the stock in a report on Friday, June 28th. Royal Bank of Canada reiterated a sector perform rating and set a $70.00 target price on shares of General Mills 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 for the company in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, General Mills presently has a consensus rating of Hold and an average target price of $72.73.

General Mills Price Performance

Shares of NYSE GIS opened at $74.51 on Thursday. The company has a market capitalization of $41.59 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 3.86 and a beta of 0.10. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. General Mills has a 1-year low of $60.33 and a 1-year high of $75.90. The business has a 50-day moving average of $69.92 and a 200-day moving average of $68.57.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. On average, equities analysts anticipate that General Mills will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.60 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, July 10th. General Mills’s payout ratio is presently 55.68%.

Institutional Trading of General Mills

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arkadios Wealth Advisors increased its position in General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after buying an additional 10,765 shares during the period. Optimist Retirement Group LLC bought a new stake in General Mills in the 4th quarter valued at about $1,171,000. State Board of Administration of Florida Retirement System boosted its stake in 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 valued at $48,177,000 after purchasing an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares during the period. Finally, Mitchell Sinkler & Starr PA grew its position in General Mills by 164.1% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock worth $1,307,000 after purchasing an additional 11,298 shares during the last quarter. 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.