JPMorgan Chase & Co. Boosts General Mills (NYSE:GIS) Price Target to $67.00

General Mills (NYSE:GIS) had its price target upped by JPMorgan Chase & Co. from $63.00 to $67.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

GIS has been the subject of several other reports. Bank of America upped their target price on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Evercore ISI decreased their target price 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. Piper Sandler upped their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Barclays upped their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. One equities 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. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $73.00.

General Mills Price Performance

GIS opened at $71.00 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. General Mills has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a 50 day moving average of $72.31 and a two-hundred day moving average of $69.21. The company has a market cap of $39.63 billion, a P/E ratio of 16.47, a P/E/G ratio of 3.71 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its earnings results 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 net margin of 12.14% and a return on equity of 26.85%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. On average, analysts expect that General Mills will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.60 dividend. 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 3.38%. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Insider Buying and Selling

In related news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On General Mills

A number of institutional investors and hedge funds have recently bought and sold shares of GIS. Rise Advisors LLC boosted its position in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares in the last quarter. RFP Financial Group LLC boosted its position in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares in the last quarter. Perkins Coie Trust Co boosted its position in shares of General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its position in shares of General Mills by 65.5% during the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after purchasing an additional 180 shares in the last quarter. 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.