General Mills (NYSE:GIS) Earns “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of General Mills (NYSE:GIS) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $70.00 price target on the stock.

GIS has been the topic of a number of other research reports. Wells Fargo & Company increased their price target on General Mills from $67.00 to $75.00 and gave the stock an equal weight rating in a research report on Friday, September 13th. Stifel Nicolaus decreased their price target on General Mills from $77.00 to $70.00 and set a buy rating on the stock in a research report on Thursday, June 27th. Piper Sandler upped their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an overweight rating in a research report on Thursday. The Goldman Sachs Group started coverage on shares of General Mills in a report on Monday, August 12th. They issued a buy rating and a $76.00 target price on the stock. Finally, Evercore ISI cut 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 report on Friday, June 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $72.73.

General Mills Stock Down 0.5 %

GIS opened at $74.51 on Thursday. The stock has a fifty day moving average of $69.92 and a 200-day moving average of $68.54. The company has a market capitalization of $41.59 billion, a P/E ratio of 17.29, a P/E/G ratio of 3.86 and a beta of 0.10. General Mills has a fifty-two week low of $60.33 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

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

General Mills Increases Dividend

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

Institutional Investors Weigh In On General Mills

Hedge funds have recently modified their holdings of the company. Rise Advisors LLC raised its position in General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 336 shares during the last quarter. RFP Financial Group LLC raised its holdings in General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. Perkins Coie Trust Co boosted its position in General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the period. Finally, GoalVest Advisory LLC grew its holdings in General Mills by 65.5% during the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after acquiring an additional 180 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.