General Mills (NYSE:GIS) Price Target Raised to $84.00

General Mills (NYSE:GIS) had its price target upped by Piper Sandler from $74.00 to $84.00 in a research note issued to investors on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. 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. 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 price target for the company. Bank of America boosted their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a neutral rating in a report on Thursday, September 12th. Finally, Stifel Nicolaus cut their price target on shares of General Mills from $77.00 to $70.00 and set a buy rating for the company in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $72.73.

General Mills Stock Down 0.5 %

GIS stock opened at $74.51 on Thursday. The firm has a 50 day moving average of $69.92 and a 200 day moving average of $68.54. The stock has a market capitalization of $41.59 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. General Mills has a 52 week low of $60.33 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating 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 period in the previous year, the business posted $1.09 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that General Mills will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently announced 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. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.22%. General Mills’s dividend payout ratio is presently 55.68%.

Institutional Investors Weigh In On General Mills

A number of large investors have recently modified their holdings of GIS. Arkadios Wealth Advisors boosted its position in shares of General Mills by 41.8% during the 2nd 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 during the last quarter. Optimist Retirement Group LLC acquired a new position in shares of General Mills during the 4th quarter valued at about $1,171,000. State Board of Administration of Florida Retirement System boosted its position 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 valued at $48,177,000 after acquiring an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of 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 acquiring an additional 96,712 shares during the last quarter. Finally, Mitchell Sinkler & Starr PA boosted its position in shares of General Mills by 164.1% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock valued at $1,307,000 after acquiring an additional 11,298 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

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.