Deutsche Bank Aktiengesellschaft Raises General Mills (NYSE:GIS) Price Target to $88.00

General Mills (NYSE:GISGet Rating) had its price target raised by Deutsche Bank Aktiengesellschaft from $81.00 to $88.00 in a research report report published on Thursday morning, The Fly reports.

Other analysts have also recently issued reports about the stock. Citigroup raised their price target on shares of General Mills from $82.00 to $88.00 and gave the stock a buy rating in a report on Thursday, June 30th. Royal Bank of Canada raised their price target on shares of General Mills from $66.00 to $68.00 and gave the stock a sector perform rating in a report on Friday, July 1st. Piper Sandler raised their price objective on shares of General Mills from $75.00 to $80.00 and gave the company an overweight rating in a research report on Thursday, June 30th. BMO Capital Markets raised their price objective on shares of General Mills from $66.00 to $80.00 and gave the company a market perform rating in a research report on Thursday, June 30th. Finally, Morgan Stanley raised their price objective on shares of General Mills from $56.00 to $66.00 and gave the company an underweight rating in a research report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Mills currently has an average rating of Hold and an average target price of $76.83.

General Mills Stock Performance

Shares of GIS opened at $80.78 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.63 and a quick ratio of 0.40. The stock has a market cap of $48.12 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.52 and a beta of 0.33. The company has a 50-day moving average of $76.11 and a two-hundred day moving average of $71.77. General Mills has a one year low of $58.85 and a one year high of $81.24.

General Mills (NYSE:GISGet Rating) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.72 billion. General Mills had a net margin of 14.25% and a return on equity of 23.74%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. On average, equities research analysts expect that General Mills will post 4 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently declared a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were given a $0.54 dividend. The ex-dividend date was Thursday, July 7th. General Mills’s dividend payout ratio is 48.87%.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 37,895 shares of General Mills stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total value of $3,031,600.00. Following the transaction, the chief executive officer now owns 279,482 shares of the company’s stock, valued at $22,358,560. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Jeffrey L. Harmening sold 37,895 shares of the business’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $3,031,600.00. Following the transaction, the chief executive officer now owns 279,482 shares of the company’s stock, valued at $22,358,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jodi J. Benson sold 15,685 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the transaction, the insider now directly owns 38,085 shares in the company, valued at approximately $2,865,896.25. The disclosure for this sale can be found here. Insiders have sold a total of 96,317 shares of company stock valued at $7,429,156 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Mills

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in General Mills by 6.9% during the first quarter. BlackRock Inc. now owns 48,512,369 shares of the company’s stock worth $3,285,257,000 after acquiring an additional 3,122,049 shares during the period. State Street Corp boosted its stake in General Mills by 2.3% during the first quarter. State Street Corp now owns 35,209,877 shares of the company’s stock worth $2,384,413,000 after buying an additional 786,443 shares in the last quarter. Capital International Investors boosted its stake in General Mills by 2.2% during the first quarter. Capital International Investors now owns 34,562,381 shares of the company’s stock worth $2,340,594,000 after buying an additional 743,351 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in General Mills by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock worth $734,907,000 after buying an additional 75,902 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in General Mills by 1.7% during the second quarter. Northern Trust Corp now owns 7,662,897 shares of the company’s stock worth $578,165,000 after buying an additional 126,490 shares in the last quarter. Institutional investors own 75.48% of the company’s stock.

About General Mills

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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