General Mills (NYSE:GIS) Price Target Increased to $71.00 by Analysts at Morgan Stanley

General Mills (NYSE:GISGet Rating) had its price objective upped by Morgan Stanley from $66.00 to $71.00 in a research report released on Thursday morning, Stock Target Advisor reports. Morgan Stanley currently has an underweight rating on the stock.

GIS has been the subject of a number of other reports. Piper Sandler raised their price target on General Mills from $80.00 to $88.00 and gave the stock an overweight rating in a research note on Thursday. Bank of America lifted their target price on General Mills from $74.00 to $81.00 and gave the company a neutral rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on General Mills from $81.00 to $88.00 in a research report on Thursday. BMO Capital Markets lifted their target price on General Mills from $80.00 to $85.00 in a research report on Thursday. Finally, Credit Suisse Group set a $74.00 target price on General Mills in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, General Mills currently has an average rating of Hold and a consensus price target of $76.83.

General Mills Price Performance

Shares of GIS stock opened at $80.78 on Thursday. General Mills has a 52-week low of $58.85 and a 52-week high of $81.24. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.40 and a current ratio of 0.63. The firm has a market capitalization of $48.12 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.52 and a beta of 0.33. The stock has a 50 day moving average price of $76.11 and a 200 day moving average price of $71.77.

General Mills (NYSE:GISGet Rating) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. General Mills had a return on equity of 23.74% and a net margin of 14.25%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same period last year, the company earned $0.99 EPS. General Mills’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills will post 4 earnings per share for the current year.

General Mills Announces Dividend

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

Insider Activity

In related news, CAO Mark A. Pallot sold 2,255 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $74.66, for a total transaction of $168,358.30. Following the transaction, the chief accounting officer now directly owns 17,087 shares in the company, valued at approximately $1,275,715.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Sean N. Walker sold 29,489 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the transaction, the insider now directly owns 89,989 shares in the company, valued at approximately $6,749,175. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mark A. Pallot sold 2,255 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $74.66, for a total value of $168,358.30. Following the sale, the chief accounting officer now owns 17,087 shares in the company, valued at approximately $1,275,715.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,317 shares of company stock worth $7,429,156. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of General Mills

Several large investors have recently added to or reduced their stakes in GIS. Capital International Investors grew its stake in General Mills by 20.5% during the 4th quarter. Capital International Investors now owns 33,819,030 shares of the company’s stock valued at $2,278,685,000 after purchasing an additional 5,742,286 shares during the last quarter. Norges Bank purchased a new stake in General Mills during the 4th quarter valued at about $278,095,000. BlackRock Inc. lifted its holdings in shares of General Mills by 6.9% in the 1st quarter. BlackRock Inc. now owns 48,512,369 shares of the company’s stock valued at $3,285,257,000 after buying an additional 3,122,049 shares during the period. First Trust Advisors LP lifted its holdings in shares of General Mills by 162.5% in the 1st quarter. First Trust Advisors LP now owns 4,130,154 shares of the company’s stock valued at $279,694,000 after buying an additional 2,556,537 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of General Mills by 15.6% in the 1st quarter. Bank of America Corp DE now owns 6,227,105 shares of the company’s stock valued at $421,700,000 after buying an additional 842,191 shares during the period. Hedge funds and other 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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