Piper Sandler Increases General Mills (NYSE:GIS) Price Target to $88.00

General Mills (NYSE:GISGet Rating) had its target price hoisted by Piper Sandler from $80.00 to $88.00 in a research note published on Thursday, The Fly reports. They currently have an overweight rating on the stock.

Several other analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Mills from $81.00 to $88.00 in a report on Thursday. Citigroup upped their price target on shares of General Mills from $82.00 to $88.00 and gave the company a buy rating in a report on Thursday, June 30th. BMO Capital Markets boosted 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. Royal Bank of Canada boosted their price objective on shares of General Mills from $66.00 to $68.00 and gave the company a sector perform rating in a research report on Friday, July 1st. Finally, Credit Suisse Group set a $74.00 price objective on shares of General Mills in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $76.83.

General Mills Stock Up 1.3 %

GIS stock opened at $80.78 on Thursday. The company has a market cap 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. General Mills has a 52 week low of $58.85 and a 52 week high of $81.24. The company’s 50-day moving average price is $76.11 and its 200 day moving average price is $71.77. The company has a current ratio of 0.63, a quick ratio of 0.40 and a debt-to-equity ratio of 0.85.

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

General Mills Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Mark A. Pallot sold 2,255 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $74.66, for a total transaction of $168,358.30. Following the completion of the transaction, the chief accounting officer now owns 17,087 shares of the company’s stock, valued at $1,275,715.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Sean N. Walker sold 29,489 shares of the stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $75.00, for a total value of $2,211,675.00. Following the completion of the sale, the insider now owns 89,989 shares of the company’s stock, valued at $6,749,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark A. Pallot sold 2,255 shares of the 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 completion of the sale, the chief accounting officer now directly owns 17,087 shares of the company’s stock, valued at approximately $1,275,715.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,317 shares of company stock valued at $7,429,156. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On General Mills

Several large investors have recently made changes to their positions in GIS. Marquette Asset Management LLC acquired a new stake in shares of General Mills in the first quarter worth $26,000. Dravo Bay LLC purchased a new position in shares of General Mills in the first quarter valued at $27,000. Core Alternative Capital boosted its stake in shares of General Mills by 1,160.6% in the first quarter. Core Alternative Capital now owns 416 shares of the company’s stock valued at $28,000 after purchasing an additional 383 shares during the period. Canton Hathaway LLC purchased a new position in shares of General Mills in the second quarter valued at $29,000. Finally, Capital Analysts LLC boosted its stake in shares of General Mills by 95.0% in the second quarter. Capital Analysts LLC now owns 390 shares of the company’s stock valued at $29,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 75.48% of the company’s stock.

General Mills Company Profile

(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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