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

General Mills (NYSE:GISGet Free Report)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Thursday, Benzinga reports. They currently have a $72.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 4.20% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company raised their target price on General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on General Mills from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI cut their price target on General Mills from $75.00 to $72.00 and set an “in-line” rating on the stock in a research report on Monday, December 11th. Citigroup started coverage on General Mills in a research report on Thursday, February 1st. They set a “neutral” rating and a $67.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday. Two investment analysts have 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.50.

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General Mills Price Performance

Shares of NYSE GIS opened at $69.10 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.36 and a current ratio of 0.66. General Mills has a fifty-two week low of $60.33 and a fifty-two week high of $90.89. The firm has a market capitalization of $39.24 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.44 and a beta of 0.15. The stock’s 50-day simple moving average is $64.67 and its 200-day simple moving average is $64.74.

General Mills (NYSE:GISGet Free Report) last issued its earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter last year, the company earned $0.97 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that General Mills will post 4.49 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at $20,523,044.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the sale, the chief executive officer now directly owns 318,483 shares in the company, valued at $20,523,044.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the sale, the insider now owns 102,924 shares in the company, valued at $6,602,574.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,782 shares of company stock valued at $4,365,720. Company insiders own 0.24% of the company’s stock.

Institutional Trading of General Mills

A number of institutional investors have recently modified their holdings of GIS. Cibc World Market Inc. boosted its position in General Mills by 4.8% during the first quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,003 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in General Mills by 45.3% during the first quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock worth $397,000 after purchasing an additional 1,828 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in General Mills by 2.1% during the first quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock worth $4,955,000 after purchasing an additional 1,503 shares in the last quarter. Baird Financial Group Inc. boosted its position in General Mills by 2.3% during the first quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock worth $18,935,000 after purchasing an additional 6,176 shares in the last quarter. Finally, Covestor Ltd boosted its position in General Mills by 15.3% during the first quarter. Covestor Ltd now owns 1,834 shares of the company’s stock worth $124,000 after purchasing an additional 244 shares in the last quarter. 75.31% of the stock is currently owned by hedge funds and other institutional investors.

About General Mills

(Get Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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Analyst Recommendations for General Mills (NYSE:GIS)

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