General Mills (NYSE:GIS) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of General Mills (NYSE:GIS) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $70.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Barclays upped their target price on General Mills from $70.00 to $72.00 and gave the company an equal weight rating in a research report on Friday, March 22nd. Bank of America raised their price objective on General Mills from $68.00 to $72.00 and gave the stock a neutral rating in a research note on Thursday, March 21st. TD Cowen upped their target price on General Mills from $68.00 to $70.00 and gave the company a market perform rating in a research report on Thursday, March 21st. Wells Fargo & Company raised their price target on shares of General Mills from $65.00 to $70.00 and gave the stock an equal weight rating in a research report on Thursday, March 21st. Finally, Morgan Stanley lifted their price objective on shares of General Mills from $58.00 to $61.00 and gave the company an underweight rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, General Mills has a consensus rating of Hold and an average price target of $70.44.

General Mills Price Performance

Shares of NYSE GIS opened at $63.26 on Thursday. General Mills has a fifty-two week low of $60.33 and a fifty-two week high of $77.63. The company has a market cap of $35.31 billion, a PE ratio of 14.68, a P/E/G ratio of 3.01 and a beta of 0.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.40 and a current ratio of 0.65. The business has a 50-day simple moving average of $68.51 and a two-hundred day simple moving average of $66.74.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the business earned $1.12 EPS. As a group, equities analysts expect that General Mills will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.79%. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s dividend payout ratio is presently 54.76%.

Insider Activity at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares in the company, valued at $1,227,706.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Operose Advisors LLC lifted its position in shares of General Mills by 214.1% in the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock valued at $26,000 after acquiring an additional 274 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in General Mills during the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new stake in General Mills in the 4th quarter valued at about $28,000. Rise Advisors LLC lifted its stake in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

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