General Mills (NYSE:GIS) Price Target Lowered to $68.00 at Bank of America

General Mills (NYSE:GIS) had its price objective decreased by Bank of America from $70.00 to $68.00 in a research report report published on Thursday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Citigroup decreased their target price on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Stifel Nicolaus cut their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. TD Cowen decreased their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays lowered their price target on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $66.76.

General Mills Stock Performance

Shares of GIS stock opened at $58.31 on Thursday. The company has a fifty day moving average price of $59.99 and a two-hundred day moving average price of $65.37. General Mills has a one year low of $55.15 and a one year high of $75.90. The stock has a market cap of $32.14 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the business posted $1.17 EPS. As a group, equities analysts predict that General Mills will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. acquired a new stake in shares of General Mills in the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in General Mills in the fourth quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in General Mills in the fourth quarter valued at about $31,000. VSM Wealth Advisory LLC acquired a new position in General Mills during the fourth quarter worth about $32,000. Finally, Transce3nd LLC bought a new position in shares of General Mills in the fourth quarter worth about $32,000. 75.71% of the stock is owned by 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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.