Deutsche Bank Aktiengesellschaft Cuts General Mills (NYSE:GIS) Price Target to $32.00

General Mills (NYSE:GIS) had its price target cut by Deutsche Bank Aktiengesellschaft from $38.00 to $32.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of General Mills from $42.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, March 19th. Bank of America downgraded shares of General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a research report on Monday, February 23rd. Morgan Stanley decreased their price objective on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a research note on Wednesday, February 18th. Wells Fargo & Company cut shares of General Mills from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $45.00 to $35.00 in a research report on Thursday, March 12th. Finally, Mizuho cut their target price on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, General Mills presently has an average rating of “Reduce” and a consensus target price of $43.56.

General Mills Trading Up 0.1%

NYSE:GIS opened at $37.26 on Monday. The stock has a fifty day simple moving average of $43.14 and a 200 day simple moving average of $45.88. The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of 9.11 and a beta of 0.01. General Mills has a 1-year low of $35.63 and a 1-year high of $62.61. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. General Mills’s quarterly revenue was down 8.4% on a year-over-year basis. Sell-side analysts forecast that General Mills will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.5%. General Mills’s payout ratio is presently 59.66%.

Institutional Investors Weigh In On General Mills

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIS. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of General Mills by 0.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 124,117 shares of the company’s stock worth $6,431,000 after acquiring an additional 366 shares in the last quarter. West Family Investments Inc. grew its stake in General Mills by 78.6% in the second quarter. West Family Investments Inc. now owns 6,447 shares of the company’s stock valued at $334,000 after purchasing an additional 2,837 shares in the last quarter. New York State Common Retirement Fund increased its position in General Mills by 9.3% in the 2nd quarter. New York State Common Retirement Fund now owns 386,698 shares of the company’s stock worth $20,035,000 after purchasing an additional 33,000 shares during the last quarter. Lido Advisors LLC raised its stake in shares of General Mills by 2.4% during the 2nd quarter. Lido Advisors LLC now owns 36,900 shares of the company’s stock worth $1,912,000 after purchasing an additional 859 shares in the last quarter. Finally, Portfolio Design Labs LLC raised its stake in shares of General Mills by 13.0% during the 2nd quarter. Portfolio Design Labs LLC now owns 77,189 shares of the company’s stock worth $3,999,000 after purchasing an additional 8,868 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.