General Mills, Inc. (NYSE:GIS) Stock Has Consensus Target Price of $36.59

General Mills, Inc. (NYSE:GIS) has been assigned a consensus rating of “Reduce” from the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $36.59.

A number of research analysts recently commented on GIS shares. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. raised their target price on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Barclays lifted their target price on General Mills from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Friday, September 25th. Piper Sandler reaffirmed an “overweight” rating on shares of General Mills in a research note on Thursday, September 24th. Finally, TD Cowen increased their price target on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, September 24th.

General Mills Price Performance

Shares of GIS stock opened at $33.30 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.70 and a quick ratio of 0.39. The firm’s 50-day moving average is $35.51 and its two-hundred day moving average is $37.66. General Mills has a 12 month low of $31.17 and a 12 month high of $49.59. The company has a market capitalization of $17.81 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.03.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period in the previous year, the business posted $0.86 EPS. General Mills’s revenue was down 2.8% on a year-over-year basis. Analysts predict that General Mills will post 3.08 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be given a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $2.44 dividend on an annualized basis and a yield of 7.3%. General Mills’s dividend payout ratio is presently -146.99%.

Institutional Investors Weigh In On General Mills

A number of institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC raised its position in General Mills by 7.8% in the second quarter. MCF Advisors LLC now owns 3,812 shares of the company’s stock valued at $133,000 after purchasing an additional 277 shares during the period. Triumph Capital Management boosted its position in shares of General Mills by 45.0% during the second quarter. Triumph Capital Management now owns 915 shares of the company’s stock worth $32,000 after buying an additional 284 shares during the period. HB Wealth Management LLC boosted its position in shares of General Mills by 0.6% during the first quarter. HB Wealth Management LLC now owns 48,145 shares of the company’s stock worth $1,792,000 after buying an additional 309 shares during the period. Union Savings Bank grew its stake in shares of General Mills by 23.7% in the third quarter. Union Savings Bank now owns 1,701 shares of the company’s stock valued at $55,000 after buying an additional 326 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of General Mills by 0.7% in the third quarter. Farmers & Merchants Investments Inc. now owns 50,595 shares of the company’s stock valued at $1,627,000 after buying an additional 339 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Company Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company’s brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie’s, Totino’s, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.