General Mills (NYSE:GIS) PT Raised to $61.00 at Jefferies Financial Group

General Mills (NYSE:GIS) had its price objective raised by analysts at Jefferies Financial Group from $56.00 to $61.00 in a report released on Thursday, The Fly reports. The firm currently has a “positive” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 1.73% from the stock’s previous close.

A number of other brokerages have also recently commented on GIS. Stifel Nicolaus raised their target price on General Mills from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, March 19th. Deutsche Bank raised their target price on General Mills from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Piper Sandler raised their target price on General Mills from $67.00 to $71.00 and gave the stock an “outperform” rating in a report on Tuesday. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $45.00 to $57.00 in a research note on Wednesday, March 18th. Finally, UBS Group increased their price target on General Mills from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. General Mills presently has an average rating of “Hold” and a consensus target price of $59.74.

General Mills stock traded up $0.01 during trading on Thursday, reaching $59.96. The company had a trading volume of 2,089,528 shares, compared to its average volume of 3,313,174. General Mills has a 52 week low of $46.59 and a 52 week high of $64.31. The firm’s 50-day simple moving average is $59.48 and its 200 day simple moving average is $54.45. The firm has a market capitalization of $36.34 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.23 and a beta of 0.60. The company has a current ratio of 0.64, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 18th. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. General Mills had a return on equity of 26.40% and a net margin of 12.68%. The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm earned $0.83 EPS. General Mills’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts predict that General Mills will post 3.58 earnings per share for the current year.

In related news, insider Shawn P. Ogrady sold 46,371 shares of General Mills stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $59.95, for a total value of $2,779,941.45. Following the completion of the transaction, the insider now owns 177,276 shares in the company, valued at $10,627,696.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R Kerry Clark sold 12,248 shares of General Mills stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $57.24, for a total value of $701,075.52. Following the completion of the transaction, the director now owns 62,945 shares of the company’s stock, valued at approximately $3,602,971.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,668 shares of company stock valued at $8,078,504. Company insiders own 0.52% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Paragon Capital Management LLC purchased a new position in General Mills in the first quarter worth about $25,000. Prestige Wealth Management Group LLC grew its position in General Mills by 86.5% in the first quarter. Prestige Wealth Management Group LLC now owns 483 shares of the company’s stock worth $25,000 after acquiring an additional 224 shares in the last quarter. Royal Fund Management LLC purchased a new position in General Mills in the first quarter worth about $26,000. Balentine LLC purchased a new position in General Mills in the first quarter worth about $27,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in General Mills in the first quarter worth about $28,000. Institutional investors own 70.30% of the company’s stock.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Analyst Recommendations for General Mills (NYSE:GIS)

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