General Mills (NYSE:GIS) Raised to Outperform at CSFB

CSFB upgraded shares of General Mills (NYSE:GIS) to an outperform rating in a research note released on Friday, Stock Target Advisor reports. The firm currently has $67.00 target price on the stock.

Several other equities analysts have also recently issued reports on the company. Guggenheim increased their target price on General Mills from $66.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday, July 15th. They noted that the move was a valuation call. Piper Sandler increased their target price on General Mills from $71.00 to $73.00 and gave the stock an overweight rating in a research report on Thursday. Zacks Investment Research raised General Mills from a hold rating to a buy rating and set a $65.00 target price on the stock in a research report on Tuesday, July 7th. Stifel Nicolaus dropped their target price on General Mills from $62.00 to $60.00 and set a hold rating on the stock in a research report on Thursday, July 2nd. Finally, Credit Suisse Group raised General Mills from a neutral rating to an outperform rating and increased their target price for the stock from $65.00 to $67.00 in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $63.56.

General Mills stock opened at $59.67 on Friday. The stock has a market cap of $36.45 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 2.22 and a beta of 0.59. The company has a current ratio of 0.68, a quick ratio of 0.49 and a debt-to-equity ratio of 1.31. The stock has a 50 day moving average of $61.91 and a 200-day moving average of $60.28. General Mills has a 52 week low of $46.59 and a 52 week high of $66.14.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 23rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.13. General Mills had a return on equity of 27.66% and a net margin of 12.37%. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts predict that General Mills will post 3.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a $0.51 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, October 8th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.42%. General Mills’s dividend payout ratio (DPR) is 54.29%.

In other news, insider Jodi J. Benson sold 2,667 shares of the firm’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $65.05, for a total transaction of $173,488.35. Following the completion of the sale, the insider now directly owns 42,723 shares of the company’s stock, valued at approximately $2,779,131.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Richard C. Allendorf sold 13,897 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $64.72, for a total value of $899,413.84. Following the sale, the general counsel now directly owns 98,562 shares of the company’s stock, valued at $6,378,932.64. The disclosure for this sale can be found here. Insiders have sold a total of 60,711 shares of company stock valued at $3,920,384 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of GIS. Prestige Wealth Management Group LLC raised its stake in shares of General Mills by 86.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 483 shares of the company’s stock valued at $25,000 after acquiring an additional 224 shares in the last quarter. Balentine LLC bought a new position in shares of General Mills in the 1st quarter valued at approximately $27,000. San Francisco Sentry Investment Group CA raised its stake in shares of General Mills by 150.5% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 496 shares of the company’s stock valued at $31,000 after acquiring an additional 298 shares in the last quarter. Watson Rebecca bought a new position in shares of General Mills in the 2nd quarter valued at approximately $33,000. Finally, Rosenberg Matthew Hamilton bought a new position in shares of General Mills in the 2nd quarter valued at approximately $36,000. 72.40% 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 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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