General Mills (NYSE:GIS) Price Target Lowered to $60.00 at Mizuho

General Mills (NYSE:GIS) had its price objective cut by Mizuho from $62.00 to $60.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also weighed in on GIS. Piper Sandler decreased their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group upped their price objective on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 10th. Bank of America cut their target price on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Monday. Finally, Wells Fargo & Company cut their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus price target of $66.76.

General Mills Price Performance

NYSE:GIS opened at $58.31 on Thursday. 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 PE 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 quick ratio of 0.67 and a current ratio of 0.92. The stock has a 50 day moving average price of $59.99 and a 200 day moving average price of $65.37.

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, topping analysts’ consensus estimates 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 return on equity of 27.55% and a net margin of 13.08%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. Equities research analysts expect that General Mills will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Institutional Trading of General Mills

A number of large investors have recently made changes to their positions in GIS. Vanguard Group Inc. lifted its stake in General Mills by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock worth $4,376,573,000 after acquiring an additional 1,868,508 shares during the last quarter. State Street Corp lifted its position in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of General Mills by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock worth $923,907,000 after purchasing an additional 136,895 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after buying an additional 2,341,137 shares during the last quarter. Finally, Northern Trust Corp raised its stake in General Mills by 18.4% in the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock valued at $514,101,000 after buying an additional 1,253,483 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

About General Mills

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.