General Mills (NYSE:GIS) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of General Mills (NYSE:GIS – Get Rating) in a report issued on Thursday. The firm issued a hold rating on the stock.

GIS has been the subject of several other reports. Morgan Stanley dropped their price target on General Mills from $73.00 to $69.00 and set an underweight rating for the company in a research note on Thursday, February 16th. Mizuho began coverage on General Mills in a research report on Wednesday, February 1st. They issued a neutral rating and a $75.00 target price for the company. Piper Sandler upped their target price on General Mills from $88.00 to $95.00 and gave the stock an overweight rating in a research report on Thursday, December 15th. Stifel Nicolaus upped their target price on General Mills from $82.00 to $84.00 and gave the stock a hold rating in a research report on Wednesday, February 22nd. Finally, Royal Bank of Canada upped their target price on General Mills from $72.00 to $76.00 and gave the stock a sector perform rating in a research report on Wednesday, December 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, General Mills has a consensus rating of Hold and a consensus target price of $82.94.

General Mills Stock Performance

Shares of NYSE:GIS opened at $79.79 on Thursday. The firm has a market capitalization of $47.04 billion, a PE ratio of 16.66, a P/E/G ratio of 2.56 and a beta of 0.28. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.58 and a quick ratio of 0.35. The business has a 50-day moving average of $78.79 and a two-hundred day moving average of $79.91. General Mills has a 12 month low of $61.67 and a 12 month high of $88.34.

General Mills (NYSE:GIS – Get Rating) last announced its quarterly earnings results on Tuesday, December 20th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.06 by $0.04. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. General Mills had a return on equity of 24.09% and a net margin of 15.02%. As a group, research analysts forecast that General Mills will post 4.18 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Thursday, April 6th. General Mills’s dividend payout ratio is currently 45.09%.

Insider Activity at General Mills

In other General Mills news, CAO Mark A. Pallot sold 1,955 shares of the stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $85.99, for a total transaction of $168,110.45. Following the transaction, the chief accounting officer now owns 17,146 shares of the company’s stock, valued at approximately $1,474,384.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other General Mills news, insider Sean N. Walker sold 27,157 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $84.87, for a total transaction of $2,304,814.59. Following the transaction, the insider now owns 90,975 shares of the company’s stock, valued at approximately $7,721,048.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark A. Pallot sold 1,955 shares of the stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $85.99, for a total value of $168,110.45. Following the transaction, the chief accounting officer now directly owns 17,146 shares in the company, valued at approximately $1,474,384.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,006 shares of company stock valued at $3,393,359. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GIS. Moneta Group Investment Advisors LLC lifted its holdings in General Mills by 123,599.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,076,005 shares of the company’s stock worth $928,723,000 after buying an additional 11,067,051 shares during the last quarter. Norges Bank acquired a new stake in shares of General Mills during the 4th quarter worth approximately $382,081,000. Price T Rowe Associates Inc. MD raised its position in shares of General Mills by 341.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,438,344 shares of the company’s stock worth $288,305,000 after purchasing an additional 2,659,821 shares during the period. Capital Wealth Planning LLC raised its position in shares of General Mills by 42.2% during the 4th quarter. Capital Wealth Planning LLC now owns 3,547,188 shares of the company’s stock worth $297,432,000 after purchasing an additional 1,052,899 shares during the period. Finally, Morgan Stanley raised its position in shares of General Mills by 14.6% during the 4th quarter. Morgan Stanley now owns 8,249,549 shares of the company’s stock worth $691,725,000 after purchasing an additional 1,051,169 shares during the period. Institutional investors own 74.48% of the company’s stock.

General Mills Company Profile

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General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet, and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.