General Mills’ (GIS) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of General Mills (NYSE:GIS) in a research note released on Monday,Benzinga reports. They currently have a $45.00 price target on the stock.

Several other research analysts have also recently issued reports on GIS. Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. TD Cowen decreased their target price on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, July 2nd. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Wells Fargo & Company increased their price target on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $36.41.

General Mills Price Performance

Shares of GIS opened at $35.73 on Monday. General Mills has a twelve month low of $31.75 and a twelve month high of $51.33. The firm’s fifty day simple moving average is $37.82 and its 200-day simple moving average is $36.40. The firm has a market capitalization of $19.10 billion, a price-to-earnings ratio of -198.49, a PEG ratio of 1.93 and a beta of -0.01. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 23rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.35 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Equities analysts forecast that General Mills will post 3.06 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.8%. General Mills’s dividend payout ratio is -1,355.56%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC grew its position in General Mills by 7.8% during the 2nd 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 last quarter. Triumph Capital Management increased its stake in General Mills by 45.0% during the 2nd quarter. Triumph Capital Management now owns 915 shares of the company’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. HB Wealth Management LLC raised its holdings in General Mills by 0.6% in 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 last quarter. Investment Partners LTD. raised its holdings in General Mills by 7.0% in the fourth quarter. Investment Partners LTD. now owns 5,097 shares of the company’s stock worth $237,000 after buying an additional 334 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after buying an additional 337 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Trending Headlines about General Mills

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: General Mills reported fiscal Q1 adjusted EPS of $0.75, exceeding the $0.72 analyst consensus, while revenue of $4.39 billion also topped expectations. Stronger demand for pantry staples and breakfast cereals helped sales as consumers ate more meals at home. Reuters article
• Positive Sentiment: The company reaffirmed its fiscal 2027 targets, including organic net sales ranging from a 1.5% decline to 0.5% growth and adjusted diluted EPS of $3.00 to $3.20. Maintaining guidance reduces concerns that inflation and weak consumption will force another downgrade. General Mills earnings release
• Positive Sentiment: International sales increased 4%, with international profit reportedly rising 14%, offering evidence that product innovation and the turnaround plan are gaining traction outside North America. Motley Fool article

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer food products. Its portfolio includes cereals, snacks, refrigerated and shelf-stable meals, baking products, yogurt, and pet food.

The company’s brands include Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso, Yoplait, Blue Buffalo, and Häagen-Dazs in markets where it owns or licenses the brand. General Mills sells its products through grocery stores, mass merchants, convenience stores, e-commerce channels, restaurants, and other foodservice providers.

General Mills traces its history to the Minneapolis Milling Company, founded in 1856, and adopted the General Mills name in 1928.