General Mills (NYSE:GIS) Price Target Cut to $60.00 by Analysts at JPMorgan Chase & Co.

General Mills (NYSE:GIS) had its target price trimmed by JPMorgan Chase & Co. from $62.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on the stock. Bank of America decreased their target price on shares of General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. TD Cowen decreased their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Piper Sandler decreased their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Barclays reduced their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.24.

General Mills Price Performance

Shares of NYSE GIS opened at $59.72 on Tuesday. The firm’s 50-day moving average price is $60.19 and its 200-day moving average price is $65.78. General Mills has a 1-year low of $55.15 and a 1-year high of $75.90. The firm has a market capitalization of $32.92 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. Equities research analysts anticipate that General Mills will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced 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 4.02%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were 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. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Trading of General Mills

A number of institutional investors have recently modified their holdings of GIS. CWA Asset Management Group LLC purchased a new stake in shares of General Mills during the 3rd quarter valued at approximately $286,000. Mesirow Financial Investment Management Inc. lifted its stake in shares of General Mills by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after buying an additional 148 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of General Mills during the 3rd quarter valued at approximately $51,000. Nations Financial Group Inc. IA ADV lifted its stake in shares of General Mills by 23.5% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,258 shares of the company’s stock valued at $684,000 after buying an additional 1,762 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of General Mills by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,594,383 shares of the company’s stock valued at $117,745,000 after buying an additional 8,345 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Company Profile

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.