General Mills (NYSE:GIS) PT Raised to $56.00 at Piper Jaffray Companies

General Mills (NYSE:GIS) had its price target lifted by Piper Jaffray Companies from $50.00 to $56.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. UBS Group set a €83.00 ($96.51) target price on shares of Schneider Electric and gave the company a buy rating in a research report on Thursday, June 27th. TheStreet upgraded shares of Tupperware Brands from a d+ rating to a c rating in a research report on Friday, March 15th. Wells Fargo & Co restated a hold rating and issued a $160.00 target price on shares of Willis Towers Watson in a research report on Friday, March 22nd. Evercore ISI began coverage on shares of Mondelez International in a research report on Tuesday, June 11th. They issued an outperform rating and a $62.00 target price for the company. Finally, Credit Suisse Group set a $15.00 target price on shares of C&J Energy Services and gave the company a hold rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. General Mills currently has a consensus rating of Hold and a consensus target price of $52.66.

Shares of NYSE:GIS opened at $53.44 on Wednesday. The firm has a 50 day moving average price of $52.53. The firm has a market cap of $32.17 billion, a PE ratio of 16.60, a PEG ratio of 2.27 and a beta of 0.77. The company has a quick ratio of 0.37, a current ratio of 0.59 and a debt-to-equity ratio of 1.58. General Mills has a 12 month low of $36.42 and a 12 month high of $54.74.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 EPS. On average, sell-side analysts forecast that General Mills will post 3.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, July 9th. General Mills’s dividend payout ratio (DPR) is presently 60.87%.

Several institutional investors have recently made changes to their positions in the stock. Legacy Advisors LLC bought a new stake in General Mills during the 1st quarter worth approximately $31,000. Certified Advisory Corp grew its holdings in General Mills by 100.9% during the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after acquiring an additional 323 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in General Mills during the 1st quarter worth approximately $35,000. BDO Wealth Advisors LLC bought a new stake in General Mills during the 4th quarter worth approximately $37,000. Finally, Penserra Capital Management LLC bought a new stake in General Mills during the 1st quarter worth approximately $40,000. 69.77% of the stock is currently owned by institutional investors.

About General Mills

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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