JPMorgan Chase & Co. Boosts General Mills (NYSE:GIS) Price Target to $72.00

General Mills (NYSE:GIS) had its price target lifted by JPMorgan Chase & Co. from $68.00 to $72.00 in a research note published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler lowered their price objective on shares of General Mills from $77.00 to $76.00 and set an overweight rating on the stock in a research note on Friday, December 15th. Wells Fargo & Company raised their price target on shares of General Mills from $65.00 to $70.00 and gave the stock an equal weight rating in a research note on Thursday. Evercore ISI cut their price objective on shares of General Mills from $75.00 to $72.00 and set an in-line rating on the stock in a report on Monday, December 11th. Royal Bank of Canada cut their price target on shares of General Mills from $74.00 to $72.00 and set a sector perform rating on the stock in a report on Thursday, December 21st. Finally, Mizuho raised their price target on shares of General Mills from $65.00 to $70.00 and gave the company a neutral rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $73.50.

General Mills Stock Up 0.5 %

Shares of General Mills stock opened at $69.10 on Thursday. The company has a market cap of $39.24 billion, a P/E ratio of 15.85, a PEG ratio of 2.43 and a beta of 0.15. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.36 and a current ratio of 0.66. General Mills has a one year low of $60.33 and a one year high of $90.89. The firm has a fifty day moving average of $64.78 and a two-hundred day moving average of $64.74.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. General Mills’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts forecast that General Mills will post 4.5 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Tuesday, April 9th. General Mills’s payout ratio is currently 54.13%.

Insider Transactions at General Mills

In other General Mills news, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction on Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the transaction, the insider now owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other General Mills news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the transaction, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,782 shares of company stock valued at $4,365,720. 0.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Mills

A number of hedge funds have recently added to or reduced their stakes in the business. Leo Wealth LLC acquired a new position in General Mills in the fourth quarter worth $652,000. ICA Group Wealth Management LLC bought a new stake in General Mills in the fourth quarter valued at $129,000. SageView Advisory Group LLC lifted its stake in General Mills by 24.0% in the fourth quarter. SageView Advisory Group LLC now owns 15,615 shares of the company’s stock valued at $1,020,000 after buying an additional 3,020 shares during the last quarter. Willner & Heller LLC bought a new stake in General Mills in the fourth quarter valued at $479,000. Finally, Fisher Asset Management LLC lifted its stake in General Mills by 0.9% in the fourth quarter. Fisher Asset Management LLC now owns 111,233 shares of the company’s stock valued at $7,246,000 after buying an additional 978 shares during the last quarter. Institutional investors and hedge funds own 75.31% of the company’s stock.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.