TD Cowen Cuts General Mills (NYSE:GIS) Price Target to $37.00

General Mills (NYSE:GIS) had its price objective reduced by TD Cowen from $45.00 to $37.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 target price on shares of General Mills in a report on Thursday, December 18th. Bank of America cut General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research report on Monday, February 23rd. Stifel Nicolaus reduced their price objective on General Mills from $50.00 to $44.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley decreased their target price on General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, February 18th. Finally, Mizuho set a $47.00 target price on shares of General Mills in a research note on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, General Mills has an average rating of “Reduce” and an average target price of $44.61.

General Mills Trading Down 1.2%

NYSE:GIS opened at $37.04 on Thursday. The company’s 50 day moving average price is $44.38 and its 200-day moving average price is $46.63. General Mills has a 52 week low of $37.01 and a 52 week high of $62.61. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 9.06 and a beta of -0.05.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.General Mills’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, equities research analysts forecast that General Mills will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Friday, April 10th. General Mills’s dividend payout ratio is currently 59.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vermillion & White Wealth Management Group LLC bought a new stake in shares of General Mills during the 3rd quarter valued at $25,000. Reflection Asset Management bought a new position in General Mills in the 4th quarter worth $25,000. Close Asset Management Ltd bought a new position in General Mills in the 3rd quarter worth $28,000. Nalls Sherbakoff Group LLC purchased a new position in General Mills during the fourth quarter valued at $26,000. Finally, Davis Capital Management purchased a new position in General Mills during the third quarter valued at $29,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Key General Mills News

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

• Positive Sentiment: Piper Sandler reaffirmed its buy/overweight stance on GIS (despite trimming its target earlier), signaling continued broker support for the turnaround thesis. Piper Sandler Reaffirms Their Buy Rating on General Mills (GIS)
• Positive Sentiment: RBC Capital reaffirmed its buy/outperform view on GIS, providing another vote of confidence from a large broker. RBC Capital Keeps Their Buy Rating on General Mills (GIS)
• Positive Sentiment: Diamond Hill Capital’s Mid-Cap strategy disclosed a new position in General Mills in Q4, indicating some institutional accumulation at these levels. Diamond Hill Mid Cap Strategy Initiated a Position in General Mills (GIS) in Q4
• Neutral Sentiment: Jefferies reaffirmed a hold rating, reflecting a wait-and-see view: management’s recovery plan is being acknowledged but not yet rewarded by all analysts. Jefferies Reaffirms Their Hold Rating on General Mills (GIS)
• Neutral Sentiment: Management highlighted product innovation (more protein/fiber SKUs like Cheerios Protein) and portfolio reshaping (Brazil unit sale) as recovery levers; these are strategic positives but will take time to materially reverse top-line/margin trends. General Mills Bets on Protein and Fiber to Win Back Consumers
• Negative Sentiment: Q3 results missed on EPS and showed an 8.4% YoY revenue decline; analysts flagged a tough consumer environment and lowered near-term forecasts. General Mills’ FQ3 miss highlights tough consumer environment — analysts
• Negative Sentiment: Several brokers slashed price targets and/or lowered ratings after the print: UBS cut its target to $35 and kept a Sell; JPMorgan, UBS, Goldman, TD Cowen and others trimmed targets or moved to underweight/neutral — putting fresh downside risk and pressuring sentiment. General Mills price target lowered to $35 from $40 at UBS
• Negative Sentiment: Investor commentary (including Jim Cramer) and post-earnings notes highlight that management’s messaging and near-term guidance weren’t convincing, amplifying the sell-side cuts and heavy trading. Jim Cramer on General Mills: “Management Tried to Turn Minuses Into Pluses, But the Crowd Wasn’t Buying It”

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.