Deutsche Bank Aktiengesellschaft Cuts General Mills (NYSE:GIS) Price Target to $82.00

General Mills (NYSE:GIS - Free Report) had its target price cut by Deutsche Bank Aktiengesellschaft from $83.00 to $82.00 in a research note published on Wednesday.

GIS has been the topic of a number of other reports. Citigroup boosted their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, September 19th. Bank of America raised General Mills from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $78.00 to $80.00 in a report on Friday, December 13th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $73.56.

General Mills Stock Down 3.1 %

NYSE GIS traded down $2.02 on Wednesday, hitting $63.91. The stock had a trading volume of 13,262,543 shares, compared to its average volume of 3,947,887. The business's fifty day moving average price is $66.76 and its 200 day moving average price is $68.17. The stock has a market cap of $35.48 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills has a 52-week low of $61.47 and a 52-week high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.14 billion. During the same quarter last year, the firm earned $1.25 EPS. The business's quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that General Mills will post 4.5 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, January 10th. General Mills's payout ratio is 57.14%.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company's stock, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Sastre sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,555 shares of company stock worth $4,721,336 over the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of General Mills

Hedge funds and other institutional investors have recently modified their holdings of the stock. Values First Advisors Inc. acquired a new stake in General Mills during the third quarter worth about $27,000. First Foundation Advisors grew its stake in shares of General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company's stock valued at $32,000 after buying an additional 400 shares during the period. Planning Capital Management Corp increased its holdings in shares of General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company's stock worth $37,000 after buying an additional 193 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of General Mills during the 2nd quarter valued at approximately $42,000. Finally, Catalyst Capital Advisors LLC acquired a new position in General Mills in the third quarter valued at approximately $44,000. 75.71% of the stock is owned by institutional investors and hedge funds.

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.