General Mills' (GIS) Sector Perform Rating Reaffirmed at Royal Bank of Canada

General Mills (NYSE:GIS - Get Free Report)'s stock had its "sector perform" rating restated by investment analysts at Royal Bank of Canada in a report released on Thursday,Benzinga reports. They presently have a $70.00 target price on the stock. Royal Bank of Canada's price objective would suggest a potential upside of 9.36% from the company's previous close.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company dropped their target price on shares of General Mills from $70.00 to $68.00 and set an "equal weight" rating for the company in a report on Thursday. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, September 19th. Stifel Nicolaus boosted their target price on General Mills from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a research note on Wednesday. Finally, TD Cowen reduced their price objective on shares of General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, General Mills presently has an average rating of "Hold" and an average target price of $71.94.

General Mills Trading Up 0.2 %

Shares of NYSE GIS traded up $0.10 during midday trading on Thursday, reaching $64.01. The company had a trading volume of 6,137,969 shares, compared to its average volume of 3,956,827. The stock has a market cap of $35.54 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. General Mills has a one year low of $61.47 and a one year high of $75.90. The firm's fifty day moving average price is $66.76 and its 200-day moving average price is $68.17. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

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

Insiders Place Their Bets

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maria Sastre sold 1,000 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares of the company's stock, valued at $1,465,007.58. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Mills

Several large investors have recently bought and sold shares of the business. Mesirow Financial Investment Management Inc. grew its holdings in shares of General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company's stock worth $999,000 after acquiring an additional 148 shares during the period. Deseret Mutual Benefit Administrators boosted its position in General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company's stock worth $206,000 after purchasing an additional 151 shares during the last quarter. Secure Asset Management LLC grew its stake in shares of General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company's stock valued at $209,000 after purchasing an additional 157 shares during the period. LCM Capital Management Inc increased its position in shares of General Mills by 1.9% during the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company's stock valued at $539,000 after purchasing an additional 157 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of General Mills by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company's stock worth $1,097,000 after purchasing an additional 165 shares during the period. 75.71% 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 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.