General Mills (NYSE:GIS) Price Target Increased to $75.00 by Analysts at Wells Fargo & Company

General Mills (NYSE:GIS) had its target price lifted by Wells Fargo & Company from $67.00 to $75.00 in a report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on GIS. Bank of America upped their price objective on General Mills from $68.00 to $75.00 and gave the stock a neutral rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of General Mills from $70.00 to $63.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Stifel Nicolaus lowered their target price on General Mills from $77.00 to $70.00 and set a buy rating for the company in a research note on Thursday, June 27th. Mizuho cut their target price on shares of General Mills from $70.00 to $62.00 and set a neutral rating on the stock in a report on Wednesday, July 3rd. Finally, Evercore ISI lowered their price target on shares of General Mills from $76.00 to $72.00 and set an in-line rating for the company in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $70.07.

General Mills Trading Up 1.0 %

Shares of General Mills stock opened at $73.71 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. General Mills has a 1 year low of $60.33 and a 1 year high of $75.90. The firm has a market cap of $41.03 billion, a PE ratio of 17.10, a PEG ratio of 3.86 and a beta of 0.10. The company has a 50 day simple moving average of $68.73 and a two-hundred day simple moving average of $68.15.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the company posted $1.12 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts expect that General Mills will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.60 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s dividend payout ratio is presently 55.68%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Private Trust Co. NA lifted its position in shares of General Mills by 1.4% during the 1st quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock valued at $719,000 after buying an additional 140 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of General Mills by 0.8% in the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after purchasing an additional 145 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after purchasing an additional 151 shares during the period. Park Place Capital Corp lifted its stake in shares of General Mills by 40.6% during the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after buying an additional 156 shares in the last quarter. Finally, Secure Asset Management LLC boosted its holdings in General Mills by 5.0% in the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the period. Institutional investors own 75.71% 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 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.