General Mills (NYSE:GIS) PT Raised to $84.00 at Piper Sandler

General Mills (NYSE:GIS) had its price objective boosted by equities researchers at Piper Sandler from $74.00 to $84.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 12.74% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Evercore ISI dropped their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Bank of America lifted their price objective on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. dropped their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, Stifel Nicolaus reduced their price target on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.73.

General Mills Price Performance

NYSE:GIS opened at $74.51 on Thursday. The stock has a 50 day moving average of $69.92 and a two-hundred day moving average of $68.51. General Mills has a 12 month low of $60.33 and a 12 month high of $75.90. The firm has a market cap of $41.59 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, analysts expect that General Mills will post 4.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Mills

A number of hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC lifted its stake in General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares during the period. Fortis Group Advisors LLC boosted its holdings in General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after acquiring an additional 229 shares during the period. RFP Financial Group LLC grew its position in General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co increased its stake in General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Hedge funds and other 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.