Deutsche Bank Aktiengesellschaft Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price objective cut by Deutsche Bank Aktiengesellschaft from $83.00 to $82.00 in a report issued on Wednesday, Marketbeat.com reports. They currently have a hold rating on the stock.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus raised their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Piper Sandler lifted their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and raised their price target for the company from $78.00 to $80.00 in a report on Friday, December 13th. Wells Fargo & Company cut their price target on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Finally, Citigroup lifted their price target on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $73.44.

General Mills Trading Down 0.2 %

Shares of NYSE:GIS traded down $0.11 during trading on Wednesday, reaching $63.80. The stock had a trading volume of 561,085 shares, compared to its average volume of 3,933,496. General Mills has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm’s fifty day moving average is $66.76 and its 200 day moving average is $68.17. The stock has a market cap of $35.42 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 3.41 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. As a group, equities analysts forecast that General Mills will post 4.5 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid 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 dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling

In other General Mills news, Director Maria Sastre sold 1,000 shares of the 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 sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Legal & General Group Plc boosted its position in General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after purchasing an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after buying an additional 148,235 shares in the last quarter. American Century Companies Inc. grew its stake in General Mills by 100.4% in the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after acquiring an additional 263,188 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

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.