General Mills (NYSE:GIS) Price Target Raised to $65.00

General Mills (NYSE:GIS) had its price objective boosted by Guggenheim from $58.00 to $65.00 in a report released on Wednesday morning, The Fly reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Citigroup lowered Biogen from a buy rating to a neutral rating and lowered their price objective for the stock from $470.00 to $230.00 in a research report on Thursday, March 21st. JPMorgan Chase & Co. lowered VESTAS WIND SYS/ADR from a neutral rating to an underweight rating in a research report on Thursday, March 21st. Credit Suisse Group set a $15.00 price objective on C&J Energy Services and gave the stock a hold rating in a research report on Thursday, March 21st. Evercore ISI initiated coverage on Mondelez International in a research report on Tuesday, June 11th. They issued an outperform rating and a $62.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on General Mills from $49.00 to $52.00 and gave the stock an equal weight rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $52.66.

General Mills stock opened at $53.44 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.37 and a debt-to-equity ratio of 1.58. General Mills has a 12 month low of $36.42 and a 12 month high of $54.74. The stock has a 50 day moving average of $52.53. The stock has a market cap of $32.17 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.27 and a beta of 0.77.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that General Mills will post 3.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Tuesday, July 9th. General Mills’s payout ratio is 60.87%.

Several hedge funds have recently made changes to their positions in the company. Fiera Capital Corp acquired a new stake in General Mills in the fourth quarter worth $293,000. Korea Investment CORP grew its holdings in General Mills by 528.4% in the fourth quarter. Korea Investment CORP now owns 120,831 shares of the company’s stock worth $4,705,000 after purchasing an additional 101,602 shares during the period. Dimensional Fund Advisors LP grew its holdings in General Mills by 21.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,471,138 shares of the company’s stock worth $96,224,000 after purchasing an additional 433,796 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in General Mills by 5,150.4% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,038 shares of the company’s stock worth $235,000 after purchasing an additional 5,923 shares during the period. Finally, Brown Advisory Inc. grew its holdings in General Mills by 81.4% in the fourth quarter. Brown Advisory Inc. now owns 76,107 shares of the company’s stock worth $2,964,000 after purchasing an additional 34,142 shares during the period. 69.77% of the stock is owned by institutional investors and hedge funds.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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