Wells Fargo & Company Cuts General Mills (NYSE:GIS) Price Target to $68.00

General Mills (NYSE:GIS) had its price objective cut by stock analysts at Wells Fargo & Company from $70.00 to $68.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.90% from the stock’s previous close.

GIS has been the topic of several other research reports. Stifel Nicolaus upped their target price on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. TD Cowen upped their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Citigroup upped their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.56.

General Mills Stock Down 0.6 %

GIS stock opened at $63.61 on Thursday. The business has a 50 day moving average of $66.47 and a 200 day moving average of $68.11. The firm has a market cap of $35.31 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. General Mills has a twelve month low of $61.47 and a twelve month high of $75.90. 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) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share 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 the consensus estimate of $5.14 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. On average, research analysts forecast that General Mills will post 4.5 EPS for the current fiscal year.

Insider Buying and Selling at General Mills

In other news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares in the company, valued at $9,571,314.96. This represents a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,230 shares of company stock valued at $4,547,822. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On General Mills

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIS. 1620 Investment Advisors Inc. purchased a new stake in shares of General Mills in the second quarter worth $47,000. &PARTNERS increased its stake in General Mills by 39.0% in the 2nd quarter. &PARTNERS now owns 23,070 shares of the company’s stock worth $1,459,000 after buying an additional 6,475 shares in the last quarter. Secure Asset Management LLC raised its holdings in General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the period. Premier Path Wealth Partners LLC lifted its position in shares of General Mills by 10.7% in the second quarter. Premier Path Wealth Partners LLC now owns 3,168 shares of the company’s stock valued at $200,000 after acquiring an additional 307 shares in the last quarter. Finally, Tower Bridge Advisors boosted its stake in shares of General Mills by 9.2% in the second quarter. Tower Bridge Advisors now owns 4,730 shares of the company’s stock worth $299,000 after acquiring an additional 400 shares during the period. 75.71% of the stock is 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.