General Mills (NYSE:GIS) Price Target Cut to $68.00

General Mills (NYSE:GIS) had its price objective lowered by equities researchers at Bank of America from $70.00 to $68.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 7.49% from the stock’s previous close.

A number of other analysts also recently commented on the company. Barclays increased their price target on General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, March 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday. HSBC increased their price target on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Mizuho increased their price target on General Mills from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Finally, TD Cowen raised their target price on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.44.

General Mills Stock Down 0.7 %

GIS stock opened at $63.26 on Thursday. General Mills has a twelve month low of $60.33 and a twelve month high of $77.63. The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average is $68.51 and its 200-day moving average is $66.75. The firm has a market capitalization of $35.93 billion, a PE ratio of 14.68, a P/E/G ratio of 3.05 and a beta of 0.12.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the company earned $1.12 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts expect that General Mills will post 4.54 EPS for the current fiscal year.

Insider Activity at General Mills

In other news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares in the company, valued at approximately $1,227,706.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Mills

Hedge funds and other institutional investors have recently modified their holdings of the company. Operose Advisors LLC boosted its holdings in shares of General Mills by 214.1% in the 3rd quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after purchasing an additional 274 shares in the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Mills in the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of General Mills in the 4th quarter valued at about $28,000. Rise Advisors LLC lifted its stake in shares of General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after acquiring an additional 273 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of General Mills by 409.8% in 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 last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.