General Mills (NYSE:GIS) PT Lowered to $62.00

General Mills (NYSE:GIS) had its price target decreased by equities researchers at Mizuho from $70.00 to $62.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price objective would suggest a potential downside of 1.71% from the stock’s current price.

Several other brokerages also recently commented on GIS. JPMorgan Chase & Co. lowered their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Citigroup reduced their price target on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Evercore ISI reduced their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Barclays reduced their price target on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Finally, Sanford C. Bernstein upgraded shares of General Mills from an “underperform” rating to a “market perform” rating and upped their price target for the company from $62.00 to $70.00 in a report on Wednesday, May 15th. Two research 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 presently has an average rating of “Hold” and a consensus target price of $70.00.

General Mills Stock Down 0.1 %

Shares of NYSE:GIS opened at $63.08 on Wednesday. General Mills has a 52 week low of $60.33 and a 52 week high of $77.63. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The company has a market capitalization of $35.21 billion, a PE ratio of 14.64, a PEG ratio of 3.56 and a beta of 0.09. The company has a 50 day moving average price of $68.03 and a two-hundred day moving average price of $66.68.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts forecast that General Mills will post 4.5 earnings per share for the current year.

Insider Buying and Selling at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares in the company, valued at $1,227,706.29. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On General Mills

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after purchasing an additional 8,444,312 shares during the period. Capital Research Global Investors raised its position in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after purchasing an additional 2,488,341 shares during the period. Morgan Stanley raised its position in shares of General Mills by 0.3% in the third quarter. Morgan Stanley now owns 8,242,274 shares of the company’s stock valued at $527,423,000 after purchasing an additional 23,400 shares during the period. Capital World Investors raised its position in shares of General Mills by 7.6% in the fourth quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock valued at $460,858,000 after purchasing an additional 501,717 shares during the period. Finally, Norges Bank bought a new position in shares of General Mills in the fourth quarter valued at about $377,205,000. 75.71% of the stock is owned by 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.