General Mills (NYSE:GIS) Price Target Lowered to $68.00 at Bank of America

General Mills (NYSE:GIS) had its price objective reduced by investment analysts 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 “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 14.80% from the company’s previous close.

GIS has been the topic of a number of other reports. Stifel Nicolaus dropped their price target on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Citigroup dropped their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Jefferies Financial Group increased their price target on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Finally, Barclays dropped their price target on General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average target price of $67.41.

General Mills Trading Down 2.0 %

Shares of NYSE GIS opened at $59.23 on Thursday. The stock’s 50 day moving average price is $60.04 and its two-hundred day moving average price is $65.42. General Mills has a 52-week low of $55.15 and a 52-week high of $75.90. The stock has a market capitalization of $32.65 billion, a P/E ratio of 12.88, a PEG ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, analysts anticipate that General Mills will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Mills

Several large investors have recently modified their holdings of the stock. RFG Advisory LLC boosted its stake in shares of General Mills by 2.6% during the 4th quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock worth $425,000 after acquiring an additional 172 shares in the last quarter. TCW Group Inc. grew its holdings in shares of General Mills by 0.8% during the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock valued at $1,471,000 after buying an additional 194 shares in the last quarter. Quadrant Private Wealth Management LLC raised its position in General Mills by 3.7% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company’s stock valued at $356,000 after buying an additional 197 shares during the period. Howard Capital Management Inc. lifted its stake in General Mills by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 3,916 shares of the company’s stock worth $250,000 after acquiring an additional 198 shares in the last quarter. Finally, LRI Investments LLC boosted its position in General Mills by 5.9% during the 3rd quarter. LRI Investments LLC now owns 3,593 shares of the company’s stock worth $265,000 after acquiring an additional 200 shares during the period. 75.71% of the stock is owned by 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.