General Mills (NYSE:GIS) Price Target Cut to $78.00 by Analysts at Stifel Nicolaus

General Mills (NYSE:GIS) had its price target reduced by investment analysts at Stifel Nicolaus from $82.00 to $78.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 22.62% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their price target on shares of General Mills from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $78.00 to $80.00 in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $71.56.

General Mills Trading Down 0.6 %

Shares of NYSE GIS opened at $63.61 on Thursday. The firm has a 50 day moving average price of $66.47 and a two-hundred day moving average price of $68.11. The stock has a market cap of $35.31 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. General Mills has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts forecast that General Mills will post 4.5 EPS for the current year.

Insider Buying and Selling at General Mills

In other news, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maria Sastre sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,230 shares of company stock valued at $4,547,822. Company insiders own 0.26% of the company’s stock.

Institutional Trading of General Mills

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