JPMorgan Chase & Co. Issues Pessimistic Forecast for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price objective lowered by JPMorgan Chase & Co. from $60.00 to $54.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 8.14% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Bank of America cut their price objective on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus cut their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Barclays cut their price objective on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday. TD Cowen cut their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Jefferies Financial Group boosted their price objective on shares of General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus target price of $66.53.

General Mills Trading Up 0.8 %

Shares of GIS opened at $58.78 on Thursday. The company’s fifty day moving average is $60.00 and its 200 day moving average is $65.28. General Mills has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The stock has a market capitalization of $32.40 billion, a PE ratio of 12.78, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92.

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

Insider Buying and Selling

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total value 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 represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Institutional Trading of General Mills

A number of hedge funds have recently added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills during the fourth quarter valued at about $26,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Mills during the fourth quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Mills during the fourth quarter valued at about $31,000. Transce3nd LLC purchased a new stake in shares of General Mills during the fourth quarter valued at about $32,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of General Mills during the fourth quarter valued at about $32,000. 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.