Wells Fargo & Company Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price target decreased by equities research analysts at Wells Fargo & Company from $70.00 to $68.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 5.95% from the company’s current price.

A number of other analysts have also recently commented on GIS. Piper Sandler boosted their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. boosted their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday. Stifel Nicolaus increased their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Barclays lifted their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus price target of $73.44.

General Mills Stock Up 0.4 %

Shares of NYSE:GIS traded up $0.27 during trading on Thursday, hitting $64.18. The stock had a trading volume of 130,766 shares, compared to its average volume of 3,931,890. The company has a market capitalization of $35.63 billion, a PE ratio of 15.28, a PEG ratio of 3.41 and a beta of 0.10. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm’s fifty day moving average is $66.76 and its 200 day moving average is $68.17. General Mills has a 12 month low of $61.47 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. Analysts anticipate that General Mills will post 4.5 EPS for the current fiscal year.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GIS. Values First Advisors Inc. bought a new stake in General Mills during the third quarter worth approximately $27,000. First Foundation Advisors boosted its stake in shares of General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Planning Capital Management Corp grew its holdings in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares during the last quarter. Fairscale Capital LLC bought a new stake in General Mills in the second quarter worth about $42,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of General Mills during the third quarter valued at approximately $44,000. 75.71% of the stock is currently 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.