Barclays Cuts General Mills (NYSE:GIS) Price Target to $68.00

General Mills (NYSE:GIS) had its price target cut by analysts at Barclays from $74.00 to $68.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 6.23% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. TD Cowen reduced their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their price target on shares of General Mills from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.56.

General Mills Stock Performance

NYSE:GIS opened at $64.01 on Friday. The firm has a market capitalization of $35.54 billion, a P/E ratio of 15.24, a P/E/G ratio of 3.41 and a beta of 0.10. General Mills has a twelve month low of $61.47 and a twelve month high of $75.90. The company has a fifty day moving average of $66.62 and a 200-day moving average of $68.14. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

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

Insider Transactions at General Mills

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

Hedge Funds Weigh In On General Mills

Institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the period. American Century Companies Inc. lifted its holdings in General Mills by 100.4% in the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after purchasing an additional 2,368,563 shares in the last quarter. Wulff Hansen & CO. boosted its stake in General Mills by 6,140.4% in the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares during the period. International Assets Investment Management LLC boosted its position in shares of General Mills by 6,114.0% during the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after acquiring an additional 443,202 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 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.