General Mills (NYSE:GIS) Price Target Cut to $67.00 by Analysts at Citigroup

General Mills (NYSE:GIS) had its target price dropped by investment analysts at Citigroup from $71.00 to $67.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 5.33% from the stock’s previous close.

GIS has been the subject of several other reports. TD Cowen decreased their target price on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $80.00 in a report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Stifel Nicolaus decreased their price target on shares of General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays raised their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.56.

General Mills Trading Down 0.6 %

GIS opened at $63.61 on Thursday. The firm has a 50 day simple moving average of $66.47 and a 200 day simple moving average of $68.11. General Mills has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

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

Insider Transactions at General Mills

In related news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,230 shares of company stock valued at $4,547,822 over the last 90 days. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Mills

A number of institutional investors have recently added to or reduced their stakes in GIS. State Street Corp grew its position in shares of General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after acquiring an additional 2,867,678 shares during the period. American Century Companies Inc. increased its position in General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after buying an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. raised its stake in General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after buying an additional 930,271 shares during the period. International Assets Investment Management LLC lifted its position in shares of General Mills by 6,114.0% in the third quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock valued at $33,266,000 after buying an additional 443,202 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of General Mills by 6.1% during the 2nd 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 period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

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.