General Mills (NYSE:GIS) Given New $64.00 Price Target at Wells Fargo & Company

General Mills (NYSE:GIS) had its price objective lowered by stock analysts at Wells Fargo & Company from $68.00 to $64.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 3.56% from the company’s current price.

GIS has been the subject of several other research reports. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and upped their target price for the stock from $78.00 to $80.00 in a report on Friday, December 13th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Citigroup reduced their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $71.31.

General Mills Stock Performance

NYSE:GIS traded up $0.30 during mid-day trading on Tuesday, hitting $61.80. 534,759 shares of the company traded hands, compared to its average volume of 3,079,281. The stock’s fifty day moving average price is $65.14 and its 200-day moving average price is $67.88. 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 has a one year low of $61.34 and a one year high of $75.90. The firm has a market cap of $34.07 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 3.47 and a beta of 0.11.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. Research analysts anticipate that General Mills will post 4.5 earnings per share for the current fiscal year.

Insider Buying and Selling at General Mills

In other news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,624 shares of company stock worth $3,897,326 over the last quarter. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On General Mills

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

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.