Bank of America Cuts General Mills (NYSE:GIS) Price Target to $70.00

General Mills (NYSE:GIS) had its price target reduced by Bank of America from $78.00 to $70.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 21.69% from the company’s current price.

Several other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Barclays decreased their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Citigroup lowered their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. TD Cowen reduced their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Finally, Stifel Nicolaus decreased their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.88.

General Mills Trading Down 2.2 %

GIS opened at $57.53 on Wednesday. The stock has a market capitalization of $31.71 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 3.79 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills has a twelve month low of $55.15 and a twelve month high of $75.90. The company has a 50-day simple moving average of $61.30 and a 200 day simple moving average of $66.72.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The company 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 13.08% and a return on equity of 27.55%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. Analysts predict that General Mills will post 4.4 EPS for the current fiscal year.

Insider Buying and Selling

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Mills

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Endeavor Private Wealth Inc. acquired a new stake in General Mills during the 4th quarter valued at approximately $26,000. Values First Advisors Inc. bought a new stake in shares of General Mills in the 3rd quarter valued at $27,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills in the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills during the fourth quarter worth $31,000. Finally, VSM Wealth Advisory LLC bought a new position in General Mills during the fourth quarter worth $32,000. 75.71% of the stock is owned by institutional investors and hedge funds.

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.