General Mills (NYSE:GIS) Price Target Cut to $70.00 by Analysts at Bank of America

General Mills (NYSE:GIS - Get Free Report) had its target price decreased by equities research analysts at Bank of America from $78.00 to $70.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price objective suggests a potential upside of 14.73% from the company's current price.

GIS has been the subject of a number of other reports. Citigroup reduced their target price on shares of General Mills from $71.00 to $67.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. Barclays reduced their target price on shares of General Mills from $74.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. TD Cowen reduced their target price 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 reduced their target price on shares of General Mills from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, General Mills currently has a consensus rating of "Hold" and an average price target of $69.88.

General Mills Price Performance

Shares of NYSE GIS traded up $1.83 during mid-day trading on Wednesday, reaching $61.02. The company's stock had a trading volume of 5,107,114 shares, compared to its average volume of 4,609,214. The stock has a 50-day moving average of $61.01 and a two-hundred day moving average of $66.61. The stock has a market capitalization of $33.63 billion, a P/E ratio of 13.26, a P/E/G ratio of 3.76 and a beta of 0.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills has a 1-year low of $55.15 and a 1-year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. On average, equities research analysts anticipate that General Mills will post 4.38 EPS for the current fiscal year.

Insider Activity

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. grew its holdings in shares of General Mills by 1.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company's stock valued at $999,000 after purchasing an additional 148 shares in the last quarter. Ballentine Partners LLC grew its holdings in General Mills by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company's stock worth $1,097,000 after acquiring an additional 165 shares in the last quarter. RFG Advisory LLC grew its holdings in General Mills by 2.6% during the 4th quarter. RFG Advisory LLC now owns 6,668 shares of the company's stock worth $425,000 after acquiring an additional 172 shares in the last quarter. 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 worth $37,000 after acquiring an additional 193 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in General Mills by 0.8% during the 4th quarter. TCW Group Inc. now owns 23,061 shares of the company's stock worth $1,471,000 after acquiring an additional 194 shares in the last quarter. Institutional investors and hedge funds 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.