Bank of America Lowers General Mills (NYSE:GIS) Price Target to $68.00

General Mills (NYSE:GIS - Get Free Report) had its price objective dropped by research analysts at Bank of America from $70.00 to $68.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 16.83% from the stock's current price.

GIS has been the subject of a number of other reports. Stifel Nicolaus cut their price target on shares of General Mills from $72.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. TD Cowen cut their target price on shares of General Mills from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. Citigroup decreased their price target on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Piper Sandler dropped their price target on General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $65.69.

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General Mills Price Performance

Shares of NYSE GIS traded down $0.43 during mid-day trading on Thursday, reaching $58.21. 5,381,924 shares of the company traded hands, compared to its average volume of 4,115,895. The firm has a market cap of $32.08 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The stock has a fifty day simple moving average of $59.97 and a 200-day simple moving average of $65.06.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.04. The company had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. Equities research analysts anticipate that General Mills will post 4.36 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company's stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

Institutional Trading of General Mills

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC grew its position in General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock worth $304,000 after purchasing an additional 268 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the period. J2 Capital Management Inc acquired a new position in shares of General Mills in the fourth quarter valued at $547,000. Daiwa Securities Group Inc. raised its stake in shares of General Mills by 7.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company's stock valued at $4,652,000 after purchasing an additional 4,839 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in General Mills by 15.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company's stock worth $2,749,000 after purchasing an additional 5,853 shares during the period. 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.