Wells Fargo & Company Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS - Get Free Report) had its price target decreased by investment analysts at Wells Fargo & Company from $68.00 to $64.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 5.12% from the company's previous close.

GIS has been the topic of a number of other reports. Piper Sandler raised their price target on shares of 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 objective on shares of General Mills in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on General Mills from $63.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lowered their price target on General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Finally, Barclays reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $71.31.

General Mills Stock Performance

General Mills stock traded down $0.62 during mid-day trading on Tuesday, hitting $60.88. 4,046,729 shares of the company's stock traded hands, compared to its average volume of 4,000,206. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The firm has a 50 day simple moving average of $65.14 and a two-hundred day simple moving average of $67.88. General Mills has a fifty-two week low of $60.82 and a fifty-two week high of $75.90. The stock has a market cap of $33.56 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 3.47 and a beta of 0.11.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the company posted $1.25 EPS. General Mills's quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that General Mills will post 4.5 EPS for the current fiscal year.

Insider Activity at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated 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 sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 35.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,624 shares of company stock valued at $3,897,326. 0.26% of the stock is owned by company insiders.

Institutional Trading of General Mills

A number of large investors have recently added to or reduced their stakes in GIS. Janney Montgomery Scott LLC raised its holdings in shares of General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company's stock worth $17,565,000 after purchasing an additional 43,086 shares during the period. JPMorgan Chase & Co. increased its stake in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock worth $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of General Mills by 129.9% during the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company's stock worth $13,649,000 after acquiring an additional 104,436 shares in the last quarter. Ellsworth Advisors LLC lifted its holdings in General Mills by 105.8% during the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company's stock worth $10,697,000 after purchasing an additional 74,456 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in General Mills by 6.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,157,232 shares of the company's stock worth $73,206,000 after purchasing an additional 69,902 shares during the period. Hedge funds and other institutional investors own 75.71% of the company's stock.

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.