JPMorgan Chase & Co. Lowers General Mills (NYSE:GIS) Price Target to $54.00

General Mills (NYSE:GIS - Get Free Report) had its target price reduced by research analysts at JPMorgan Chase & Co. from $60.00 to $54.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 7.23% from the company's current price.

Several other equities analysts have also issued reports on GIS. Citigroup decreased their target price on General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Mizuho decreased their price objective on shares of General Mills from $72.00 to $65.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Bank of America reduced their target price on General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Stifel Nicolaus decreased their target price on General Mills from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $65.69.

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General Mills Trading Down 0.7 %

GIS traded down $0.43 during mid-day trading on Thursday, reaching $58.21. The stock had a trading volume of 5,381,924 shares, compared to its average volume of 4,115,895. The firm's fifty day simple moving average is $59.97 and its two-hundred day simple moving average is $65.06. The stock has a market capitalization of $32.08 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills has a 52 week low of $55.15 and a 52 week high of $75.90. 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 (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the business posted $1.17 earnings per share. General Mills's revenue was down 5.1% compared to the same quarter last year. On average, equities analysts predict that General Mills will post 4.36 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at $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 available at this link. Insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On General Mills

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Endeavor Private Wealth Inc. bought a new position in shares of General Mills during the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Mills in the fourth quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Mills in the fourth quarter valued at $31,000. Transce3nd LLC acquired a new stake in shares of General Mills during the 4th quarter worth about $32,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of General Mills during the 4th quarter worth about $32,000. 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.