General Mills (NYSE:GIS) PT Lowered to $63.00 at JPMorgan Chase & Co.

General Mills (NYSE:GISGet Free Report) had its target price cut by analysts at JPMorgan Chase & Co. from $70.00 to $63.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 1.79% from the company’s previous close.

GIS has been the topic of several other reports. Barclays boosted their target price on General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. Mizuho boosted their price target on General Mills from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Wells Fargo & Company boosted their price target on General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. HSBC boosted their price target on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.06.

Get Our Latest Stock Analysis on General Mills

General Mills Stock Down 0.0 %

Shares of GIS traded down $0.02 during trading hours on Thursday, hitting $64.15. The company had a trading volume of 926,538 shares, compared to its average volume of 4,108,237. The company has a market capitalization of $36.43 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 3.13 and a beta of 0.12. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. General Mills has a one year low of $60.33 and a one year high of $78.88. The company’s fifty day moving average price is $68.85 and its two-hundred day moving average price is $66.80.

General Mills (NYSE:GISGet Free Report) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $1.12 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that General Mills will post 4.5 earnings per share for the current fiscal year.

Insider Transactions at General Mills

In other news, insider Werner Lanette Shaffer sold 710 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares in the company, valued at $1,227,706.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.

Institutional Trading of General Mills

Several hedge funds have recently modified their holdings of the stock. Private Trust Co. NA grew its holdings in shares of General Mills by 1.4% during the first quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock worth $719,000 after buying an additional 140 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in General Mills by 0.8% in the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after purchasing an additional 145 shares in the last quarter. Traverso Chambers Private Wealth Management LLC boosted its stake in shares of General Mills by 1.0% during the 4th quarter. Traverso Chambers Private Wealth Management LLC now owns 16,156 shares of the company’s stock worth $1,052,000 after acquiring an additional 156 shares in the last quarter. Park Place Capital Corp boosted its stake in shares of General Mills by 40.6% during the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after acquiring an additional 156 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. boosted its stake in shares of General Mills by 2.9% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 5,866 shares of the company’s stock worth $382,000 after acquiring an additional 164 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Company Profile

(Get Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

Further Reading

Analyst Recommendations for General Mills (NYSE:GIS)

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