Barclays Issues Pessimistic Forecast for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price target cut by analysts at Barclays from $68.00 to $65.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 9.74% from the company’s previous close.

Several other research analysts also recently commented on the stock. Stifel Nicolaus lowered their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their price objective on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Monday. Finally, Mizuho lowered their price target 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. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.53.

General Mills Stock Down 2.0 %

NYSE GIS opened at $59.23 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills has a 1-year low of $55.15 and a 1-year high of $75.90. The company has a 50 day moving average of $60.04 and a 200-day moving average of $65.42. The company has a market cap of $32.65 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities research analysts expect that General Mills will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Institutional Trading of General Mills

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after purchasing an additional 1,868,508 shares during the period. State Street Corp raised its holdings in shares of General Mills by 9.4% during the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares during the period. Geode Capital Management LLC raised its holdings in shares of General Mills by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock valued at $923,907,000 after purchasing an additional 136,895 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of General Mills by 34.5% during the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after purchasing an additional 2,341,137 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of General Mills by 18.4% during the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock valued at $514,101,000 after purchasing an additional 1,253,483 shares during the period. 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.