JPMorgan Chase & Co. Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $62.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 5.27% from the stock’s previous close.

Several other brokerages have also recently issued reports on GIS. TD Cowen lowered their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Mizuho dropped their price target on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Stifel Nicolaus decreased their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Barclays decreased their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Bank of America lowered their price objective on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $68.24.

General Mills Stock Down 3.0 %

Shares of GIS stock traded down $1.96 on Tuesday, reaching $63.34. 1,479,154 shares of the stock were exchanged, compared to its average volume of 4,907,877. General Mills has a twelve month low of $55.15 and a twelve month high of $75.90. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $34.91 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.94 and a beta of 0.06. The business’s 50 day moving average price is $60.37 and its 200 day moving average price is $65.93.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 EPS. As a group, sell-side analysts expect that General Mills will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills 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 owns 42,117 shares of the company’s stock, valued at $2,716,546.50. The trade was 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, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GIS. Endeavor Private Wealth Inc. bought a new position in General Mills in the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills in the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in General Mills during the 4th quarter valued at approximately $31,000. VSM Wealth Advisory LLC bought a new position in General Mills during the 4th quarter worth $32,000. Finally, Transce3nd LLC acquired a new stake in General Mills in the fourth quarter worth $32,000. 75.71% of the stock is currently owned by institutional investors.

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.