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

General Mills (NYSE:GIS) had its target price cut by Wells Fargo & Company from $68.00 to $64.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 5.09% from the company’s previous close.

Other analysts have also issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. TD Cowen decreased their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Piper Sandler lifted their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Barclays cut their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.31.

General Mills Stock Up 0.0 %

Shares of GIS opened at $60.90 on Tuesday. The company has a 50-day simple moving average of $64.85 and a 200-day simple moving average of $67.79. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The firm has a market capitalization of $33.57 billion, a P/E ratio of 14.50, a P/E/G ratio of 3.47 and a beta of 0.11. General Mills has a 52 week low of $59.70 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. On average, equities research analysts expect that General Mills will post 4.5 earnings per share for the current year.

Insider Transactions at General Mills

In related news, Director Maria Sastre sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This represents a 35.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,624 shares of company stock valued at $3,897,326. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Mills

A number of institutional investors have recently added to or reduced their stakes in the stock. Caprock Group LLC increased its stake in shares of General Mills by 101.8% in the second quarter. Caprock Group LLC now owns 27,036 shares of the company’s stock valued at $1,710,000 after buying an additional 13,640 shares during the period. Ballentine Partners LLC increased its position in General Mills by 3.3% during the 2nd quarter. Ballentine Partners LLC now owns 14,689 shares of the company’s stock valued at $929,000 after purchasing an additional 464 shares during the period. Quest Partners LLC boosted its stake in shares of General Mills by 203.7% in the 2nd quarter. Quest Partners LLC now owns 11,864 shares of the company’s stock valued at $751,000 after purchasing an additional 7,957 shares during the last quarter. First Foundation Advisors boosted its position in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in General Mills by 4.0% during the second quarter. Ashton Thomas Private Wealth LLC now owns 9,135 shares of the company’s stock worth $578,000 after purchasing an additional 352 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

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.