Brokerages Set General Mills, Inc. (NYSE:GIS) PT at $42.44

Shares of General Mills, Inc. (NYSE:GIS) have been given an average recommendation of “Reduce” by the twenty-one ratings firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $41.7778.

A number of equities analysts have weighed in on the company. Piper Sandler lowered their price target on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft lowered their price target on General Mills from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. JPMorgan Chase & Co. lowered their price target on General Mills from $42.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, March 19th. Evercore set a $45.00 price target on General Mills in a research report on Wednesday, February 18th. Finally, TD Cowen reduced their price objective on General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a report on Thursday, March 19th.

Insider Buying and Selling

In other news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Mills

A number of large investors have recently added to or reduced their stakes in the stock. Retirement Planning Co of New England Inc. grew its position in General Mills by 4.2% during the third quarter. Retirement Planning Co of New England Inc. now owns 5,416 shares of the company’s stock worth $273,000 after buying an additional 219 shares in the last quarter. Smith Moore & CO. grew its position in General Mills by 2.6% during the third quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock worth $443,000 after buying an additional 225 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC grew its position in General Mills by 1.9% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock worth $565,000 after buying an additional 225 shares in the last quarter. Allegheny Financial Group raised its position in General Mills by 4.8% during the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock valued at $228,000 after purchasing an additional 226 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its stake in General Mills by 0.7% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock worth $1,702,000 after purchasing an additional 226 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE GIS opened at $33.63 on Thursday. The business’s 50 day moving average price is $35.14 and its two-hundred day moving average price is $41.85. The company has a market cap of $17.95 billion, a PE ratio of 8.22 and a beta of -0.03. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. General Mills has a twelve month low of $32.64 and a twelve month high of $55.19.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.General Mills’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. On average, analysts predict that General Mills will post 3.43 EPS for the current year.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.