TD Cowen Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price target dropped by TD Cowen from $32.00 to $31.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential downside of 14.30% from the stock’s previous close.

GIS has been the topic of several other research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 target price on shares of General Mills in a report on Tuesday, June 2nd. Piper Sandler cut their target price 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. Wells Fargo & Company decreased their target price on General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. Barclays lowered their price target on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Finally, Royal Bank Of Canada dropped their price target on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $39.06.

General Mills Stock Up 2.2%

Shares of NYSE:GIS traded up $0.77 during trading hours on Friday, reaching $36.17. The stock had a trading volume of 4,903,188 shares, compared to its average volume of 9,240,887. General Mills has a 1 year low of $31.75 and a 1 year high of $54.18. The firm’s 50 day moving average is $34.09 and its 200-day moving average is $40.16. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 8.85 and a beta of -0.03. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56.

Insider Buying and Selling at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the business’s 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. The trade was a 11.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company’s stock.

Institutional Trading of General Mills

Several institutional investors have recently made changes to their positions in GIS. Norges Bank acquired a new stake in General Mills during the 4th quarter valued at approximately $361,552,000. Wellington Management Group LLP grew its position in General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock worth $347,201,000 after purchasing an additional 7,223,487 shares during the last quarter. AQR Capital Management LLC grew its holdings in General Mills by 366.1% in the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock worth $237,954,000 after buying an additional 4,019,319 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of General Mills during the second quarter valued at $84,862,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in General Mills by 61.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company’s stock valued at $192,589,000 after buying an additional 1,573,444 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Company Profile

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.