TD Cowen Lowers General Mills (NYSE:GIS) Price Target to $64.00

General Mills (NYSE:GIS) had its price target reduced by investment analysts at TD Cowen from $75.00 to $64.00 in a report released on Thursday, MarketBeat reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential upside of 0.61% from the stock’s current price.

Several other research firms have also weighed in on GIS. Barclays lifted their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. boosted their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Citigroup increased their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their price target on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price target on General Mills from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.56.

General Mills Stock Performance

General Mills stock opened at $63.61 on Thursday. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. General Mills has a 12 month low of $61.47 and a 12 month high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The stock’s 50-day moving average is $66.47 and its 200-day moving average is $68.11.

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

Insider Activity

In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 35.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,230 shares of company stock worth $4,547,822. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Mills

A number of hedge funds have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors boosted its holdings in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after buying an additional 10,765 shares during the period. Janney Montgomery Scott LLC lifted its holdings in General Mills by 22.1% in the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock worth $17,565,000 after acquiring an additional 43,086 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after acquiring an additional 104,436 shares during the period. Ellsworth Advisors LLC raised its position in shares of General Mills by 105.8% during the 3rd quarter. Ellsworth Advisors LLC now owns 144,851 shares of the company’s stock worth $10,697,000 after purchasing an additional 74,456 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of General Mills by 6.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,157,232 shares of the company’s stock worth $73,206,000 after purchasing an additional 69,902 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

About General Mills

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.