General Mills (NYSE:GIS) Price Target Lowered to $58.00 at Citigroup

General Mills (NYSE:GIS) had its target price decreased by investment analysts at Citigroup from $60.00 to $58.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential downside of 2.81% from the company’s current price.

A number of other research firms have also recently commented on GIS. Barclays cut their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped 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, December 18th. Piper Sandler dropped their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price target on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.71.

General Mills Stock Down 0.3 %

NYSE GIS traded down $0.17 during trading on Friday, reaching $59.68. 2,726,671 shares of the company’s stock were exchanged, compared to its average volume of 3,955,534. The stock has a market cap of $32.90 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The company has a 50 day moving average price of $60.19 and a two-hundred day moving average price of $65.78. General Mills has a 1 year low of $55.15 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly 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 company had revenue of $5.24 billion during 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%. General Mills’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. On average, equities research analysts anticipate that General Mills will post 4.36 EPS for the current fiscal year.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in General Mills by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after purchasing an additional 1,868,508 shares during the period. State Street Corp boosted its position in General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after acquiring an additional 2,867,678 shares during the period. Geode Capital Management LLC boosted its position in General Mills by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock worth $923,907,000 after acquiring an additional 136,895 shares during the period. Ameriprise Financial Inc. boosted its position in General Mills by 34.5% during the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after acquiring an additional 2,341,137 shares during the period. Finally, Northern Trust Corp boosted its position in General Mills by 18.4% during the 4th quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock worth $514,101,000 after acquiring an additional 1,253,483 shares during the period. 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.