Wells Fargo & Company Cuts General Mills (NYSE:GIS) Price Target to $64.00

General Mills (NYSE:GIS) had its price objective cut by Wells Fargo & Company from $68.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on GIS. TD Cowen decreased their target price on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock 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. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $80.00 in a research note on Friday, December 13th. Barclays decreased their price target on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Piper Sandler increased their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.31.

General Mills Stock Performance

Shares of GIS stock opened at $60.90 on Tuesday. The company has a fifty day moving average price of $64.71 and a two-hundred day moving average price of $67.74. General Mills has a one year low of $59.70 and a one year high of $75.90. The stock has a market cap 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. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. The business 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%. General Mills’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. As a group, equities analysts predict that General Mills will post 4.5 EPS for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

Insider Buying and Selling

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction dated 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 transaction, the chief accounting officer now 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 quarter, insiders have sold 56,624 shares of company stock worth $3,897,326. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caprock Group LLC boosted its position in 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 in the last quarter. Ballentine Partners LLC grew 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 worth $929,000 after acquiring an additional 464 shares during the last quarter. Quest Partners LLC increased its holdings in General Mills by 203.7% in the 2nd quarter. Quest Partners LLC now owns 11,864 shares of the company’s stock worth $751,000 after purchasing an additional 7,957 shares in the last quarter. First Foundation Advisors increased its holdings in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in General Mills by 4.0% in the second quarter. Ashton Thomas Private Wealth LLC now owns 9,135 shares of the company’s stock valued at $578,000 after purchasing an additional 352 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

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.