General Mills (NYSE:GIS) Given New $70.00 Price Target at Bank of America

General Mills (NYSE:GIS) had its target price reduced by equities research analysts at Bank of America from $78.00 to $70.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 18.34% from the stock’s current price.

A number of other brokerages have also recently issued reports on GIS. Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Mizuho dropped their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. TD Cowen dropped their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Finally, Citigroup dropped their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.88.

General Mills Trading Up 2.0 %

NYSE GIS opened at $59.15 on Wednesday. The stock has a market capitalization of $32.61 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 3.71 and a beta of 0.10. The stock’s 50 day moving average price is $61.01 and its two-hundred day moving average price is $66.61. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills has a 52 week low of $55.15 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, analysts anticipate that General Mills will post 4.4 earnings per share for the current fiscal year.

Insider Buying and Selling at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’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 transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. lifted its position in shares of General Mills by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after buying an additional 148 shares during the last quarter. Ballentine Partners LLC raised its position in General Mills by 1.1% in the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after purchasing an additional 165 shares during the last quarter. RFG Advisory LLC raised its position in General Mills by 2.6% in the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock valued at $425,000 after purchasing an additional 172 shares during the last quarter. Planning Capital Management Corp raised its position in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares during the last quarter. Finally, TCW Group Inc. raised its position in General Mills by 0.8% in the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock valued at $1,471,000 after purchasing an additional 194 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

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.