General Mills (NYSE:GIS) Given New $65.00 Price Target at Barclays

General Mills (NYSE:GIS) had its target price cut by equities researchers at Barclays from $68.00 to $65.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 6.55% from the stock’s current price.

A number of other research firms have also commented on GIS. Stifel Nicolaus reduced their price target on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Citigroup cut their target price on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday. Bank of America cut their target price on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, TD Cowen cut their target price on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.53.

General Mills Trading Up 2.4 %

NYSE GIS opened at $61.01 on Tuesday. The business’s 50-day moving average price is $60.09 and its two-hundred day moving average price is $65.55. General Mills has a 12 month low of $55.15 and a 12 month high of $75.90. The firm has a market capitalization of $33.63 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that General Mills will post 4.36 EPS for the current year.

Insider Transactions at General Mills

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

Institutional Trading of General Mills

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its holdings in General Mills by 31.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 217,729 shares of the company’s stock valued at $13,885,000 after purchasing an additional 52,262 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in General Mills by 2.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 212,715 shares of the company’s stock valued at $13,565,000 after purchasing an additional 5,070 shares during the period. Aegis Wealth Management LLC bought a new position in General Mills during the fourth quarter valued at $271,000. Probity Advisors Inc. boosted its holdings in shares of General Mills by 8.9% in the fourth quarter. Probity Advisors Inc. now owns 14,004 shares of the company’s stock worth $893,000 after acquiring an additional 1,144 shares during the period. Finally, Siemens Fonds Invest GmbH boosted its holdings in shares of General Mills by 8.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 27,756 shares of the company’s stock worth $1,759,000 after acquiring an additional 2,123 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

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.