General Mills (NYSE:GIS) Price Target Raised to $39.00 at Bank of America

General Mills (NYSE:GIS) had its price target raised by equities researchers at Bank of America from $36.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 3.70% from the company’s previous close.

A number of other brokerages also recently issued reports on GIS. JPMorgan Chase & Co. dropped their price target on shares of General Mills from $36.00 to $31.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 3rd. Piper Sandler decreased their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Mizuho lowered their target price on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Stifel Nicolaus dropped their target price on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada cut their price target on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, General Mills currently has an average rating of “Reduce” and a consensus target price of $38.78.

General Mills Trading Up 8.1%

NYSE GIS opened at $37.61 on Thursday. The firm has a market capitalization of $20.07 billion, a PE ratio of 9.20 and a beta of -0.03. The business’s 50-day moving average price is $34.18 and its two-hundred day moving average price is $39.88. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. General Mills has a 12 month low of $31.75 and a 12 month high of $54.18.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, analysts expect that General Mills will post 3.42 EPS for the current year.

Insider Transactions at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On General Mills

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in General Mills in the 2nd quarter valued at $9,188,000. Bank of Nova Scotia increased its stake in General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after purchasing an additional 2,552 shares in the last quarter. WINTON GROUP Ltd raised its holdings in General Mills by 112.6% during the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after buying an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after buying an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its stake in shares of General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after buying an additional 15,041 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills News Summary

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: General Mills beat Wall Street estimates for both earnings and revenue, with adjusted EPS of $0.95 versus $0.80 expected and sales of $4.61 billion versus $4.59 billion expected, signaling resilient demand in packaged foods. Reuters: General Mills beats quarterly estimates on steady staples demand, higher prices
• Positive Sentiment: Management announced a plan to generate about $3 billion in cost savings, which investors view as a way to protect margins and offset inflation and softer consumer spending. Article: Why General Mills Stock Jumped Today
• Positive Sentiment: The company also maintained its quarterly dividend, reinforcing its appeal as a defensive income stock while earnings improve. Article: General Mills (GIS) Stock Climbs on Dividend Stability and $3B Cost Reduction Plan
• Neutral Sentiment: Conference call commentary emphasized brand investment, innovation, protein-focused products, and pet food as long-term growth drivers, but also highlighted ongoing pressure from inflation and changing consumer behavior. TipRanks: General Mills Earnings Call Balances Progress And Pressure
• Negative Sentiment: Despite the beat, fiscal 2027 EPS guidance of $3.00 to $3.20 came in below the Street’s roughly $3.13 estimate, which could limit upside if investors focus on slower forward growth. Article: General Mills tops quarterly expectations despite cautious FY2027 outlook

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.