General Mills (NYSE:GIS) Given New $62.00 Price Target at Mizuho

General Mills (NYSE:GIS) had its target price dropped by stock analysts at Mizuho from $70.00 to $62.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price suggests a potential downside of 1.71% from the company’s previous close.

A number of other equities research analysts have also weighed in on GIS. Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Citigroup reduced their target price on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. TD Cowen lifted their price objective on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Stifel Nicolaus lowered their target price on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Finally, Barclays lowered their price objective on General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $70.00.

General Mills Stock Down 0.1 %

Shares of GIS stock traded down $0.09 during trading hours on Wednesday, reaching $63.08. The company had a trading volume of 2,520,281 shares, compared to its average volume of 4,195,418. The business has a fifty day simple moving average of $68.20 and a 200-day simple moving average of $66.70. The company has a market cap of $35.21 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 3.57 and a beta of 0.09. General Mills has a 12 month low of $60.33 and a 12 month high of $77.63. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. On average, research analysts expect that General Mills will post 4.5 earnings per share for the current fiscal year.

Insider Activity at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $70.57, for a total value of $50,104.70. Following the sale, the insider now directly owns 17,397 shares in the company, valued at approximately $1,227,706.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Mills

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after purchasing an additional 8,444,312 shares during the last quarter. Norges Bank bought a new position in shares of General Mills in the fourth quarter valued at $377,205,000. Capital Research Global Investors grew its stake in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after buying an additional 2,488,341 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in General Mills by 106.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after purchasing an additional 1,778,345 shares during the period. Finally, American Century Companies Inc. boosted its position in General Mills by 257.7% during the third quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock worth $67,954,000 after purchasing an additional 765,070 shares during the period. Institutional investors and hedge funds 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.