General Mills (NYSE:GIS) Price Target Cut to $67.00

General Mills (NYSE:GIS) had its price objective lowered by Barclays from $72.00 to $67.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 5.91% from the company’s current price.

Several other research firms have also recently weighed in on GIS. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday. Stifel Nicolaus lowered their price objective on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America lowered their price objective on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price target on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Mizuho boosted their price target on shares of General Mills from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.44.

General Mills Price Performance

Shares of NYSE:GIS opened at $63.26 on Friday. The stock has a market cap of $35.31 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 3.03 and a beta of 0.12. General Mills has a 12 month low of $60.33 and a 12 month high of $77.63. The stock’s 50 day moving average price is $68.51 and its 200 day moving average price is $66.75. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.40.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion for 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 revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. Equities research analysts anticipate that General Mills will post 4.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC acquired a new position in General Mills in the fourth quarter worth about $27,000. Rise Advisors LLC raised its position in General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in General Mills in the fourth quarter worth about $28,000. Finally, RFP Financial Group LLC grew its stake in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. 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.