General Mills (NYSE:GIS) Price Target Cut to $72.00

General Mills (NYSE:GIS) had its target price lowered by Evercore ISI from $76.00 to $72.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price target suggests a potential upside of 13.82% from the stock’s current price.

Several other brokerages have also commented on GIS. TD Cowen raised their price objective on General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday. Citigroup lowered their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday. Mizuho lifted their price target on General Mills from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus lowered their price target on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.44.

General Mills Stock Performance

Shares of GIS stock opened at $63.26 on Friday. The stock has a fifty day moving average of $68.51 and a 200 day moving average of $66.75. General Mills has a 52 week low of $60.33 and a 52 week high of $77.63. The firm has a market capitalization of $35.31 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 3.03 and a beta of 0.12. The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. As a group, research analysts expect that General Mills will post 4.52 earnings per share for the current year.

Insider Buying and Selling at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC purchased a new position in shares of General Mills during the 4th quarter valued at about $27,000. Rise Advisors LLC lifted its position in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after buying an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 336 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of General Mills during the 4th quarter valued at about $28,000. Finally, RFP Financial Group LLC lifted its holdings in General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.