Mizuho Cuts General Mills (NYSE:GIS) Price Target to $62.00

General Mills (NYSE:GIS) had its price objective reduced by equities researchers at Mizuho from $70.00 to $62.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential downside of 1.71% from the stock’s current price.

GIS has been the topic of a number of other research reports. Evercore ISI dropped their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. TD Cowen upped their price objective on shares of General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. HSBC upped their price objective on shares of General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday, June 27th. Finally, 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 report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.00.

General Mills Stock Down 0.1 %

General Mills stock opened at $63.08 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. General Mills has a 12-month low of $60.33 and a 12-month high of $77.63. The firm’s fifty day moving average is $68.03 and its 200 day moving average is $66.68. The company has a market capitalization of $35.21 billion, a PE ratio of 14.64, a PEG ratio of 3.56 and a beta of 0.09.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company earned $1.12 EPS. General Mills’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills will post 4.5 EPS for the current fiscal year.

Insider Activity at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of the 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 in the company, valued at $1,227,706.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Mills

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MeadowBrook Investment Advisors LLC bought a new position in General Mills during the fourth quarter worth about $27,000. Rise Advisors LLC boosted its position in General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares during the period. Capital Advisors Ltd. LLC boosted its position in General Mills by 409.8% during 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 during the period. Bruce G. Allen Investments LLC bought a new position in General Mills during the fourth quarter worth about $28,000. Finally, RFP Financial Group LLC boosted its position 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 purchasing an additional 173 shares during the period. Institutional investors own 75.71% of the company’s stock.

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.