Mizuho Lowers General Mills (NYSE:GIS) Price Target to $60.00

General Mills (NYSE:GIS) had its price objective cut by investment analysts at Mizuho from $62.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price points to a potential upside of 2.07% from the company’s previous close.

Several other equities research analysts have also recently weighed in on GIS. Barclays decreased their target price on General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday. Piper Sandler decreased their target price on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group boosted their target price on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft decreased their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Bank of America decreased their target price on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $66.53.

General Mills Stock Performance

Shares of GIS opened at $58.78 on Thursday. The stock has a 50-day simple moving average of $60.00 and a 200-day simple moving average of $65.28. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The stock has a market capitalization of $32.40 billion, a PE ratio of 12.78, a PEG ratio of 1.94 and a beta of 0.06. General Mills has a 1 year low of $55.15 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. On average, analysts predict that General Mills will post 4.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of General Mills by 31.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 217,729 shares of the company’s stock valued at $13,885,000 after purchasing an additional 52,262 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in shares of General Mills by 2.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 212,715 shares of the company’s stock valued at $13,565,000 after purchasing an additional 5,070 shares during the period. Aegis Wealth Management LLC acquired a new position in General Mills during the fourth quarter worth $271,000. Probity Advisors Inc. grew its holdings in General Mills by 8.9% during the fourth quarter. Probity Advisors Inc. now owns 14,004 shares of the company’s stock worth $893,000 after acquiring an additional 1,144 shares during the period. Finally, Siemens Fonds Invest GmbH grew its holdings in General Mills by 8.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 27,756 shares of the company’s stock worth $1,759,000 after acquiring an additional 2,123 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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.