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

General Mills (NYSE:GIS) had its price target lowered by stock analysts at Mizuho from $62.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price would suggest a potential upside of 2.49% from the stock’s previous close.

Several other analysts have also issued reports on GIS. Jefferies Financial Group increased their price target on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Bank of America reduced their target price on General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup lowered their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $66.76.

General Mills Price Performance

Shares of NYSE GIS traded down $0.66 during midday trading on Thursday, reaching $58.54. The company’s stock had a trading volume of 3,079,113 shares, compared to its average volume of 3,957,498. 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 company has a market cap of $32.27 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.94 and a beta of 0.06. The business’s 50 day moving average price is $60.04 and its two-hundred day moving average price is $65.42. General Mills has a fifty-two week low of $55.15 and a fifty-two week high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping 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 net margin of 13.08% and a return on equity of 27.55%. General Mills’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 earnings per share. On average, analysts forecast that General Mills will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. bought a new position in shares of General Mills during the 3rd quarter worth approximately $243,000. Natixis Advisors LLC grew its holdings in General Mills by 1.4% in the third quarter. Natixis Advisors LLC now owns 130,210 shares of the company’s stock worth $9,616,000 after purchasing an additional 1,758 shares during the period. Thrivent Financial for Lutherans increased its stake in General Mills by 6.9% in the third quarter. Thrivent Financial for Lutherans now owns 45,028 shares of the company’s stock valued at $3,325,000 after purchasing an additional 2,907 shares in the last quarter. Pathstone Holdings LLC raised its holdings in shares of General Mills by 4.7% during the third quarter. Pathstone Holdings LLC now owns 71,142 shares of the company’s stock valued at $5,254,000 after purchasing an additional 3,178 shares during the period. Finally, Prospera Financial Services Inc boosted its position in shares of General Mills by 5.3% during the 3rd quarter. Prospera Financial Services Inc now owns 8,414 shares of the company’s stock worth $622,000 after purchasing an additional 427 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

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.