Wells Fargo & Company Lowers General Mills (NYSE:GIS) Price Target to $70.00

General Mills (NYSE:GIS) had its target price reduced by investment analysts at Wells Fargo & Company from $77.00 to $70.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 8.18% from the stock’s previous close.

A number of other research firms also recently issued reports on GIS. Citigroup boosted their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Stifel Nicolaus raised their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Bank of America upped their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Piper Sandler increased their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $72.67.

General Mills Stock Down 0.8 %

Shares of NYSE:GIS opened at $64.71 on Friday. General Mills has a 12-month low of $61.47 and a 12-month high of $75.90. The stock’s 50-day moving average price is $71.10 and its two-hundred day moving average price is $68.93. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm has a market cap of $35.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 3.35 and a beta of 0.11.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, research analysts forecast that General Mills will post 4.51 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock worth $4,657,676 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Institutional Trading of General Mills

Large investors have recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new position in General Mills during the third quarter valued at $272,000. Ascent Group LLC grew its stake in General Mills by 64.1% during the 3rd quarter. Ascent Group LLC now owns 56,569 shares of the company’s stock valued at $4,178,000 after acquiring an additional 22,097 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of General Mills in the 3rd quarter valued at about $4,015,000. Edgestream Partners L.P. lifted its position in shares of General Mills by 53.5% in the third quarter. Edgestream Partners L.P. now owns 33,653 shares of the company’s stock worth $2,485,000 after purchasing an additional 11,735 shares in the last quarter. Finally, L.M. Kohn & Company boosted its holdings in shares of General Mills by 13.4% during the third quarter. L.M. Kohn & Company now owns 6,486 shares of the company’s stock worth $479,000 after purchasing an additional 764 shares during the period. 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.