General Mills (NYSE:GIS) Given New $71.00 Price Target at Piper Sandler

General Mills (NYSE:GIS) had its target price cut by Piper Sandler from $84.00 to $71.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 15.25% from the company’s current price.

A number of other brokerages have also weighed in on GIS. Bank of America decreased their price target on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. TD Cowen reduced their price target on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their price target on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Finally, Citigroup cut their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.06.

General Mills Stock Performance

NYSE GIS opened at $61.60 on Tuesday. The business has a 50 day moving average price of $60.81 and a 200 day moving average price of $66.48. The company has a market capitalization of $33.96 billion, a P/E ratio of 13.39, a PEG ratio of 1.94 and a beta of 0.10. General Mills has a 1-year low of $55.15 and a 1-year high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. Sell-side analysts expect that General Mills will post 4.36 EPS for the current fiscal year.

Insider Transactions at General Mills

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills 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 transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GIS. Gladstone Institutional Advisory LLC lifted its position in shares of General Mills by 6.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after purchasing an additional 268 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after buying an additional 43,086 shares during the period. JPMorgan Chase & Co. increased its stake in General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after buying an additional 2,926,232 shares during the period. J2 Capital Management Inc purchased a new stake in General Mills in the 4th quarter worth approximately $547,000. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of General Mills by 129.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after buying an additional 104,436 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.