General Mills (NYSE:GIS) Given New $65.00 Price Target at Barclays

General Mills (NYSE:GIS) had its target price decreased by equities researchers at Barclays from $68.00 to $65.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 6.55% from the stock’s previous close.

Several other equities research analysts have also issued reports on GIS. Piper Sandler dropped their price objective 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. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. TD Cowen lowered their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America lowered their price target on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. One research 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.com, General Mills currently has an average rating of “Hold” and a consensus target price of $67.53.

General Mills Price Performance

NYSE:GIS opened at $61.01 on Tuesday. The firm has a market capitalization of $33.63 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 1.94 and a beta of 0.06. General Mills has a 52-week low of $55.15 and a 52-week high of $75.90. The stock has a fifty day moving average of $60.09 and a 200 day moving average of $65.55. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92.

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

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $67,144.50. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Institutional Trading of General Mills

Large investors have recently bought and sold shares of the company. Endeavor Private Wealth Inc. bought a new stake in General Mills during the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC bought a new stake in General Mills during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Mills during the 4th quarter valued at approximately $31,000. VSM Wealth Advisory LLC bought a new stake in General Mills during the 4th quarter valued at approximately $32,000. Finally, Transce3nd LLC bought a new stake in General Mills during the 4th quarter valued at approximately $32,000. 75.71% of the stock is owned by institutional investors.

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.