Wells Fargo & Company Lowers General Mills (NYSE:GIS) Price Target to $61.00

General Mills (NYSE:GIS) had its price objective cut by equities researchers at Wells Fargo & Company from $64.00 to $61.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 3.13% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and raised their price target for the stock from $78.00 to $80.00 in a research note on Friday, December 13th. Stifel Nicolaus reduced their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen reduced their target price on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Citigroup reduced their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft reduced 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. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $69.88.

General Mills Stock Performance

NYSE:GIS opened at $59.15 on Wednesday. The company’s 50-day moving average price is $61.01 and its 200-day moving average price is $66.61. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The company has a market cap of $32.61 billion, a P/E ratio of 12.86, a P/E/G ratio of 3.71 and a beta of 0.10. General Mills has a twelve month low of $55.15 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. On average, sell-side analysts forecast that General Mills will post 4.4 earnings per share for the current fiscal year.

Insider Activity at General Mills

In related 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 value 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. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Endeavor Private Wealth Inc. acquired a new position in shares of General Mills in the fourth quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new position in shares of General Mills in the third quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Mills in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Mills in the fourth quarter valued at approximately $31,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of General Mills in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

About General Mills

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.