General Mills (NYSE:GIS) Price Target Cut to $82.00 by Analysts at Deutsche Bank Aktiengesellschaft

General Mills (NYSE:GIS) had its price objective cut by research analysts at Deutsche Bank Aktiengesellschaft from $83.00 to $82.00 in a note issued to investors on Wednesday. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 27.31% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Barclays lifted their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Citigroup boosted their target price on shares of 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 price target on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Bank of America raised General Mills from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $80.00 in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.56.

General Mills Stock Down 2.3 %

Shares of NYSE GIS traded down $1.52 during midday trading on Wednesday, reaching $64.41. 2,702,632 shares of the company’s stock traded hands, compared to its average volume of 3,899,590. The company has a market cap of $35.76 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 3.41 and a beta of 0.10. General Mills has a one year low of $61.47 and a one year high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock’s 50 day simple moving average is $66.93 and its 200-day simple moving average is $68.20.

General Mills (NYSE:GIS) last announced its earnings results 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 business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. On average, analysts predict that General Mills will post 4.5 EPS for the current fiscal year.

Insider Transactions at General Mills

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maria Sastre sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,555 shares of company stock worth $4,721,336 in the last quarter. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On General Mills

Institutional investors have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC acquired a new stake in shares of General Mills in the second quarter valued at $370,000. 1620 Investment Advisors Inc. acquired a new stake in General Mills in the second quarter valued at approximately $47,000. &PARTNERS increased its stake in General Mills by 39.0% in the second quarter. &PARTNERS now owns 23,070 shares of the company’s stock valued at $1,459,000 after purchasing an additional 6,475 shares during the last quarter. JB Capital LLC raised its stake in General Mills by 2.3% during the 2nd quarter. JB Capital LLC now owns 48,792 shares of the company’s stock worth $3,087,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Secure Asset Management LLC boosted its position in shares of General Mills by 5.0% in the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after purchasing an additional 157 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

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.