General Mills (NYSE:GIS) Given New $61.00 Price Target at Wells Fargo & Company

General Mills (NYSE:GIS) had its price objective dropped by stock analysts at Wells Fargo & Company from $64.00 to $61.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 6.04% from the stock’s previous close.

A number of other brokerages have also recently commented on GIS. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and upped their price target for the company from $78.00 to $80.00 in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft cut their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. Mizuho cut their target price on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Finally, Barclays cut their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $69.88.

General Mills Trading Down 2.2 %

NYSE:GIS opened at $57.53 on Wednesday. General Mills has a 12 month low of $55.15 and a 12 month high of $75.90. 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 firm’s 50 day moving average is $61.30 and its 200 day moving average is $66.72. The stock has a market capitalization of $31.71 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 3.79 and a beta of 0.10.

General Mills (NYSE:GIS) last issued 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 firm had revenue of $5.24 billion for 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 business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. Sell-side analysts expect that General Mills will post 4.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the stock in a transaction dated Friday, December 20th. The stock was 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. This represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of General Mills

Hedge funds and other institutional investors have recently bought and sold shares of the company. Values First Advisors Inc. bought a new stake in shares of General Mills in the 3rd quarter worth approximately $27,000. Endeavor Private Wealth Inc. purchased a new position in General Mills in the 4th quarter worth $26,000. CBIZ Investment Advisory Services LLC purchased a new position in General Mills in the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Mills in the fourth quarter worth $31,000. Finally, Transce3nd LLC purchased a new stake in General Mills during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors 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.