Bank of America Issues Pessimistic Forecast for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS - Get Free Report) had its price target dropped by equities research analysts at Bank of America from $68.00 to $63.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 18.91% from the company's current price.

Several other analysts have also recently issued reports on GIS. UBS Group decreased their price objective on General Mills from $54.00 to $52.00 and set a "sell" rating on the stock in a report on Friday, June 6th. Wells Fargo & Company decreased their price target on shares of General Mills from $61.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Monday. Stifel Nicolaus dropped their price objective on shares of General Mills from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Morgan Stanley assumed coverage on shares of General Mills in a research report on Monday, March 24th. They set an "underweight" rating and a $53.00 target price on the stock. Finally, Barclays dropped their price target on General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $62.75.

General Mills Trading Down 0.2%

Shares of General Mills stock traded down $0.10 on Wednesday, hitting $52.98. The stock had a trading volume of 454,136 shares, compared to its average volume of 5,315,343. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.24. General Mills has a one year low of $52.39 and a one year high of $75.90. The stock's 50-day simple moving average is $55.22 and its two-hundred day simple moving average is $59.07. The stock has a market cap of $29.20 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.25 and a beta of 0.02.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 26.39% and a net margin of 13.02%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company earned $1.17 earnings per share. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts predict that General Mills will post 4.36 EPS for the current year.

Institutional Investors Weigh In On General Mills

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC bought a new position in shares of General Mills during the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Mills in the fourth quarter worth about $31,000. Perkins Coie Trust Co lifted its stake in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares during the period. VSM Wealth Advisory LLC bought a new position in General Mills during the 4th quarter worth about $32,000. Finally, Transce3nd LLC purchased a new position in General Mills during the 4th quarter valued at about $32,000. 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.

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