General Mills (NYSE:GIS) Price Target Lowered to $55.00 at Wells Fargo & Company

General Mills (NYSE:GIS - Get Free Report) had its price target cut by investment analysts at Wells Fargo & Company from $61.00 to $55.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 2.43% from the company's previous close.

A number of other research analysts also recently commented on the stock. Mizuho dropped their target price on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Barclays dropped their price objective on General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 18th. Morgan Stanley started coverage on General Mills in a report on Monday, March 24th. They issued an "underweight" rating and a $53.00 target price for the company. Jefferies Financial Group raised their price target on General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Finally, Piper Sandler cut their price target on General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $63.06.

General Mills Stock Up 0.3%

Shares of GIS traded up $0.14 during midday trading on Monday, reaching $53.70. The stock had a trading volume of 608,092 shares, compared to its average volume of 4,533,342. General Mills has a 1-year low of $52.39 and a 1-year high of $75.90. The company's fifty day simple moving average is $55.38 and its two-hundred day simple moving average is $59.20. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.94 and a beta of 0.02. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.96 by $0.04. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. Equities research analysts expect that General Mills will post 4.36 earnings per share for the current year.

Hedge Funds Weigh In On General Mills

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Perpetual Ltd boosted its holdings in shares of General Mills by 3.5% in the first quarter. Perpetual Ltd now owns 5,411 shares of the company's stock valued at $324,000 after acquiring an additional 184 shares in the last quarter. Conning Inc. lifted its position in General Mills by 4.6% in the first quarter. Conning Inc. now owns 4,212 shares of the company's stock valued at $252,000 after purchasing an additional 185 shares during the period. Benjamin Edwards Inc. lifted its position in General Mills by 0.4% in the first quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company's stock valued at $3,127,000 after purchasing an additional 185 shares during the period. Eastern Bank boosted its holdings in General Mills by 0.8% in the 1st quarter. Eastern Bank now owns 24,817 shares of the company's stock valued at $1,484,000 after purchasing an additional 186 shares in the last quarter. Finally, SPC Financial Inc. increased its position in General Mills by 1.5% during the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company's stock worth $804,000 after purchasing an additional 193 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

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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