General Mills (NYSE:GIS) Price Target Raised to $35.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase raised its price target on General Mills to $35 from $31, but kept an underweight rating. The new target still implies a downside from the previous close.
• General Mills recently posted better-than-expected quarterly results, with EPS of $0.95 versus the $0.80 estimate and revenue of $4.61 billion slightly above forecasts. The company also reiterated FY2027 EPS guidance of 3.00 to 3.20, which was below consensus expectations.
• Analyst sentiment remains mixed, with multiple firms adjusting targets but maintaining cautious ratings. MarketBeat says the stock carries a consensus “Reduce” rating and an average target price of $39.

General Mills (NYSE:GIS - Get Free Report) had its target price upped by JPMorgan Chase & Co. from $31.00 to $35.00 in a report released on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 6.08% from the company's previous close.

Several other equities research analysts also recently issued reports on GIS. Piper Sandler lowered their price objective on shares of General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group raised their price target on shares of General Mills from $33.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Thursday. Weiss Ratings reissued a "sell (d)" rating on shares of General Mills in a research report on Tuesday, June 16th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $36.00 price objective on shares of General Mills in a research report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, General Mills has a consensus rating of "Reduce" and an average target price of $39.00.

General Mills Stock Performance

Shares of NYSE:GIS traded down $0.50 during midday trading on Thursday, hitting $37.27. The company's stock had a trading volume of 4,425,905 shares, compared to its average volume of 9,467,642. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. The stock's 50 day simple moving average is $34.18 and its 200 day simple moving average is $39.88. The stock has a market capitalization of $19.89 billion, a price-to-earnings ratio of 9.11 and a beta of -0.03. General Mills has a fifty-two week low of $31.75 and a fifty-two week high of $54.01.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts anticipate that General Mills will post 3.42 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares of the company's stock, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the transaction, the insider owned 62,283 shares of the company's stock, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Mills

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIS. Marshall Wace LLP bought a new position in General Mills in the 2nd quarter valued at $9,188,000. Bank of Nova Scotia increased its position in General Mills by 4.1% in the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock worth $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd raised its holdings in General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock worth $465,000 after purchasing an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock valued at $4,250,000 after purchasing an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC grew its position in shares of General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock worth $1,012,000 after buying an additional 15,041 shares during the period. Institutional investors and hedge funds own 75.71% of the company's stock.

Key Headlines Impacting General Mills

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: General Mills beat quarterly earnings and revenue expectations, signaling resilient demand for staples and improved profitability. Reuters article
• Positive Sentiment: The company announced a major $3 billion cost-savings target, which should help protect margins and support future earnings. Yahoo Finance article
• Positive Sentiment: General Mills is leaning into product innovation, including Reese’s Puffs tie-ups and higher-protein Cheerios, to win back value-conscious shoppers. Yahoo Finance article
• Positive Sentiment: Analysts raised price targets after the upbeat quarter, reflecting improved sentiment around the turnaround story. Benzinga article
• Neutral Sentiment: Deutsche Bank raised its price target to $33 and kept a hold rating, but that target is still below the current share price. Benzinga article
• Neutral Sentiment: Bank of America lifted its target to $39 with a neutral rating, suggesting some upside but not a strong bullish call. Benzinga article
• Negative Sentiment: Management’s FY2027 EPS guidance of $3.00-$3.20 was below the consensus estimate, which may temper enthusiasm after the earnings beat. Reuters article

General Mills Company Profile

General Mills, Inc NYSE: GIS is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company's portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.

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