General Mills (NYSE:GIS) Price Target Raised to $75.00

General Mills (NYSE:GIS) had its target price raised by Wells Fargo & Company from $67.00 to $75.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.28% from the company’s previous close.

Several other equities research analysts also recently commented on GIS. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Mizuho reduced their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Evercore ISI reduced their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. The Goldman Sachs Group began coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $70.07.

General Mills Stock Performance

General Mills stock traded up $0.32 on Friday, hitting $73.33. The company’s stock had a trading volume of 319,243 shares, compared to its average volume of 3,926,849. The firm has a market cap of $40.82 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average price of $68.51 and a 200-day moving average price of $68.09. General Mills has a one year low of $60.33 and a one year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. On average, equities analysts anticipate that General Mills will post 4.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GIS. Rise Advisors LLC lifted its position in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares during the last quarter. Fortis Group Advisors LLC increased its stake in shares of General Mills by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after acquiring an additional 229 shares during the last quarter. RFP Financial Group LLC increased its stake in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co increased its stake in shares of General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Company Profile

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.