Wells Fargo & Company Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price objective dropped by equities researchers at Wells Fargo & Company from $64.00 to $61.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.04% from the company’s current price.

A number of other brokerages have also weighed in on GIS. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Bank of America raised General Mills from a “neutral” rating to a “buy” rating and raised their price target for the stock from $78.00 to $80.00 in a research note on Friday, December 13th. Citigroup reduced their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Mizuho dropped their target price on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average price target of $69.88.

General Mills Trading Down 2.2 %

NYSE:GIS opened at $57.53 on Wednesday. The firm has a market capitalization of $31.71 billion, a P/E ratio of 12.51, a P/E/G ratio of 3.79 and a beta of 0.10. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $61.30 and a 200 day moving average of $66.72. General Mills has a 52 week low of $55.15 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, research analysts predict that General Mills will post 4.4 earnings per share for the current year.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Institutional Trading of General Mills

Several institutional investors have recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its stake in shares of General Mills by 27.9% in the third quarter. Foundations Investment Advisors LLC now owns 15,121 shares of the company’s stock worth $1,117,000 after buying an additional 3,303 shares in the last quarter. Calton & Associates Inc. purchased a new position in General Mills in the 3rd quarter worth approximately $240,000. Eastern Bank lifted its position in General Mills by 434.2% in the 3rd quarter. Eastern Bank now owns 24,717 shares of the company’s stock valued at $1,825,000 after acquiring an additional 20,090 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in General Mills during the 3rd quarter valued at $746,000. Finally, Tempus Wealth Planning LLC increased its holdings in shares of General Mills by 8.3% in the 3rd quarter. Tempus Wealth Planning LLC now owns 3,720 shares of the company’s stock worth $275,000 after purchasing an additional 285 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

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.