General Mills (NYSE:GIS) Price Target Lowered to $63.00 at Bank of America

General Mills (NYSE:GIS) had its price target trimmed by Bank of America from $68.00 to $63.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. UBS Group dropped their price target on General Mills from $54.00 to $52.00 and set a “sell” rating for the company in a research note on Friday, June 6th. Royal Bank Of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Jefferies Financial Group upped their target price on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Stifel Nicolaus decreased their target price on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group downgraded General Mills from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $58.00 in a research report on Monday, June 9th. 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 company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.75.

General Mills Stock Performance

Shares of NYSE:GIS opened at $52.91 on Wednesday. The firm has a market capitalization of $29.17 billion, a PE ratio of 11.63, a P/E/G ratio of 1.24 and a beta of 0.02. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.67 and a quick ratio of 0.44. The business has a 50-day moving average of $55.12 and a two-hundred day moving average of $59.03. General Mills has a 12 month low of $52.39 and a 12 month high of $75.90.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Perpetual Ltd raised its stake in shares of General Mills by 3.5% in the 1st quarter. Perpetual Ltd now owns 5,411 shares of the company’s stock valued at $324,000 after purchasing an additional 184 shares during the period. Conning Inc. raised its stake in shares of General Mills by 4.6% in the 1st 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. increased its position in shares of 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 acquiring an additional 185 shares during the last quarter. Eastern Bank increased its position in shares of General Mills by 0.8% in the first quarter. Eastern Bank now owns 24,817 shares of the company’s stock valued at $1,484,000 after acquiring an additional 186 shares during the last quarter. Finally, SPC Financial Inc. increased its position in shares of General Mills by 1.5% in the first quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after acquiring an additional 193 shares during the last quarter. 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.