Citigroup Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price objective cut by Citigroup from $71.00 to $67.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 3.35% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Barclays boosted their target price on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Bank of America upgraded shares of General Mills from a “neutral” rating to a “buy” rating and boosted their price target for the company from $78.00 to $80.00 in a research report on Friday, December 13th. Wells Fargo & Company cut their target price on shares of General Mills from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday. Piper Sandler boosted their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, Stifel Nicolaus dropped their price target on General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, General Mills has a consensus rating of “Hold” and a consensus target price of $71.94.

General Mills Price Performance

GIS traded up $0.92 during midday trading on Thursday, reaching $64.83. 2,289,080 shares of the company’s stock were exchanged, compared to its average volume of 3,940,309. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The business has a 50-day simple moving average of $66.76 and a two-hundred day simple moving average of $68.17. The firm has a market capitalization of $35.99 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. General Mills has a one year low of $61.47 and a one year high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. General Mills’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. As a group, research analysts predict that General Mills will post 4.5 EPS for the current year.

Insider Activity

In other General Mills news, Director Maria Sastre sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares of the company’s stock, valued at $1,465,007.58. This represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,555 shares of company stock worth $4,721,336 over the last quarter. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. bought a new stake in shares of General Mills during the 2nd quarter worth approximately $47,000. &PARTNERS raised its position in General Mills by 39.0% during the second quarter. &PARTNERS now owns 23,070 shares of the company’s stock worth $1,459,000 after acquiring an additional 6,475 shares in the last quarter. Secure Asset Management LLC lifted its stake in General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the last quarter. Premier Path Wealth Partners LLC grew its position in shares of General Mills by 10.7% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 3,168 shares of the company’s stock valued at $200,000 after acquiring an additional 307 shares during the period. Finally, Tower Bridge Advisors grew its position in shares of General Mills by 9.2% in the 2nd quarter. Tower Bridge Advisors now owns 4,730 shares of the company’s stock valued at $299,000 after acquiring an additional 400 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

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.