General Mills (NYSE:GIS) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $56.00 to $54.00 in a research note issued on Wednesday. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 2.80% from the company’s current price.
A number of other research firms have also commented on GIS. Argus reiterated a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. BMO Capital Markets reiterated a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Susquehanna Bancshares set a $61.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Friday, January 5th. Piper Jaffray Companies upgraded shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price objective on the stock in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group set a $60.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $57.43.
Shares of General Mills (NYSE:GIS) traded up $0.54 during trading hours on Wednesday, hitting $52.53. 1,118,093 shares of the company’s stock traded hands, compared to its average volume of 4,156,541. General Mills has a 12 month low of $49.65 and a 12 month high of $61.34. The firm has a market capitalization of $29,940.00, a price-to-earnings ratio of 19.21, a P/E/G ratio of 2.15 and a beta of 0.72. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79.
General Mills declared that its board has initiated a stock buyback program on Friday, February 23rd that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of General Mills stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the transaction, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in General Mills by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after purchasing an additional 1,550,074 shares during the period. American International Group Inc. boosted its stake in General Mills by 10.3% in the 4th quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock worth $590,566,000 after purchasing an additional 932,891 shares during the period. Bank of New York Mellon Corp boosted its stake in General Mills by 13.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after purchasing an additional 1,009,126 shares during the period. Geode Capital Management LLC boosted its stake in General Mills by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,261,796 shares of the company’s stock worth $370,514,000 after purchasing an additional 146,687 shares during the period. Finally, Legal & General Group Plc boosted its stake in General Mills by 3.8% in the 3rd quarter. Legal & General Group Plc now owns 3,526,158 shares of the company’s stock worth $182,549,000 after purchasing an additional 130,606 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “General Mills (GIS) Price Target Cut to $54.00 by Analysts at JPMorgan Chase & Co.” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/03/14/general-mills-gis-price-target-cut-to-54-00-by-analysts-at-jpmorgan-chase-co.html.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.