Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its target price lowered by stock analysts at Deutsche Bank Aktiengesellschaft from $38.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential downside of 14.23% from the stock’s current price.

A number of other research firms have also weighed in on GIS. Stifel Nicolaus lowered their price objective on shares of General Mills from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Piper Sandler reduced their target price on shares of General Mills from $53.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Zacks Research downgraded shares of General Mills from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Barclays dropped their price target on shares of General Mills from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, March 16th. Finally, Bank of America cut shares of General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $43.56.

General Mills Stock Up 0.5%

General Mills stock opened at $37.31 on Monday. General Mills has a twelve month low of $35.63 and a twelve month high of $62.61. The stock has a 50 day moving average of $43.27 and a two-hundred day moving average of $45.95. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $19.91 billion, a price-to-earnings ratio of 9.12 and a beta of -0.05.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). The company had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 earnings per share. As a group, research analysts expect that General Mills will post 4.36 earnings per share for the current year.

Institutional Trading of General Mills

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its position in General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after buying an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in General Mills by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock valued at $915,953,000 after buying an additional 488,617 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after acquiring an additional 172,200 shares during the period. Nordea Investment Management AB boosted its stake in shares of General Mills by 15.9% during the 3rd quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock worth $494,548,000 after acquiring an additional 1,368,041 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after acquiring an additional 200,043 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.