Bank of America Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GISGet Free Report) had its target price dropped by investment analysts at Bank of America from $68.00 to $63.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 19.07% from the company’s current price.

A number of other analysts have also weighed in on the company. Wells Fargo & Company lowered their target price on General Mills from $61.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday. Stifel Nicolaus lowered their target price on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group downgraded General Mills from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $58.00 in a research report on Monday, June 9th. Morgan Stanley started coverage on General Mills in a research report on Monday, March 24th. They set an “underweight” rating and a $53.00 price target on the stock. Finally, Barclays reduced their price target on General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.75.

Check Out Our Latest Stock Analysis on GIS

General Mills Stock Down 0.3%

General Mills stock opened at $52.91 on Wednesday. The business has a fifty day moving average of $55.03 and a two-hundred day moving average of $58.93. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.24. The firm has a market cap of $29.17 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.25 and a beta of 0.02. General Mills has a twelve month low of $52.39 and a twelve month high of $75.90.

General Mills (NYSE:GISGet Free Report) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates 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%. General Mills’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, analysts forecast that General Mills will post 4.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Mills

Hedge funds have recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Mills in the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Mills in the 4th quarter valued at $31,000. Perkins Coie Trust Co increased its position in shares of General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock valued at $31,000 after acquiring an additional 211 shares during the period. VSM Wealth Advisory LLC acquired a new position in shares of General Mills in the 4th quarter valued at $32,000. Finally, Transce3nd LLC acquired a new position in shares of General Mills in the 4th quarter valued at $32,000. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for General Mills (NYSE:GIS)

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.