Piper Sandler Lowers General Mills (NYSE:GIS) Price Target to $71.00

General Mills (NYSE:GIS) had its price objective cut by investment analysts at Piper Sandler from $84.00 to $71.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 15.25% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Mizuho lowered their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Barclays cut their target price on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Stifel Nicolaus lowered their price target 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, TD Cowen cut their price objective on shares of General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.06.

General Mills Price Performance

NYSE GIS opened at $61.60 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills has a 12 month low of $55.15 and a 12 month high of $75.90. The stock has a market cap of $33.96 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.94 and a beta of 0.10. The company’s 50 day moving average is $60.81 and its two-hundred day moving average is $66.48.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that General Mills will post 4.36 earnings per share for the current year.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of General Mills

Large investors have recently modified their holdings of the stock. Gladstone Institutional Advisory LLC boosted its position in shares of General Mills by 6.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after acquiring an additional 268 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of General Mills by 22.1% in the third quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after buying an additional 43,086 shares during the last quarter. JPMorgan Chase & Co. lifted its position in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the period. J2 Capital Management Inc purchased a new position in General Mills during the 4th quarter worth $547,000. Finally, Crossmark Global Holdings Inc. lifted its position in General Mills by 129.9% in the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock valued at $13,649,000 after purchasing an additional 104,436 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Company Profile

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.