Citigroup Raises General Mills (NYSE:GIS) Price Target to $76.00

General Mills (NYSE:GIS) had its target price boosted by research analysts at Citigroup from $68.00 to $76.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 1.16% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. Barclays reduced their target price on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Evercore ISI dropped their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, June 27th. Finally, Bank of America increased their target price on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus price target of $70.60.

General Mills Stock Performance

Shares of GIS stock traded up $1.42 during trading on Monday, hitting $75.13. The company’s stock had a trading volume of 1,482,054 shares, compared to its average volume of 3,928,233. The company has a market cap of $41.93 billion, a PE ratio of 17.45, a P/E/G ratio of 3.86 and a beta of 0.10. General Mills has a 52 week low of $60.33 and a 52 week high of $75.90. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average of $68.73 and a 200-day moving average of $68.20.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, research analysts anticipate that General Mills will post 4.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arkadios Wealth Advisors boosted its stake in General Mills by 41.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares during the last quarter. Optimist Retirement Group LLC purchased a new position in General Mills in the 4th quarter worth about $1,171,000. State Board of Administration of Florida Retirement System lifted its stake in General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after acquiring an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares during the period. Finally, Mitchell Sinkler & Starr PA boosted its holdings in shares of General Mills by 164.1% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock valued at $1,307,000 after acquiring an additional 11,298 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

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.