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

General Mills (NYSE:GIS) had its target price increased by stock analysts at Citigroup from $68.00 to $76.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 2.01% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on GIS. Stifel Nicolaus reduced their price target on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Evercore ISI lowered their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Bank of America raised their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company increased their target price on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus price target of $70.60.

General Mills Stock Down 0.2 %

Shares of GIS opened at $74.50 on Monday. General Mills has a 1 year low of $60.33 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The stock has a 50 day simple moving average of $69.21 and a two-hundred day simple moving average of $68.35. The firm has a market cap of $41.58 billion, a P/E ratio of 17.29, a P/E/G ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. On average, analysts forecast that General Mills will post 4.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Mills

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors lifted its position 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 acquiring an additional 10,765 shares during the period. Optimist Retirement Group LLC bought a new stake in shares of General Mills in the 4th quarter worth approximately $1,171,000. State Board of Administration of Florida Retirement System boosted its position in shares of General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of General Mills by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after buying an additional 96,712 shares during the last quarter. Finally, Mitchell Sinkler & Starr PA increased its position in 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 buying an additional 11,298 shares in the last quarter. 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.