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

General Mills (NYSE:GIS) had its price target decreased by investment analysts at Piper Sandler from $84.00 to $71.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 19.77% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GIS. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. Barclays decreased their price objective 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. Citigroup cut their price target on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.06.

General Mills Stock Performance

Shares of NYSE GIS opened at $59.28 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $32.68 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.94 and a beta of 0.10. The stock’s fifty day simple moving average is $60.63 and its 200 day simple moving average is $66.38. General Mills has a 52-week low of $55.15 and a 52-week high of $75.90.

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 analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares of the company’s stock, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Endeavor Private Wealth Inc. purchased a new position in General Mills in the 4th quarter worth $26,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $31,000. VSM Wealth Advisory LLC bought a new stake in shares of General Mills during the 4th quarter valued at about $32,000. Finally, Transce3nd LLC bought a new stake in General Mills during the fourth quarter worth about $32,000. 75.71% of the stock is owned by institutional investors.

About General Mills

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.