Barclays Raises General Mills (NYSE:GIS) Price Target to $74.00

General Mills (NYSE:GIS) had its target price upped by research analysts at Barclays from $67.00 to $74.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 0.74% from the stock’s previous close.

GIS has been the topic of several other reports. Piper Sandler boosted their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Wells Fargo & Company lifted their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Evercore ISI lowered their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average price target of $72.40.

General Mills Stock Performance

Shares of General Mills stock traded down $0.35 on Friday, reaching $74.55. 862,607 shares of the stock were exchanged, compared to its average volume of 3,948,568. 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 firm has a market capitalization of $41.61 billion, a PE ratio of 17.30, a PEG ratio of 3.86 and a beta of 0.10. General Mills has a 1-year low of $60.33 and a 1-year high of $75.90. The business has a fifty day moving average price of $69.69 and a two-hundred day moving average price of $68.44.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business posted $1.09 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts anticipate that General Mills will post 4.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On General Mills

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clifford Capital Partners LLC grew its holdings in General Mills by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 217,113 shares of the company’s stock valued at $13,735,000 after buying an additional 38,204 shares during the period. Cannon Financial Strategists Inc. acquired a new stake in shares of General Mills in the second quarter worth approximately $559,000. Sanctuary Advisors LLC purchased a new stake in General Mills in the second quarter valued at approximately $3,202,000. Birmingham Capital Management Co. Inc. AL increased its position in General Mills by 1.9% during the second quarter. Birmingham Capital Management Co. Inc. AL now owns 13,640 shares of the company’s stock worth $863,000 after purchasing an additional 250 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its stake in General Mills by 1.5% during the second quarter. Dana Investment Advisors Inc. now owns 132,059 shares of the company’s stock worth $8,354,000 after purchasing an additional 1,937 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

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.