General Mills (NYSE:GIS) Price Target Lowered to $31.00 at JPMorgan Chase & Co.

General Mills (NYSE:GIS) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $36.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 4.79% from the company’s previous close.

Several other equities analysts also recently weighed in on GIS. UBS Group reduced their price target on General Mills from $35.00 to $30.00 and set a “sell” rating for the company in a report on Tuesday. BTIG Research initiated coverage on General Mills in a report on Monday, April 13th. They set a “neutral” rating for the company. Bank of America reduced their price target on General Mills from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Morgan Stanley reduced their price target on General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, March 30th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $40.06.

General Mills Trading Down 1.5%

Shares of NYSE GIS traded down $0.51 during mid-day trading on Wednesday, hitting $32.56. The stock had a trading volume of 3,925,258 shares, compared to its average volume of 9,035,505. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills has a 1 year low of $32.43 and a 1 year high of $55.19. The business has a 50 day moving average price of $35.14 and a two-hundred day moving average price of $41.85. The firm has a market cap of $17.38 billion, a P/E ratio of 7.96 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business’s revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. On average, equities analysts anticipate that General Mills will post 3.43 EPS for the current fiscal year.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its position in shares of General Mills by 72.8% during the 1st quarter. NewEdge Advisors LLC now owns 123,524 shares of the company’s stock valued at $4,598,000 after buying an additional 52,046 shares in the last quarter. Financial Solutions Advisory Group Inc. purchased a new position in shares of General Mills during the 1st quarter valued at about $1,323,000. Alpine Woods Capital Investors LLC lifted its position in shares of General Mills by 635.8% during the 1st quarter. Alpine Woods Capital Investors LLC now owns 86,461 shares of the company’s stock valued at $3,218,000 after buying an additional 74,711 shares in the last quarter. Ritter Alpha LP purchased a new position in shares of General Mills during the 1st quarter valued at about $242,000. Finally, FinArc Investments Inc. purchased a new position in shares of General Mills during the 1st quarter valued at about $1,047,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.