Wells Fargo & Company Trims General Mills, Inc. (GIS) Target Price to $53.00

General Mills, Inc. (NYSE:GIS) had its price target trimmed by Wells Fargo & Company from $56.00 to $53.00 in a research report sent to investors on Friday. The brokerage currently has a market perform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS AG reissued a neutral rating and set a $61.00 price target (down previously from $63.00) on shares of General Mills in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of General Mills from a hold rating to a sell rating in a research report on Monday, June 19th. Bank of America Corporation reduced their price target on shares of General Mills from $61.00 to $55.00 and set a neutral rating for the company in a research report on Thursday, September 21st. Piper Jaffray Companies reissued an underweight rating and set a $56.00 price target (down previously from $57.00) on shares of General Mills in a research report on Monday, June 19th. Finally, Susquehanna Bancshares Inc reissued a neutral rating and set a $58.00 price target (down previously from $59.00) on shares of General Mills in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $57.49.

General Mills (GIS) opened at 52.27 on Friday. General Mills has a 12-month low of $50.40 and a 12-month high of $65.24. The company has a market capitalization of $29.71 billion, a price-to-earnings ratio of 18.73 and a beta of 0.62. The stock has a 50 day moving average price of $55.75 and a 200 day moving average price of $56.75.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. General Mills’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS. On average, analysts expect that General Mills will post $3.09 EPS for the current year.

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Hedge funds have recently modified their holdings of the company. Lenox Wealth Advisors Inc. grew its position in shares of General Mills by 0.8% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after acquiring an additional 15 shares during the period. Hanson McClain Inc. grew its position in shares of General Mills by 1.5% during the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after acquiring an additional 35 shares during the period. Winslow Evans & Crocker Inc. grew its position in shares of General Mills by 2.9% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after acquiring an additional 69 shares during the period. Assetmark Inc. grew its position in shares of General Mills by 11.2% during the 1st quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock valued at $148,000 after acquiring an additional 253 shares during the period. Finally, IHT Wealth Management LLC grew its position in shares of General Mills by 33.4% during the 1st quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock valued at $146,000 after acquiring an additional 627 shares during the period. 69.38% of the stock is owned by hedge funds and other institutional investors.

About General Mills

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.

Analyst Recommendations for General Mills (NYSE:GIS)

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