Bank of America Boosts General Mills (NYSE:GIS) Price Target to $75.00

General Mills (NYSE:GIS) had its price objective boosted by research analysts at Bank of America from $68.00 to $75.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 2.99% from the stock’s previous close.

A number of other brokerages also recently issued reports on GIS. Argus reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Sanford C. Bernstein upgraded shares of General Mills from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $62.00 to $70.00 in a research note on Wednesday, May 15th. Evercore ISI reduced their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Mizuho reduced their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, Barclays dropped their price objective on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.53.

General Mills Stock Down 0.4 %

Shares of General Mills stock traded down $0.30 during trading on Thursday, hitting $72.82. The company’s stock had a trading volume of 1,804,451 shares, compared to its average volume of 3,935,950. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The company has a fifty day simple moving average of $68.31 and a two-hundred day simple moving average of $68.05. The company has a market capitalization of $40.64 billion, a PE ratio of 16.90, a P/E/G ratio of 4.25 and a beta of 0.10. General Mills has a 52 week low of $60.33 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm posted $1.12 EPS. General Mills’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts predict that General Mills will post 4.49 earnings per share for the current year.

Hedge Funds Weigh In On General Mills

Large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC raised its holdings in General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares in the last quarter. Fortis Group Advisors LLC increased its holdings in shares of General Mills by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after acquiring an additional 229 shares in the last quarter. RFP Financial Group LLC increased its holdings in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co increased its holdings in shares of General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

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.