General Mills (NYSE:GIS) Price Target Cut to $31.00 by Analysts at TD Cowen

General Mills (NYSE:GIS) had its target price cut by TD Cowen from $32.00 to $31.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price indicates a potential downside of 14.30% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. BTIG Research started coverage on shares of General Mills in a research note on Monday, April 13th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. reduced their price objective on General Mills from $36.00 to $31.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. Barclays lowered their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Wells Fargo & Company cut their price objective on shares of General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on General Mills from $38.00 to $32.00 and set a “hold” rating on the stock 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 stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $39.06.

General Mills Stock Up 2.2%

Shares of NYSE:GIS traded up $0.77 on Friday, reaching $36.17. The company had a trading volume of 4,903,188 shares, compared to its average volume of 9,240,887. The firm has a market capitalization of $19.30 billion, a PE ratio of 8.85 and a beta of -0.03. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. General Mills has a 52-week low of $31.75 and a 52-week high of $54.18. The firm’s 50 day simple moving average is $34.09 and its 200-day simple moving average is $40.16.

Insider Buying and Selling at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the 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 completion of the transaction, the insider owned 62,283 shares of the company’s stock, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills 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 sale, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of General Mills

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP purchased a new stake in General Mills during the 2nd quarter worth approximately $9,188,000. Bank of Nova Scotia increased its position in shares of General Mills by 4.1% during the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after acquiring an additional 2,552 shares during the period. WINTON GROUP Ltd increased its position in shares of General Mills by 112.6% during the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after acquiring an additional 4,752 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after acquiring an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its holdings in General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after purchasing an additional 15,041 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

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.