General Mills Inc. (NYSE:GIS) was downgraded by analysts at Consumer Edge from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday.

Other research analysts have also recently issued research reports about the stock. Goldman Sachs Group Inc. restated a “sell” rating and issued a $61.00 price objective (up previously from $60.00) on shares of General Mills in a report on Friday, July 15th. Citigroup Inc. restated a “buy” rating and issued a $83.00 price objective (up previously from $76.00) on shares of General Mills in a report on Friday, July 15th. Morgan Stanley restated a “hold” rating on shares of General Mills in a report on Sunday, July 17th. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Tuesday, July 5th. Finally, Credit Suisse Group AG restated a “hold” rating on shares of General Mills in a report on Thursday, July 14th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $67.40.

General Mills (NYSE:GIS) traded down 0.78% on Tuesday, hitting $64.70. 3,526,841 shares of the company’s stock were exchanged. General Mills has a 12-month low of $53.53 and a 12-month high of $72.95. The company has a market cap of $38.63 billion, a PE ratio of 23.36 and a beta of 0.38. The company’s 50-day moving average price is $69.64 and its 200-day moving average price is $66.03.

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General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.86 billion. General Mills had a net margin of 10.25% and a return on equity of 33.96%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Analysts forecast that General Mills will post $3.10 earnings per share for the current year.

In related news, EVP Peter C. Erickson sold 83,850 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $71.90, for a total value of $6,028,815.00. Following the completion of the sale, the executive vice president now owns 213,669 shares in the company, valued at approximately $15,362,801.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey L. Harmening sold 33,150 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $71.05, for a total transaction of $2,355,307.50. Following the completion of the sale, the chief operating officer now owns 133,106 shares of the company’s stock, valued at approximately $9,457,181.30. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of General Mills by 2.8% in the second quarter. Vanguard Group Inc. now owns 42,294,810 shares of the company’s stock worth $3,016,466,000 after buying an additional 1,144,897 shares during the last quarter. State Street Corp increased its position in shares of General Mills by 2.1% in the first quarter. State Street Corp now owns 36,502,697 shares of the company’s stock worth $2,312,451,000 after buying an additional 736,454 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of General Mills by 8.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 19,026,634 shares of the company’s stock worth $1,205,337,000 after buying an additional 1,447,446 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of General Mills by 8.9% in the second quarter. BlackRock Fund Advisors now owns 14,309,161 shares of the company’s stock worth $1,020,529,000 after buying an additional 1,167,197 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of General Mills by 1.6% in the second quarter. BlackRock Group LTD now owns 7,035,387 shares of the company’s stock worth $501,764,000 after buying an additional 111,295 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About General Mills

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.

5 Day Chart for NYSE:GIS

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