General Mills Inc. (GIS) Rating Reiterated by BMO Capital Markets
General Mills Inc. (NYSE:GIS)‘s stock had its “hold” rating restated by equities researchers at BMO Capital Markets in a note issued to investors on Thursday. They presently have a $74.00 price target on the stock. BMO Capital Markets’ price objective suggests a potential upside of 13.39% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Credit Suisse Group AG reissued a “hold” rating and set a $68.00 price objective on shares of General Mills in a research note on Thursday. Consumer Edge lowered General Mills from a “neutral” rating to an “underperform” rating in a research note on Tuesday. Deutsche Bank AG reissued a “hold” rating and set a $67.00 price objective on shares of General Mills in a research note on Wednesday, September 14th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Finally, Morgan Stanley reissued a “hold” rating on shares of General Mills in a research note on Sunday, July 17th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $67.93.
Shares of General Mills (NYSE:GIS) traded down 0.58% during midday trading on Thursday, hitting $64.88. The stock had a trading volume of 1,783,243 shares. General Mills has a 1-year low of $53.53 and a 1-year high of $72.95. The stock has a market cap of $38.73 billion, a price-to-earnings ratio of 23.42 and a beta of 0.38. The firm’s 50-day moving average price is $69.28 and its 200-day moving average price is $66.06.
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General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. General Mills had a return on equity of 33.96% and a net margin of 10.25%. The firm earned $3.91 billion during the quarter. During the same period in the previous year, the business earned $0.79 earnings per share. General Mills’s revenue was down 7.3% on a year-over-year basis. Analysts forecast that General Mills will post $3.10 earnings per share for the current year.
In related news, Director Paul Danos sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $71.53, for a total transaction of $1,430,600.00. Following the transaction, the director now owns 43,799 shares in the company, valued at approximately $3,132,942.47. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $71.11, for a total value of $711,100.00. Following the transaction, the director now owns 79,954 shares in the company, valued at approximately $5,685,528.94. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GIS. GaveKal Capital LLC increased its position in shares of General Mills by 5.0% in the second quarter. GaveKal Capital LLC now owns 273,177 shares of the company’s stock worth $19,483,000 after buying an additional 12,990 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of General Mills by 647.8% in the first quarter. Panagora Asset Management Inc. now owns 1,363,848 shares of the company’s stock worth $86,400,000 after buying an additional 1,181,476 shares in the last quarter. IMS Capital Management acquired a new position in shares of General Mills during the second quarter worth about $212,000. State of Alaska Department of Revenue increased its position in shares of General Mills by 5.3% in the second quarter. State of Alaska Department of Revenue now owns 180,110 shares of the company’s stock worth $12,844,000 after buying an additional 9,006 shares in the last quarter. Finally, MAI Capital Management increased its position in shares of General Mills by 2.3% in the second quarter. MAI Capital Management now owns 4,600 shares of the company’s stock worth $328,000 after buying an additional 103 shares in the last quarter. Institutional investors own 69.13% 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.
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