General Mills’ (GIS) “Underweight” Rating Reiterated at Piper Jaffray Companies
General Mills, Inc. (NYSE:GIS)‘s stock had its “underweight” rating reissued by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Monday. They presently have a $56.00 price target on the stock, down from their previous price target of $57.00. Piper Jaffray Companies’ target price suggests a potential downside of 1.96% from the company’s current price.
Several other analysts also recently commented on GIS. BMO Capital Markets restated a “hold” rating and set a $67.00 target price on shares of General Mills in a report on Thursday. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research note on Monday. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $59.00 price target (down from $62.00) on shares of General Mills in a research note on Tuesday, May 30th. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Thursday, March 23rd. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $63.61.
Shares of General Mills (GIS) traded up 0.04% on Monday, reaching $57.12. 3,622,301 shares of the company were exchanged. The stock has a 50 day moving average price of $56.96 and a 200-day moving average price of $59.84. The stock has a market capitalization of $32.91 billion, a P/E ratio of 21.16 and a beta of 0.60. General Mills has a 12 month low of $55.57 and a 12 month high of $72.95. General Mills also was the recipient of unusually large options trading activity on Monday. Investors bought 347 put options on the stock. This represents an increase of 122% compared to the typical daily volume of 156 put options.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, March 21st. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.82 billion. General Mills had a net margin of 10.34% and a return on equity of 37.15%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. On average, equities analysts expect that General Mills will post $3.05 EPS for the current fiscal year.
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In related news, insider Jonathon Nudi acquired 1,800 shares of General Mills stock in a transaction on Wednesday, April 12th. The stock was purchased at an average cost of $57.45 per share, with a total value of $103,410.00. Following the completion of the transaction, the insider now directly owns 34,077 shares in the company, valued at approximately $1,957,723.65. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Alpha Windward LLC increased its stake in General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock worth $241,000 after buying an additional 34 shares in the last quarter. Tompkins Financial Corp increased its stake in General Mills by 2.8% in the first quarter. Tompkins Financial Corp now owns 5,868 shares of the company’s stock worth $372,000 after buying an additional 162 shares in the last quarter. Smith Moore & CO. increased its stake in General Mills by 0.4% in the fourth quarter. Smith Moore & CO. now owns 10,791 shares of the company’s stock worth $667,000 after buying an additional 40 shares in the last quarter. Integrated Wealth Management increased its stake in General Mills by 0.6% in the first quarter. Integrated Wealth Management now owns 8,801 shares of the company’s stock worth $519,000 after buying an additional 54 shares in the last quarter. Finally, Moreno Evelyn V increased its stake in General Mills by 20.5% in the first quarter. Moreno Evelyn V now owns 41,745 shares of the company’s stock worth $2,463,000 after buying an additional 7,100 shares in the last quarter. 70.51% of the stock is owned by 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.
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