Royal Bank Of Canada Reiterates “Hold” Rating for General Mills, Inc. (GIS)
General Mills, Inc. (NYSE:GIS)‘s stock had its “hold” rating restated by research analysts at Royal Bank Of Canada in a research note issued on Wednesday. They presently have a $62.00 price objective on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 12.01% from the company’s current price.
A number of other brokerages have also issued reports on GIS. BidaskClub upgraded General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Susquehanna Bancshares Inc set a $59.00 price target on General Mills and gave the company a “hold” rating in a report on Sunday, June 25th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $52.00 price target (down previously from $59.00) on shares of General Mills in a report on Friday, June 30th. Stifel Nicolaus lowered their price target on General Mills from $60.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, June 29th. Finally, Piper Jaffray Companies set a $56.00 price target on General Mills and gave the company a “sell” rating in a report on Monday, August 7th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.52.
Shares of General Mills (NYSE GIS) traded up 1.26% on Wednesday, hitting $55.35. The stock had a trading volume of 3,388,949 shares. The company has a 50-day moving average of $55.64 and a 200-day moving average of $57.06. General Mills has a 52-week low of $52.76 and a 52-week high of $66.98. The company has a market cap of $31.94 billion, a P/E ratio of 19.98 and a beta of 0.62.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. General Mills’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, equities analysts anticipate that General Mills will post $3.11 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of General Mills by 1.4% during the second quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after purchasing an additional 533,919 shares in the last quarter. American Century Companies Inc. increased its position in shares of General Mills by 7.3% during the second quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock worth $539,908,000 after purchasing an additional 659,156 shares in the last quarter. Morgan Stanley increased its position in shares of General Mills by 29.4% during the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after purchasing an additional 1,603,577 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of General Mills by 26.1% during the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock worth $413,862,000 after purchasing an additional 1,449,632 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of General Mills by 5.3% during the first quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock worth $342,642,000 after purchasing an additional 295,119 shares in the last quarter. 69.49% of the stock is currently owned by institutional investors and hedge funds.
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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