General Mills, Inc. (GIS) Stock Rating Reaffirmed by Credit Suisse Group
General Mills, Inc. (NYSE:GIS)‘s stock had its “neutral” rating restated by equities researchers at Credit Suisse Group in a research report issued on Monday. They currently have a $53.00 price objective on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 3.46% from the company’s current price.
Several other equities research analysts have also commented on GIS. UBS AG reaffirmed a “neutral” rating and issued a $61.00 price target (down from $63.00) on shares of General Mills in a report on Wednesday, June 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $57.00 price target (down from $60.00) on shares of General Mills in a report on Thursday. Bank of America Corporation lowered their price target on shares of General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company decreased their price objective on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Piper Jaffray Companies set a $56.00 price objective on shares of General Mills and gave the stock a “sell” rating in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $57.49.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company posted $0.78 earnings per share. General Mills’s revenue for the quarter was down 3.6% compared to the same quarter last year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in General Mills by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock valued at $2,214,240,000 after acquiring an additional 533,919 shares during the last quarter. American Century Companies Inc. raised its holdings in General Mills by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock valued at $539,908,000 after acquiring an additional 659,156 shares during the last quarter. Morgan Stanley raised its holdings in General Mills by 29.4% in the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after acquiring an additional 1,603,577 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in General Mills by 26.1% in the 1st quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after acquiring an additional 1,449,632 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in General Mills by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock valued at $342,642,000 after acquiring an additional 295,119 shares during the last quarter. Hedge funds and other institutional investors own 69.38% 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 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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