General Mills, Inc. (GIS) Upgraded by Zacks Investment Research to Hold
General Mills, Inc. (NYSE:GIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “General Mills' consumer-focused innovation, marketing initiatives and robust restructuring savings are making up for the sluggish revenue growth. The company is currently pursuing several initiatives focused on improving operational efficiency to generate cost savings and support its key growth strategies. By fiscal 2018, the company expects to achieve cost savings through increased efficiency, reduced complexity through SKU optimization, further supply chain optimization and continued expansion of zero-based budgeting across the business, which will result in accelerated margin expansion. However, General Mills' shares have underperformed the industry so far this year. Slowing organic volumes are overshadowing minor improvements in profit margins. Earnings estimates for the current quarter and the year have been revised downward by 3.5% and 1%, respectively, over the last 60 days, reflecting analyst concerns surrounding the stock.”
GIS has been the subject of a number of other research reports. Royal Bank Of Canada set a $62.00 target price on General Mills and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $56.00 target price on General Mills and gave the company a “sell” rating in a report on Monday, August 7th. BMO Capital Markets reissued a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. Finally, Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a report on Friday, September 8th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $56.60.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lenox Wealth Advisors raised its stake in General Mills by 0.7% in the fourth quarter. Lenox Wealth Advisors now owns 1,751 shares of the company’s stock valued at $101,000 after buying an additional 13 shares in the last quarter. Lenox Wealth Advisors Inc. raised its stake in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after buying an additional 15 shares in the last quarter. Hallmark Capital Management Inc. acquired a new stake in General Mills in the second quarter valued at $103,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in General Mills in the second quarter valued at $107,000. Finally, Penserra Capital Management LLC raised its stake in General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock valued at $110,000 after buying an additional 864 shares in the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.
General Mills Company Profile
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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