General Mills (NYSE:GIS)‘s stock had its “neutral” rating reiterated by Bank of America in a research note issued on Friday, MarketBeat reports. They currently have a $45.00 price target on the stock, down from their previous price target of $49.00. Bank of America’s price target would indicate a potential upside of 16.94% from the company’s current price.
A number of other equities research analysts have also issued reports on GIS. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. ValuEngine raised General Mills from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Credit Suisse Group set a $46.00 target price on General Mills and gave the stock a “hold” rating in a research report on Thursday, September 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $52.00 target price on shares of General Mills in a research report on Monday, September 17th. Finally, Morgan Stanley initiated coverage on General Mills in a research report on Monday, September 17th. They set an “equal weight” rating and a $48.00 target price on the stock. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $50.06.
Shares of General Mills stock opened at $38.48 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $23.69 billion, a PE ratio of 12.37, a PEG ratio of 1.67 and a beta of 0.60. General Mills has a fifty-two week low of $38.17 and a fifty-two week high of $60.69.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.12 billion. General Mills had a return on equity of 31.84% and a net margin of 13.19%. General Mills’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 earnings per share. Equities analysts anticipate that General Mills will post 3.07 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Rehmann Capital Advisory Group raised its position in General Mills by 16.9% during the third quarter. Rehmann Capital Advisory Group now owns 3,261 shares of the company’s stock valued at $140,000 after buying an additional 471 shares during the period. Great Lakes Advisors LLC acquired a new position in General Mills during the third quarter valued at $1,049,000. Carnegie Capital Asset Management LLC raised its position in General Mills by 44.8% during the third quarter. Carnegie Capital Asset Management LLC now owns 54,272 shares of the company’s stock valued at $2,406,000 after buying an additional 16,796 shares during the period. Belpointe Asset Management LLC acquired a new position in General Mills during the third quarter valued at $200,000. Finally, Morgan Stanley raised its position in General Mills by 6.6% during the third quarter. Morgan Stanley now owns 5,688,684 shares of the company’s stock valued at $244,156,000 after buying an additional 354,443 shares during the period. 68.67% of the stock is currently owned by hedge funds and other institutional investors.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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