General Mills (NYSE:GIS) Given New $49.00 Price Target at UBS Group

General Mills (NYSE:GIS) had its price objective dropped by equities researchers at UBS Group from $52.00 to $49.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. UBS Group’s price target indicates a potential downside of 2.99% from the stock’s previous close.

A number of other research firms also recently issued reports on GIS. Jefferies Financial Group lifted their price objective on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Bank of America cut their price objective on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday. Barclays cut their price objective on shares of General Mills from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday. The Goldman Sachs Group downgraded shares of General Mills from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $51.00 price objective (down from $53.00) on shares of General Mills in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.50.

General Mills Stock Performance

NYSE GIS opened at $50.51 on Thursday. The company has a fifty day simple moving average of $54.34 and a 200 day simple moving average of $58.36. General Mills has a 12-month low of $50.19 and a 12-month high of $75.90. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.38. The company has a market cap of $27.84 billion, a P/E ratio of 12.32, a PEG ratio of 1.26 and a beta of 0.02.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter last year, the firm posted $1.01 EPS. General Mills’s revenue was down 3.3% compared to the same quarter last year. Sell-side analysts predict that General Mills will post 4.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Mills

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CBIZ Investment Advisory Services LLC purchased a new position in shares of General Mills in the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Mills in the 4th quarter worth about $31,000. Perkins Coie Trust Co boosted its holdings in shares of General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after buying an additional 211 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of General Mills in the 4th quarter worth about $32,000. Finally, Transce3nd LLC purchased a new position in shares of General Mills in the 4th quarter worth about $32,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.