JPMorgan Chase & Co. Issues Pessimistic Forecast for General Mills (NYSE:GIS) Stock Price

General Mills (NYSE:GIS) had its price target cut by stock analysts at JPMorgan Chase & Co. from $42.00 to $36.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 2.79% from the stock’s previous close.

GIS has been the topic of a number of other reports. Zacks Research lowered shares of General Mills from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Sanford C. Bernstein decreased their price target on General Mills from $53.00 to $48.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 18th. Royal Bank Of Canada dropped their price target on General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday. Stifel Nicolaus cut their price objective on General Mills from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday. Finally, TD Cowen reduced their price objective on General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Reduce” and a consensus target price of $44.61.

General Mills Stock Performance

Shares of NYSE:GIS opened at $37.04 on Thursday. The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of 9.06 and a beta of -0.05. The business’s fifty day moving average price is $44.38 and its two-hundred day moving average price is $46.65. General Mills has a fifty-two week low of $37.01 and a fifty-two week high of $62.61. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.39.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the business posted $1.12 earnings per share. The firm’s revenue was down 8.4% compared to the same quarter last year. As a group, analysts predict that General Mills will post 4.36 EPS for the current fiscal year.

Hedge Funds Weigh In On General Mills

Large investors have recently bought and sold shares of the stock. Avantax Advisory Services Inc. increased its position in General Mills by 7.7% during the 2nd quarter. Avantax Advisory Services Inc. now owns 61,444 shares of the company’s stock worth $3,183,000 after purchasing an additional 4,390 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in General Mills by 3.5% in the second quarter. Kingsview Wealth Management LLC now owns 11,519 shares of the company’s stock valued at $597,000 after buying an additional 385 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of General Mills by 3.5% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 216,599 shares of the company’s stock valued at $11,222,000 after buying an additional 7,241 shares during the last quarter. Vanguard Group Inc. increased its position in General Mills by 0.8% in the second quarter. Vanguard Group Inc. now owns 69,346,225 shares of the company’s stock worth $3,592,828,000 after buying an additional 581,045 shares during the period. Finally, Traub Capital Management LLC acquired a new position in shares of General Mills during the second quarter worth approximately $46,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills News Roundup

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: Piper Sandler reaffirmed its buy/overweight stance on GIS (despite trimming its target earlier), signaling continued broker support for the turnaround thesis. Piper Sandler Reaffirms Their Buy Rating on General Mills (GIS)
• Positive Sentiment: RBC Capital reaffirmed its buy/outperform view on GIS, providing another vote of confidence from a large broker. RBC Capital Keeps Their Buy Rating on General Mills (GIS)
• Positive Sentiment: Diamond Hill Capital’s Mid-Cap strategy disclosed a new position in General Mills in Q4, indicating some institutional accumulation at these levels. Diamond Hill Mid Cap Strategy Initiated a Position in General Mills (GIS) in Q4
• Neutral Sentiment: Jefferies reaffirmed a hold rating, reflecting a wait-and-see view: management’s recovery plan is being acknowledged but not yet rewarded by all analysts. Jefferies Reaffirms Their Hold Rating on General Mills (GIS)
• Neutral Sentiment: Management highlighted product innovation (more protein/fiber SKUs like Cheerios Protein) and portfolio reshaping (Brazil unit sale) as recovery levers; these are strategic positives but will take time to materially reverse top-line/margin trends. General Mills Bets on Protein and Fiber to Win Back Consumers
• Negative Sentiment: Q3 results missed on EPS and showed an 8.4% YoY revenue decline; analysts flagged a tough consumer environment and lowered near-term forecasts. General Mills’ FQ3 miss highlights tough consumer environment — analysts
• Negative Sentiment: Several brokers slashed price targets and/or lowered ratings after the print: UBS cut its target to $35 and kept a Sell; JPMorgan, UBS, Goldman, TD Cowen and others trimmed targets or moved to underweight/neutral — putting fresh downside risk and pressuring sentiment. General Mills price target lowered to $35 from $40 at UBS
• Negative Sentiment: Investor commentary (including Jim Cramer) and post-earnings notes highlight that management’s messaging and near-term guidance weren’t convincing, amplifying the sell-side cuts and heavy trading. Jim Cramer on General Mills: “Management Tried to Turn Minuses Into Pluses, But the Crowd Wasn’t Buying It”

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.