General Mills’ (GIS) “Underweight” Rating Reaffirmed at Morgan Stanley

General Mills (NYSE:GIS)‘s stock had its “underweight” rating reissued by investment analysts at Morgan Stanley in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $51.00 target price on the stock, down from their prior target price of $53.00. Morgan Stanley’s target price would suggest a potential upside of 0.51% from the stock’s previous close.

GIS has been the topic of several other reports. Jefferies Financial Group lifted their price target 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. Mizuho cut their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Bank of America cut their price target on General Mills from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, June 18th. Finally, Piper Sandler decreased their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.94.

General Mills Stock Performance

NYSE GIS opened at $50.74 on Tuesday. The business’s 50 day moving average price is $54.62 and its 200-day moving average price is $58.57. General Mills has a fifty-two week low of $50.66 and a fifty-two week high of $75.90. The company has a market cap of $27.97 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.27 and a beta of 0.02. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.44 and a current ratio of 0.67.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. General Mills had a net margin of 13.02% and a return on equity of 26.39%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share. Sell-side analysts predict that General Mills will post 4.36 earnings per share for the current year.

Institutional Investors Weigh In On General Mills

Large investors have recently bought and sold shares of the company. TCW Group Inc. grew its holdings in shares of General Mills by 0.8% during the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock worth $1,471,000 after buying an additional 194 shares in the last quarter. Wealthspire Advisors LLC grew its position in shares of General Mills by 6.5% in the fourth quarter. Wealthspire Advisors LLC now owns 14,837 shares of the company’s stock valued at $946,000 after purchasing an additional 910 shares in the last quarter. Howard Capital Management Inc. increased its holdings in shares of General Mills by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 3,916 shares of the company’s stock valued at $250,000 after purchasing an additional 198 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in General Mills by 111.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 34,721 shares of the company’s stock worth $2,214,000 after buying an additional 18,289 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in General Mills by 150.2% during the fourth quarter. Capital Advisors Ltd. LLC now owns 653 shares of the company’s stock worth $42,000 after buying an additional 392 shares during the last quarter. 75.71% 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 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.