General Mills, Inc. (NYSE:GIS) Receives Consensus Rating of “Reduce” from Brokerages

General Mills, Inc. (NYSE:GIS) has been given an average rating of “Reduce” by the twenty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $39.3889.

A number of equities research analysts have recently weighed in on GIS shares. Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research note on Wednesday, June 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. Wells Fargo & Company cut their target price on shares of General Mills from $33.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday, May 18th. Mizuho cut their target price on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Finally, Morgan Stanley cut their target price on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 5th.

General Mills Trading Down 0.0%

Shares of GIS opened at $33.41 on Monday. The firm’s 50-day moving average price is $34.17 and its 200-day moving average price is $40.48. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of 8.17 and a beta of -0.03. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. General Mills has a 1-year low of $31.75 and a 1-year high of $54.18.

Insider Transactions at General Mills

In other news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider directly owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GIS. Marshall Wace LLP purchased a new position in General Mills during the 2nd quarter valued at about $9,188,000. Bank of Nova Scotia lifted its position in General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after acquiring an additional 2,552 shares during the period. WINTON GROUP Ltd raised its holdings in General Mills by 112.6% in the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after buying an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after buying an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC raised its holdings in General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after buying an additional 15,041 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

About General Mills

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.