General Mills Inc. (GIS) Downgraded by Consumer Edge
A number of other equities research analysts have also commented on GIS. Goldman Sachs Group Inc. lowered General Mills from a neutral rating to a sell rating and decreased their price objective for the stock from $62.70 to $58.00 in a research report on Tuesday, May 24th. Bank of America Corp. restated a sell rating on shares of General Mills in a research report on Tuesday, May 24th. Royal Bank Of Canada restated an outperform rating and set a $70.00 price objective (up from $64.00) on shares of General Mills in a research report on Friday, June 17th. Deutsche Bank AG restated a hold rating and set a $63.00 price objective (up from $62.00) on shares of General Mills in a research report on Thursday, June 23rd. Finally, Zacks Investment Research upgraded General Mills from a hold rating to a buy rating and set a $75.00 price objective for the company in a research report on Friday, June 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $67.93.
General Mills (NYSE:GIS) opened at 65.06 on Tuesday. The firm has a 50-day moving average price of $69.14 and a 200-day moving average price of $66.05. General Mills has a 12-month low of $53.53 and a 12-month high of $72.95. The stock has a market cap of $38.84 billion, a PE ratio of 23.49 and a beta of 0.38.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The firm earned $3.91 billion during the quarter. During the same quarter in the previous year, the business posted $0.79 earnings per share. The company’s revenue was down 7.3% compared to the same quarter last year. Analysts forecast that General Mills will post $3.10 EPS for the current fiscal year.
In other news, Director Paul Danos sold 20,000 shares of General Mills stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $71.53, for a total transaction of $1,430,600.00. Following the sale, the director now owns 43,799 shares of the company’s stock, valued at approximately $3,132,942.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey L. Harmening sold 33,150 shares of General Mills stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $71.05, for a total value of $2,355,307.50. Following the sale, the chief operating officer now directly owns 133,106 shares in the company, valued at approximately $9,457,181.30. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co purchased a new stake in shares of General Mills during the first quarter valued at $5,993,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in General Mills by 12.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,373 shares of the company’s stock worth $8,449,000 after buying an additional 14,238 shares during the last quarter. Capstone Asset Management Co. increased its stake in General Mills by 33.7% in the first quarter. Capstone Asset Management Co. now owns 224,632 shares of the company’s stock worth $14,230,000 after buying an additional 56,570 shares during the last quarter. GaveKal Capital LLC increased its stake in General Mills by 7.4% in the first quarter. GaveKal Capital LLC now owns 260,187 shares of the company’s stock worth $16,483,000 after buying an additional 17,885 shares during the last quarter. Finally, Wunderlich Securities Inc. increased its stake in General Mills by 12.3% in the first quarter. Wunderlich Securities Inc. now owns 4,872 shares of the company’s stock worth $308,000 after buying an additional 533 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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