Consumer Edge downgraded shares of General Mills Inc. (NYSE:GIS) from a neutral rating to an underperform rating in a research report released on Tuesday morning.

A number of other equities analysts have also recently commented on GIS. Morgan Stanley reaffirmed a hold rating on shares of General Mills in a report on Sunday, July 17th. Royal Bank Of Canada lifted their target price on shares of General Mills from $70.00 to $73.00 and gave the company an outperform rating in a report on Thursday, June 30th. Citigroup Inc. reaffirmed a buy rating and issued a $76.00 target price (up from $72.00) on shares of General Mills in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reaffirmed a sell rating and issued a $60.00 target price (up from $58.00) on shares of General Mills in a report on Thursday, June 30th. Finally, Bank of America Corp. reaffirmed a sell rating on shares of General Mills in a report on Tuesday, May 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. General Mills currently has a consensus rating of Hold and an average price target of $67.93.

General Mills (NYSE:GIS) opened at 65.06 on Tuesday. The firm’s 50-day moving average is $69.14 and its 200 day moving average is $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 capitalization of $38.84 billion, a P/E ratio of 23.49 and a beta of 0.38.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $3.91 billion for the quarter. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The business’s revenue was down 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. Equities analysts expect that General Mills will post $3.10 EPS for the current year.

In other General Mills news, VP Jerald A. Young sold 27,890 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $72.03, for a total value of $2,008,916.70. Following the completion of the transaction, the vice president now owns 86,271 shares in the company, valued at approximately $6,214,100.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Rose sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $71.11, for a total value of $711,100.00. Following the completion of the transaction, the director now owns 79,954 shares of the company’s stock, valued at approximately $5,685,528.94. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in General Mills by 7.3% in the second quarter. Macquarie Group Ltd. now owns 347,763 shares of the company’s stock worth $24,803,000 after buying an additional 23,604 shares in the last quarter. Carnick & Kubik Group LLC bought a new position in General Mills during the second quarter worth $1,464,000. Williams Jones & Associates LLC boosted its position in General Mills by 279.9% in the second quarter. Williams Jones & Associates LLC now owns 184,937 shares of the company’s stock worth $13,190,000 after buying an additional 136,251 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in General Mills during the second quarter worth $1,712,000. Finally, Kentucky Retirement Systems bought a new position in General Mills during the second quarter worth $3,605,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

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.

5 Day Chart for NYSE:GIS

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