General Mills Inc. (GIS) Given a $65.00 Price Target at Credit Agricole SA
Other analysts also recently issued research reports about the company. Morgan Stanley reiterated a hold rating on shares of General Mills in a research note on Sunday, July 17th. Zacks Investment Research upgraded General Mills from a sell rating to a hold rating in a research note on Friday. Credit Suisse Group AG reiterated a hold rating and set a $68.00 price target on shares of General Mills in a research note on Thursday. Goldman Sachs Group Inc. reiterated a sell rating and set a $60.00 price target (up previously from $58.00) on shares of General Mills in a research note on Thursday, June 30th. Finally, Citigroup Inc. reiterated a buy rating and set a $76.00 price target (up previously from $72.00) on shares of General Mills in a research note on Wednesday, June 29th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $67.93.
Shares of General Mills (NYSE:GIS) traded down 0.284% during midday trading on Thursday, hitting $64.875. The stock had a trading volume of 1,540,448 shares. General Mills has a 12-month low of $53.53 and a 12-month high of $72.95. The firm has a 50-day moving average of $69.14 and a 200 day moving average of $66.05. The firm has a market cap of $38.57 billion, a PE ratio of 23.591 and a beta of 0.38.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share for the quarter, topping the 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 company had revenue of $3.91 billion for the quarter. During the same period in the previous year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. On average, analysts expect that General Mills will post $3.10 earnings per share for the current year.
In other news, COO Jeffrey L. Harmening sold 33,150 shares of the 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 completion of the transaction, the chief operating officer now directly owns 133,106 shares of the company’s stock, valued at approximately $9,457,181.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter C. Erickson sold 83,850 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $71.90, for a total value of $6,028,815.00. Following the completion of the transaction, the executive vice president now directly owns 213,669 shares of the company’s stock, valued at $15,362,801.10. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of GIS. Berkshire Asset Management LLC PA boosted its stake in General Mills by 2.7% in the first quarter. Berkshire Asset Management LLC PA now owns 307,798 shares of the company’s stock worth $19,499,000 after buying an additional 7,951 shares in the last quarter. TNB Financial boosted its stake in General Mills by 6.9% in the first quarter. TNB Financial now owns 12,363 shares of the company’s stock worth $783,000 after buying an additional 793 shares in the last quarter. Culbertson A N & Co. Inc. acquired a new stake in General Mills during the first quarter worth $2,829,000. Iberiabank Corp boosted its stake in General Mills by 1.3% in the first quarter. Iberiabank Corp now owns 6,629 shares of the company’s stock worth $420,000 after buying an additional 88 shares in the last quarter. Finally, Wagner Bowman Management Corp boosted its stake in General Mills by 0.3% in the first quarter. Wagner Bowman Management Corp now owns 10,308 shares of the company’s stock worth $653,000 after buying an additional 26 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.
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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