Investors Buy Shares of General Mills, Inc. (GIS) on Weakness
Traders bought shares of General Mills, Inc. (NYSE:GIS) on weakness during trading on Thursday. $84.75 million flowed into the stock on the tick-up and $27.18 million flowed out of the stock on the tick-down, for a money net flow of $57.57 million into the stock. Of all companies tracked, General Mills had the 6th highest net in-flow for the day. General Mills traded down ($0.04) for the day and closed at $54.66
GIS has been the topic of a number of recent research reports. BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Susquehanna Bancshares Inc set a $59.00 price objective on General Mills and gave the stock a “hold” rating in a research report on Sunday, June 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $52.00 price objective (down previously from $59.00) on shares of General Mills in a research report on Friday, June 30th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $62.00 price objective on shares of General Mills in a research report on Wednesday. Finally, Stifel Nicolaus cut their price objective on General Mills from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, June 29th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. General Mills has an average rating of “Hold” and a consensus price target of $59.52.
The stock’s 50-day moving average is $55.59 and its 200-day moving average is $57.09. The company has a market capitalization of $31.54 billion, a P/E ratio of 19.73 and a beta of 0.62.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts forecast that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intl Fcstone Inc. increased its position in shares of General Mills by 158.7% in the 2nd quarter. Intl Fcstone Inc. now owns 32,228 shares of the company’s stock worth $1,785,000 after purchasing an additional 19,769 shares during the last quarter. M Holdings Securities Inc. bought a new stake in shares of General Mills in the 2nd quarter worth about $229,000. Gs Investments Inc. bought a new stake in shares of General Mills in the 2nd quarter worth about $1,783,000. Navellier & Associates Inc increased its position in shares of General Mills by 3.6% in the 2nd quarter. Navellier & Associates Inc now owns 24,404 shares of the company’s stock worth $1,352,000 after purchasing an additional 839 shares during the last quarter. Finally, RNC Capital Management LLC increased its position in shares of General Mills by 13,385.6% in the 2nd quarter. RNC Capital Management LLC now owns 558,709 shares of the company’s stock worth $30,952,000 after purchasing an additional 554,566 shares during the last quarter. 69.49% of the stock is owned by institutional investors.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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