Investors Buy Shares of General Mills, Inc. (GIS) on Weakness
Investors bought shares of General Mills, Inc. (NYSE:GIS) on weakness during trading hours 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 equities 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 several recent analyst reports. Royal Bank Of Canada set a $62.00 target price on shares of General Mills and gave the company a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Credit Suisse Group reiterated a “neutral” rating and set a $56.00 target price (down from $65.00) on shares of General Mills in a research report on Friday, May 19th. Morgan Stanley reiterated an “equal weight” rating and set a $55.00 target price (down from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $52.00 target price (down from $59.00) on shares of General Mills in a research report on Friday, June 30th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. General Mills currently has an average rating of “Hold” and an average price target of $59.52.
The stock has a market capitalization of $31.94 billion, a price-to-earnings ratio of 19.98 and a beta of 0.62. The company’s 50-day moving average is $55.64 and its 200 day moving average is $57.06.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. On average, equities research analysts forecast that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in GIS. Waldron LP acquired a new position in shares of General Mills in the first quarter valued at about $420,000. Glen Harbor Capital Management LLC grew its holdings in General Mills by 34.1% during the first quarter. Glen Harbor Capital Management LLC now owns 20,416 shares of the company’s stock worth $1,205,000 after acquiring an additional 5,192 shares during the period. Mycio Wealth Partners LLC acquired a new stake in General Mills during the first quarter worth about $243,000. Delta Asset Management LLC TN grew its holdings in General Mills by 4.6% during the first quarter. Delta Asset Management LLC TN now owns 304,001 shares of the company’s stock worth $17,939,000 after acquiring an additional 13,258 shares during the period. Finally, Court Place Advisors LLC grew its holdings in General Mills by 6.7% during the first quarter. Court Place Advisors LLC now owns 4,999 shares of the company’s stock worth $295,000 after acquiring an additional 314 shares during the period. 69.49% of the stock is currently owned by institutional investors and hedge funds.
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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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