General Mills, Inc. (NYSE:GIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $62.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.11% from the company’s current price.

According to Zacks, “General Mills' consumer-focused innovation, marketing initiatives and robust restructuring savings are making up for the sluggish revenue growth. The company is currently pursuing several initiatives focused on improving operational efficiency to generate cost savings and support its key growth strategies. By fiscal 2018, the company expects to achieve cost savings through increased efficiency, reduced complexity through SKU optimization, further supply chain optimization and continued expansion of zero-based budgeting across the business, which will result in accelerated margin expansion. It is on track to achieve its cost savings target for fiscal 2018 as it forges ahead with its margin expansion efforts. However, General Mills' shares have underperformed the industry so far this year. Slowing organic volumes are overshadowing minor improvements in profit margins.”

A number of other equities analysts have also commented on GIS. Credit Suisse Group reaffirmed a “neutral” rating and issued a $56.00 price objective (down from $65.00) on shares of General Mills in a research note on Friday, May 19th. Piper Jaffray Companies started coverage on General Mills in a report on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 target price for the company. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $59.00 target price (down from $62.00) on shares of General Mills in a report on Tuesday, May 30th. BMO Capital Markets reiterated a “hold” rating and issued a $67.00 target price on shares of General Mills in a report on Thursday, June 15th. Finally, BidaskClub upgraded General Mills from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. General Mills has an average rating of “Hold” and a consensus price target of $59.11.

Shares of General Mills (NYSE:GIS) opened at 55.80 on Friday. General Mills has a 52 week low of $52.76 and a 52 week high of $65.57. The stock has a 50 day moving average price of $55.73 and a 200-day moving average price of $56.87. The company has a market capitalization of $32.20 billion, a PE ratio of 20.14 and a beta of 0.62.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $0.66 earnings per share. Equities research analysts expect that General Mills will post $3.11 EPS for the current year.

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A number of institutional investors have recently made changes to their positions in GIS. Lenox Wealth Advisors Inc. grew its holdings in General Mills by 0.8% during the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after buying an additional 15 shares in the last quarter. Winslow Evans & Crocker Inc. grew its holdings in General Mills by 2.9% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after buying an additional 69 shares in the last quarter. Hanson McClain Inc. grew its holdings in General Mills by 1.5% during the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares in the last quarter. IHT Wealth Management LLC grew its holdings in General Mills by 33.4% during the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock worth $146,000 after buying an additional 627 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in General Mills by 11.2% during the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares in the last quarter. Institutional investors and hedge funds own 69.49% 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 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.

Analyst Recommendations for General Mills (NYSE:GIS)

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