General Mills, Inc. (GIS) Given Sell Rating at Piper Jaffray Companies
Several other research analysts have also recently issued reports on the company. BMO Capital Markets dropped their target price on General Mills from $60.00 to $57.00 and set a market perform rating on the stock in a research report on Thursday. UBS AG reaffirmed a neutral rating and issued a $55.00 price objective (down previously from $58.00) on shares of General Mills in a research note on Thursday. Citigroup Inc. reaffirmed a buy rating and issued a $67.00 price objective on shares of General Mills in a research note on Thursday. Morgan Stanley reaffirmed an equal weight rating and issued a $52.00 price objective (down previously from $55.00) on shares of General Mills in a research note on Thursday. Finally, Bank of America Corporation decreased their price objective on General Mills from $61.00 to $55.00 and set a neutral rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $58.04.
Shares of General Mills (NYSE GIS) traded down 1.16% during midday trading on Thursday, hitting $51.09. The stock had a trading volume of 3,151,649 shares. The firm has a market cap of $29.48 billion, a price-to-earnings ratio of 18.44 and a beta of 0.62. The stock’s 50 day moving average price is $55.75 and its 200 day moving average price is $56.75. General Mills has a 12 month low of $51.06 and a 12 month high of $65.57.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. On average, equities analysts forecast that General Mills will post $3.09 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the business. Lenox Wealth Advisors Inc. increased its stake in General Mills by 0.8% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after acquiring an additional 15 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in General Mills by 2.9% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after acquiring an additional 69 shares during the last quarter. Hanson McClain Inc. increased its stake in General Mills by 1.5% in the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after acquiring an additional 35 shares during the last quarter. IHT Wealth Management LLC increased its stake in General Mills by 33.4% in the 1st quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock worth $146,000 after acquiring an additional 627 shares during the last quarter. Finally, Assetmark Inc. increased its stake in General Mills by 11.2% in the 1st quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after acquiring an additional 253 shares during the last quarter. 69.38% of the stock is currently owned by institutional investors and hedge funds.
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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