General Mills, Inc. (GIS) Rating Reiterated by Morgan Stanley
General Mills, Inc. (NYSE:GIS)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Morgan Stanley in a research report issued to clients and investors on Thursday. They currently have a $52.00 price target on the stock, down from their previous price target of $55.00. Morgan Stanley’s target price points to a potential upside of 1.50% from the stock’s previous close.
A number of other equities analysts also recently issued reports on the stock. Bank of America Corporation dropped their price objective on shares of General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Thursday. Royal Bank Of Canada dropped their price objective on shares of General Mills from $62.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Thursday. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $58.00 price objective on shares of General Mills in a research note on Tuesday. Finally, Consumer Edge upgraded shares of General Mills from a “sell” rating to a “neutral” rating in a research note on Friday, September 8th. Three 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. General Mills has an average rating of “Hold” and an average target price of $57.66.
Shares of General Mills (GIS) opened at 51.23 on Thursday. General Mills has a 12 month low of $51.06 and a 12 month high of $65.57. The stock has a 50 day moving average price of $55.75 and a 200-day moving average price of $56.75. The company has a market capitalization of $29.56 billion, a PE ratio of 18.49 and a beta of 0.62.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. General Mills’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts forecast that General Mills will post $3.09 EPS for the current year.
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Several large investors have recently bought and sold shares of GIS. Waldron LP acquired a new stake in shares of General Mills during the first quarter worth $420,000. Vigilant Capital Management LLC lifted its stake in shares of General Mills by 5.7% during the first quarter. Vigilant Capital Management LLC now owns 3,718 shares of the company’s stock worth $219,000 after buying an additional 200 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of General Mills by 10.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 49,395 shares of the company’s stock worth $2,914,000 after buying an additional 4,740 shares during the period. Bridge Creek Capital Management LLC lifted its stake in shares of General Mills by 3.2% during the first quarter. Bridge Creek Capital Management LLC now owns 63,059 shares of the company’s stock worth $3,721,000 after buying an additional 1,960 shares during the period. Finally, Arrow Financial Corp lifted its stake in shares of General Mills by 1.2% during the first quarter. Arrow Financial Corp now owns 48,961 shares of the company’s stock worth $2,889,000 after buying an additional 570 shares during the period. Institutional investors and hedge funds own 69.38% of the company’s stock.
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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