General Mills (NYSE:GIS) had its price objective decreased by analysts at Credit Suisse Group from $62.00 to $58.00 in a note issued to investors on Wednesday. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price target would indicate a potential upside of 3.74% from the stock’s previous close.
Several other brokerages have also issued reports on GIS. Argus restated a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. BMO Capital Markets restated a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Susquehanna Bancshares set a $61.00 target price on General Mills and gave the company a “hold” rating in a research note on Friday, January 5th. Piper Jaffray Companies upgraded General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price on the stock in a research note on Wednesday, January 3rd. Finally, Wells Fargo & Co set a $65.00 target price on General Mills and gave the company a “buy” rating in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.86.
Shares of General Mills (GIS) traded down $0.04 during trading hours on Wednesday, hitting $55.91. The company had a trading volume of 399,510 shares, compared to its average volume of 3,267,668. The stock has a market capitalization of $32,111.14, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81. General Mills has a one year low of $49.65 and a one year high of $61.38.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. analysts anticipate that General Mills will post 3.13 earnings per share for the current year.
In related news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the sale, the insider now directly owns 36,089 shares in the company, valued at approximately $2,143,686.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its holdings in shares of General Mills by 1,708.4% in the 3rd quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after purchasing an additional 8,528,534 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in General Mills by 3,178.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock valued at $144,666,000 after acquiring an additional 2,531,664 shares during the period. Stifel Financial Corp boosted its holdings in General Mills by 28,570.2% during the 3rd quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock valued at $86,610,000 after acquiring an additional 1,665,641 shares during the period. American Century Companies Inc. boosted its holdings in General Mills by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after acquiring an additional 1,550,074 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in General Mills by 13.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock valued at $503,923,000 after acquiring an additional 1,009,126 shares during the period. Institutional investors own 72.89% of the company’s stock.
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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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