Credit Suisse Group reiterated their hold rating on shares of General Mills (NYSE:GIS) in a report published on Thursday morning, AnalystRatings.com reports. They currently have a $56.00 price objective on the stock.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded General Mills from a hold rating to a buy rating and set a $58.00 price target on the stock in a research note on Thursday, August 22nd. Goldman Sachs Group downgraded General Mills from a neutral rating to a sell rating and set a $41.00 target price on the stock. in a research note on Tuesday, May 28th. UBS Group upped their target price on General Mills from $48.00 to $52.00 and gave the stock a neutral rating in a research note on Thursday, June 27th. Evercore ISI initiated coverage on General Mills in a research note on Tuesday, June 11th. They issued an in-line rating and a $56.00 target price on the stock. Finally, Morgan Stanley upped their target price on General Mills from $49.00 to $52.00 and gave the stock an equal weight rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. General Mills presently has an average rating of Hold and a consensus target price of $53.21.
General Mills stock opened at $53.97 on Thursday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.37 and a current ratio of 0.59. The business’s 50-day simple moving average is $54.00 and its two-hundred day simple moving average is $51.89. The company has a market cap of $32.64 billion, a PE ratio of 16.76, a PEG ratio of 2.29 and a beta of 0.74. General Mills has a fifty-two week low of $36.42 and a fifty-two week high of $56.40.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, analysts predict that General Mills will post 3.37 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIS. BlackRock Inc. raised its holdings in General Mills by 15.8% in the 2nd quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock worth $2,515,202,000 after purchasing an additional 6,544,997 shares during the period. Nuveen Asset Management LLC raised its holdings in General Mills by 24,698.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,637,916 shares of the company’s stock worth $191,063,000 after purchasing an additional 3,623,246 shares during the period. Iridian Asset Management LLC CT acquired a new position in General Mills in the 2nd quarter worth about $106,946,000. FMR LLC raised its holdings in General Mills by 92.9% in the 1st quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after purchasing an additional 1,652,275 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in General Mills by 44.6% in the 2nd quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock worth $279,085,000 after purchasing an additional 1,639,900 shares during the period. 68.74% of the stock is owned by institutional investors.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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