General Mills (NYSE:GIS) Sets New 12-Month Low – Here’s What Happened

General Mills, Inc. (NYSE:GIS) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $33.58 and last traded at $34.1470, with a volume of 2396836 shares trading hands. The stock had previously closed at $34.43.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank Of Canada cut their price target on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Evercore set a $45.00 target price on shares of General Mills in a report on Wednesday, February 18th. The Goldman Sachs Group lowered their price target on General Mills from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. BTIG Research assumed coverage on General Mills in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, UBS Group reduced their target price on shares of General Mills from $40.00 to $35.00 and set a “sell” rating for the company in a research note on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, General Mills currently has an average rating of “Reduce” and an average price target of $43.22.

General Mills Stock Up 1.9%

The firm’s 50-day simple moving average is $37.97 and its two-hundred day simple moving average is $43.48. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 8.74 and a beta of -0.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the company earned $1.12 EPS. The business’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts predict that General Mills, Inc. will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GIS. State Street Corp raised its holdings in shares of General Mills by 0.4% in the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after acquiring an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after purchasing an additional 488,617 shares in the last quarter. Geode Capital Management LLC increased its position in General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares in the last quarter. Nordea Investment Management AB raised its stake in General Mills by 15.9% in the 3rd quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock valued at $494,548,000 after purchasing an additional 1,368,041 shares during the last quarter. Finally, Morgan Stanley raised its stake in General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after purchasing an additional 200,043 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.