General Mills (NYSE:GIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, December 19th.
According to Zacks, “General Mills' shares have underperformed the industry so far this year. Slowing organic volumes are overshadowing minor improvements in profit margins. Earnings estimates for the current quarter have moved north while that for the current year have remained unchanged, over the last seven days, ahead of the earnings release. Sales and profits at the company’s North America Retail segment, contributing 65% to its sales, have been soft. The North American food industry has seen sluggish growth and slowdown in consumption over the last few quarters owing to changes in consumer preference. That said, General Mills' consumer-focused innovation, marketing initiatives and robust restructuring savings are making up for the sluggish revenue growth. The company is currently pursuing several initiatives focused on improving operational efficiency to generate cost savings and support its key growth strategies.”
Several other equities analysts have also recently issued reports on the company. Susquehanna Bancshares set a $60.00 price objective on General Mills and gave the company a “hold” rating in a report on Tuesday, December 19th. Wells Fargo & Co raised General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a report on Monday, December 18th. Societe Generale raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Royal Bank of Canada set a $58.00 price objective on General Mills and gave the company a “hold” rating in a report on Monday, October 23rd. Finally, Jefferies Group initiated coverage on General Mills in a report on Friday, October 20th. They issued a “hold” rating and a $56.00 price target for the company. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. General Mills has a consensus rating of “Hold” and a consensus target price of $58.17.
Shares of General Mills (GIS) traded down $0.54 during trading hours on Tuesday, hitting $58.09. The stock had a trading volume of 2,878,400 shares, compared to its average volume of 4,210,000. General Mills has a twelve month low of $49.65 and a twelve month high of $63.73. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53. The stock has a market cap of $33,060.00, a P/E ratio of 21.28, a PEG ratio of 2.64 and a beta of 0.66.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. sell-side analysts forecast that General Mills will post 3.12 EPS for the current fiscal year.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is available through this link. 1.40% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Lenox Wealth Advisors Inc. grew its position in shares of General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares in the last quarter. Cable Hill Partners LLC grew its position in shares of General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares in the last quarter. Grove Bank & Trust grew its position in shares of General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after purchasing an additional 1,878 shares in the last quarter. Tradewinds Capital Management LLC grew its position in shares of General Mills by 127.3% in the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Spectrum Management Group Inc. purchased a new stake in shares of General Mills in the third quarter valued at approximately $135,000. Institutional investors own 72.59% 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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