General Mills (NYSE:GIS) was upgraded by Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research report issued on Monday, December 18th, MarketBeat reports. The brokerage presently has a $63.00 price objective on the stock. Wells Fargo & Co’s target price suggests a potential upside of 8.90% from the company’s previous close.
A number of other research firms have also weighed in on GIS. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Susquehanna Bancshares reissued a “hold” rating and issued a $58.00 target price on shares of General Mills in a report on Tuesday, September 19th. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a report on Friday, September 8th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $62.00 target price on shares of General Mills in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.17.
Shares of General Mills (NYSE GIS) traded down $0.24 during trading hours on Monday, hitting $57.85. The stock had a trading volume of 2,553,096 shares, compared to its average volume of 4,180,000. General Mills has a 12-month low of $49.65 and a 12-month high of $63.73. The company has a market cap of $32,920.00, a price-to-earnings ratio of 21.19, a P/E/G ratio of 2.56 and a beta of 0.66. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. analysts forecast that General Mills will post 3.12 earnings per share for the current fiscal year.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,143,686.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of GIS. Cornerstone Wealth Management LLC bought a new stake in shares of General Mills in the first quarter worth about $275,000. RFG Advisory Group LLC bought a new stake in General Mills during the first quarter worth approximately $297,000. Opus Investment Management Inc. increased its stake in General Mills by 11.3% during the first quarter. Opus Investment Management Inc. now owns 98,700 shares of the company’s stock worth $5,824,000 after acquiring an additional 10,000 shares during the last quarter. Ngam Advisors L.P. increased its stake in General Mills by 15.5% during the first quarter. Ngam Advisors L.P. now owns 20,405 shares of the company’s stock worth $1,204,000 after acquiring an additional 2,732 shares during the last quarter. Finally, Financial Counselors Inc. increased its stake in General Mills by 25.8% during the first quarter. Financial Counselors Inc. now owns 133,474 shares of the company’s stock worth $7,876,000 after acquiring an additional 27,345 shares during the last quarter. 72.59% of the stock is currently owned by hedge funds and other institutional investors.
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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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