General Mills (NYSE:GIS) had its target price cut by equities researchers at Morgan Stanley from $58.00 to $48.00 in a report issued on Thursday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 6.17% from the stock’s previous close.
Several other research firms have also recently commented 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 price target on General Mills and gave the stock 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 price target for the company in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group set a $60.00 price target on General Mills and gave the stock a “hold” rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. General Mills presently has an average rating of “Hold” and an average price target of $54.70.
Shares of General Mills stock traded down $0.30 during midday trading on Thursday, reaching $45.21. The company’s stock had a trading volume of 6,005,302 shares, compared to its average volume of 4,770,113. 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 $44.79 and a one year high of $60.69. The stock has a market capitalization of $28,412.36, a PE ratio of 16.53, a P/E/G ratio of 2.07 and a beta of 0.72.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. equities analysts predict that General Mills will post 3.17 EPS for the current year.
General Mills declared that its board has initiated a stock buyback program on Friday, February 23rd that allows the company to repurchase shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Avestar Capital LLC acquired a new stake in General Mills in the fourth quarter valued at $100,000. Cable Hill Partners LLC grew its holdings in 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 during the last quarter. Truewealth LLC acquired a new stake in General Mills in the fourth quarter valued at $119,000. Grove Bank & Trust grew its holdings in 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 during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in General Mills in the fourth quarter valued at $131,000. Hedge funds and other institutional investors own 74.20% of the company’s stock.
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General Mills Company Profile
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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