Research analysts at Royal Bank of Canada started coverage on shares of General Mills (NYSE:GIS) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “sector perform” rating on the stock.
Several other research analysts have also recently weighed in on GIS. UBS Group increased their price target on shares of General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. Stifel Nicolaus raised their target price on shares of General Mills from $52.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. Piper Jaffray Companies raised their target price on shares of General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Edward Jones raised shares of General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $56.00 target price on shares of General Mills in a report on Thursday, September 12th. Two analysts have 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. The stock currently has an average rating of “Hold” and a consensus target price of $53.64.
General Mills stock opened at $52.65 on Thursday. The stock has a market cap of $32.64 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.29 and a beta of 0.73. The company has a quick ratio of 0.37, a current ratio of 0.62 and a debt-to-equity ratio of 1.51. General Mills has a twelve month low of $36.42 and a twelve month high of $56.40. The company’s 50-day moving average price is $54.22 and its two-hundred day moving average price is $52.92.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. Equities analysts anticipate that General Mills will post 3.37 earnings per share for the current fiscal year.
In related news, insider Jonathon Nudi sold 18,951 shares of General Mills stock in a transaction on Monday, October 14th. The shares were sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the completion of the transaction, the insider now owns 81,656 shares of the company’s stock, valued at $4,451,885.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kofi A. Bruce sold 15,582 shares of General Mills stock in a transaction on Friday, September 20th. The stock was sold at an average price of $54.33, for a total transaction of $846,570.06. Following the transaction, the insider now directly owns 35,487 shares of the company’s stock, valued at approximately $1,928,008.71. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP increased its position in shares of General Mills by 18.5% during the first quarter. First Trust Advisors LP now owns 1,773,638 shares of the company’s stock worth $91,786,000 after acquiring an additional 277,126 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of General Mills during the first quarter worth about $35,000. GYL Financial Synergies LLC bought a new stake in shares of General Mills during the first quarter worth about $210,000. Advisory Services Network LLC increased its position in shares of General Mills by 3.4% during the first quarter. Advisory Services Network LLC now owns 21,589 shares of the company’s stock worth $1,117,000 after acquiring an additional 715 shares in the last quarter. Finally, Horizon Investments LLC bought a new stake in shares of General Mills during the first quarter worth about $200,000. 68.73% of the stock is owned by institutional investors and hedge funds.
General Mills Company Profile
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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