General Mills Inc. (NYSE:GIS)‘s stock had its “hold” rating reissued by equities research analysts at Credit Suisse Group AG in a report issued on Thursday. They presently have a $68.00 price target on the stock. Credit Suisse Group AG’s price target indicates a potential upside of 5.18% from the stock’s previous close.
GIS has been the topic of several other research reports. Bank of America Corp. reiterated a “hold” rating on shares of General Mills in a research report on Thursday, July 14th. Goldman Sachs Group Inc. restated a “sell” rating and issued a $61.00 price target (up previously from $60.00) on shares of General Mills in a research report on Friday, July 15th. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Deutsche Bank AG restated a “hold” rating and issued a $67.00 price target on shares of General Mills in a research report on Wednesday, September 14th. Finally, Royal Bank Of Canada boosted their price target on shares of General Mills from $70.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, June 30th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.12.
General Mills (NYSE:GIS) opened at 64.65 on Thursday. The company has a market capitalization of $38.44 billion, a price-to-earnings ratio of 23.51 and a beta of 0.38. General Mills has a one year low of $53.53 and a one year high of $72.95. The firm has a 50-day moving average of $68.98 and a 200 day moving average of $66.09.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. The firm had revenue of $3.91 billion for the quarter. General Mills had a net margin of 10.25% and a return on equity of 33.96%. The company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. Equities research analysts predict that General Mills will post $3.10 earnings per share for the current fiscal year.
In other General Mills news, insider John R. Church sold 99,373 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $71.17, for a total value of $7,072,376.41. Following the completion of the transaction, the insider now directly owns 108,311 shares in the company, valued at $7,708,493.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jerald A. Young sold 27,890 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $72.03, for a total transaction of $2,008,916.70. Following the completion of the transaction, the vice president now owns 86,271 shares of the company’s stock, valued at $6,214,100.13. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in GIS. Benjamin F. Edwards & Company Inc. increased its position in shares of General Mills by 0.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45,202 shares of the company’s stock worth $2,864,000 after buying an additional 348 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in shares of General Mills by 18.6% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 399,646 shares of the company’s stock worth $22,268,000 after buying an additional 62,692 shares in the last quarter. Berkshire Asset Management LLC PA increased its position in shares of General Mills by 2.7% in the first quarter. Berkshire Asset Management LLC PA now owns 307,798 shares of the company’s stock worth $19,499,000 after buying an additional 7,951 shares in the last quarter. TNB Financial increased its position in shares of General Mills by 6.9% in the first quarter. TNB Financial now owns 12,363 shares of the company’s stock worth $783,000 after buying an additional 793 shares in the last quarter. Finally, Culbertson A N & Co. Inc. purchased a new position in shares of General Mills during the first quarter worth approximately $2,829,000. Institutional investors and hedge funds own 69.13% of the company’s stock.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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