General Mills (NYSE:GIS) was upgraded by analysts at Piper Jaffray Companies from an “underweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, January 3rd, Marketbeat.com reports. The brokerage currently has a $63.00 price target on the stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 8.81% from the company’s current price.
A number of other research analysts have also issued reports on GIS. Edward Jones restated a “hold” rating on shares of General Mills in a research report on Wednesday, December 20th. Argus restated a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. Susquehanna Bancshares set a $56.00 price objective on General Mills and gave the company a “hold” rating in a research report on Tuesday, October 17th. BMO Capital Markets reiterated a “neutral” rating on shares of General Mills in a research report on Friday, December 22nd. Finally, Wells Fargo & Co reduced their price target on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research report on Friday, September 22nd. Two equities 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 company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.17.
Shares of General Mills (NYSE GIS) traded down $0.19 during midday trading on Wednesday, hitting $57.90. The stock had a trading volume of 1,680,000 shares, compared to its average volume of 4,180,000. General Mills has a 1-year low of $49.65 and a 1-year high of $63.73. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79. The company has a market cap of $32,950.00, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 2.64 and a beta of 0.66.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $0.85 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. research analysts forecast that General Mills will post 3.12 EPS for the current year.
In related news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Hexavest Inc. bought a new stake in General Mills during the 4th quarter valued at approximately $49,237,000. Nisa Investment Advisors LLC boosted its stake in General Mills by 7.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 265,307 shares of the company’s stock valued at $15,730,000 after purchasing an additional 18,845 shares during the period. Country Club Trust Company n.a. bought a new stake in General Mills during the 4th quarter valued at approximately $256,000. Sawyer & Company Inc bought a new stake in General Mills during the 4th quarter valued at approximately $376,000. Finally, Bright Rock Capital Management LLC boosted its stake in General Mills by 36.0% during the 4th quarter. Bright Rock Capital Management LLC now owns 42,150 shares of the company’s stock valued at $2,499,000 after purchasing an additional 11,150 shares during the period. Hedge funds and other 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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