General Mills (NYSE:GIS) was upgraded by analysts at Societe Generale from a “sell” rating to a “hold” rating in a report issued on Thursday. The brokerage presently has a $48.00 price target on the stock. Societe Generale’s price target suggests a potential upside of 8.57% from the company’s previous close.
A number of other analysts have also commented on GIS. BMO Capital Markets reduced their target price on General Mills from $60.00 to $51.00 and set a “market perform” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their target price on General Mills from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, March 14th. Gabelli lowered General Mills from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Zacks Investment Research downgraded General Mills from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Finally, Jefferies Group restated a “buy” rating and issued a $63.00 price target on shares of General Mills in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. General Mills currently has an average rating of “Hold” and a consensus price target of $54.32.
Shares of General Mills stock opened at $44.21 on Thursday. The company has a market capitalization of $25,294.00, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. General Mills has a fifty-two week low of $44.15 and a fifty-two week high of $60.69. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.34.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 21st. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.87 billion. General Mills had a return on equity of 37.64% and a net margin of 13.96%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. sell-side analysts expect that General Mills will post 3.11 earnings per share for the current year.
General Mills declared that its board has authorized a stock buyback plan on Friday, February 23rd that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, insider Bethany C. Quam sold 8,712 shares of General Mills 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 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 through the SEC website. 1.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIS. Avestar Capital LLC purchased a new position in General Mills during the fourth quarter valued at $100,000. Cable Hill Partners LLC lifted its position in General Mills by 274.5% during 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 in the last quarter. Truewealth LLC purchased a new position in General Mills during the fourth quarter valued at $119,000. Grove Bank & Trust lifted its position in General Mills by 322.7% during 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 in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in shares of General Mills in the fourth quarter valued at about $131,000. Institutional investors own 74.20% 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 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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