General Mills (NYSE:GIS – Get Rating) had its target price lifted by research analysts at Morgan Stanley from $56.00 to $66.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target indicates a potential downside of 12.34% from the company’s current price.
Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of General Mills from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, March 22nd. UBS Group assumed coverage on shares of General Mills in a report on Wednesday, March 30th. They issued a “neutral” rating and a $69.00 target price for the company. Piper Sandler lifted their price objective on shares of General Mills from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup lifted their price objective on shares of General Mills from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of General Mills from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $72.55.
Shares of GIS stock traded down $0.16 on Friday, reaching $75.29. The company’s stock had a trading volume of 35,303 shares, compared to its average volume of 3,840,217. The stock’s fifty day simple moving average is $69.84 and its 200-day simple moving average is $68.36. General Mills has a 1 year low of $56.67 and a 1 year high of $75.74. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $45.34 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.37 and a beta of 0.45.
General Mills (NYSE:GIS – Get Rating) last posted its earnings results on Wednesday, June 29th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. General Mills had a net margin of 12.36% and a return on equity of 23.10%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the firm posted $0.91 earnings per share. General Mills’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts forecast that General Mills will post 3.83 earnings per share for the current year.
In other General Mills news, insider Shawn P. Ogrady sold 43,565 shares of the business’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $71.90, for a total value of $3,132,323.50. Following the completion of the transaction, the insider now directly owns 87,554 shares in the company, valued at $6,295,132.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn P. Ogrady sold 27,157 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $69.50, for a total transaction of $1,887,411.50. Following the completion of the transaction, the insider now owns 87,554 shares of the company’s stock, valued at $6,085,003. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Clearview Wealth Advisors LLC boosted its position in General Mills by 2.2% in the 1st quarter. Clearview Wealth Advisors LLC now owns 6,465 shares of the company’s stock worth $438,000 after purchasing an additional 142 shares in the last quarter. Prospera Financial Services Inc raised its stake in General Mills by 1.5% in the 1st quarter. Prospera Financial Services Inc now owns 9,699 shares of the company’s stock valued at $657,000 after purchasing an additional 142 shares during the last quarter. Wealth Alliance increased its stake in shares of General Mills by 1.9% in the 1st quarter. Wealth Alliance now owns 7,794 shares of the company’s stock worth $528,000 after acquiring an additional 142 shares during the last quarter. Camden Capital LLC increased its stake in shares of General Mills by 4.2% in the 1st quarter. Camden Capital LLC now owns 3,608 shares of the company’s stock worth $244,000 after acquiring an additional 145 shares during the last quarter. Finally, BLB&B Advisors LLC increased its stake in shares of General Mills by 2.3% in the 1st quarter. BLB&B Advisors LLC now owns 6,545 shares of the company’s stock worth $443,000 after acquiring an additional 146 shares during the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.
General Mills Company Profile (Get Rating)
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, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.