General Mills Inc. (GIS) Lowered to “Underperform” at Consumer Edge
General Mills Inc. (NYSE:GIS) was downgraded by Consumer Edge from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday.
Other equities analysts have also issued research reports about the company. Morgan Stanley reissued a “hold” rating on shares of General Mills in a research note on Sunday, July 17th. Goldman Sachs Group Inc. reaffirmed a “sell” rating and set a $60.00 price target (up previously from $58.00) on shares of General Mills in a research note on Thursday, June 30th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Citigroup Inc. reaffirmed a “buy” rating and set a $76.00 price target (up previously from $72.00) on shares of General Mills in a research note on Wednesday, June 29th. Finally, Credit Agricole SA reaffirmed an “underperform” rating and set a $65.00 price target on shares of General Mills in a research note on Friday, July 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $67.40.
Shares of General Mills (NYSE:GIS) traded down 0.31% during trading on Tuesday, reaching $65.01. The company had a trading volume of 365,690 shares. General Mills has a 52-week low of $53.53 and a 52-week high of $72.95. The firm has a market capitalization of $38.81 billion, a P/E ratio of 23.47 and a beta of 0.38. The company has a 50 day moving average of $69.64 and a 200-day moving average of $66.03.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 29th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.86 billion. General Mills had a return on equity of 33.96% and a net margin of 10.25%. The business’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Equities analysts expect that General Mills will post $3.10 earnings per share for the current year.
In related news, VP Jerald A. Young sold 27,890 shares of the 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 directly owns 86,271 shares in the company, valued at $6,214,100.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter C. Erickson sold 83,850 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $71.90, for a total value of $6,028,815.00. Following the transaction, the executive vice president now owns 213,669 shares of the company’s stock, valued at $15,362,801.10. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GIS. CENTRAL TRUST Co purchased a new position in General Mills during the first quarter worth about $5,993,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in General Mills by 12.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,373 shares of the company’s stock worth $8,449,000 after buying an additional 14,238 shares during the last quarter. Capstone Asset Management Co. increased its position in General Mills by 33.7% in the first quarter. Capstone Asset Management Co. now owns 224,632 shares of the company’s stock worth $14,230,000 after buying an additional 56,570 shares during the last quarter. GaveKal Capital LLC increased its position in General Mills by 7.4% in the first quarter. GaveKal Capital LLC now owns 260,187 shares of the company’s stock worth $16,483,000 after buying an additional 17,885 shares during the last quarter. Finally, Wunderlich Securities Inc. increased its position in General Mills by 12.3% in the first quarter. Wunderlich Securities Inc. now owns 4,872 shares of the company’s stock worth $308,000 after buying an additional 533 shares during the last quarter. Institutional investors and hedge funds own 69.14% 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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