General Mills (GIS) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of General Mills (NYSE:GIS) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “General Mills' shares have underperformed the industry so far this year. Slowing organic volumes are overshadowing minor improvements in profit margins. Earnings estimates for the current quarter have moved north while that for the current year have remained unchanged, over the last seven days, ahead of the earnings release. Sales and profits at the company’s North America Retail segment, contributing 65% to its sales, have been soft. The North American food industry has seen sluggish growth and slowdown in consumption over the last few quarters owing to changes in consumer preference. That said, General Mills' consumer-focused innovation, marketing initiatives and robust restructuring savings are making up for the sluggish revenue growth. The company is currently pursuing several initiatives focused on improving operational efficiency to generate cost savings and support its key growth strategies.”
A number of other equities research analysts have also issued reports on GIS. Susquehanna Bancshares set a $60.00 price target on General Mills and gave the company a hold rating in a research report on Tuesday. Wells Fargo & Company upgraded General Mills from a market perform rating to an outperform rating and set a $63.00 price target on the stock in a research note on Monday. Societe Generale upgraded General Mills from a sell rating to a hold rating in a research note on Wednesday, November 8th. Royal Bank of Canada set a $58.00 target price on General Mills and gave the company a hold rating in a research note on Monday, October 23rd. Finally, Jefferies Group assumed coverage on General Mills in a research note on Friday, October 20th. They issued a hold rating and a $56.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. General Mills has an average rating of Hold and a consensus target price of $57.38.
General Mills (NYSE:GIS) last issued its earnings results on Monday, December 18th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.03). The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. research analysts predict that General Mills will post 3.1 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lenox Wealth Advisors Inc. boosted its position in shares of General Mills by 0.8% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after acquiring an additional 15 shares in the last quarter. Cable Hill Partners LLC lifted its stake in General Mills by 274.5% in the 3rd 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 during the last quarter. Grove Bank & Trust lifted its stake in General Mills by 322.7% in the 3rd 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 during the last quarter. Tradewinds Capital Management LLC lifted its stake in General Mills by 127.3% in the 3rd quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after purchasing an additional 1,459 shares during the last quarter. Finally, Spectrum Management Group Inc. bought a new position in shares of General Mills during the third quarter valued at $135,000. 72.62% of the stock is owned by hedge funds and other institutional investors.
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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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