General Mills, Inc. (NYSE:GIS - Get Free Report) has received a consensus recommendation of "Hold" from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $64.69.
A number of analysts have recently weighed in on the stock. Piper Sandler cut their price objective on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. Wells Fargo & Company cut their price objective on shares of General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Barclays cut their price objective on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 18th. Morgan Stanley began coverage on shares of General Mills in a research report on Monday, March 24th. They set an "underweight" rating and a $53.00 price target on the stock. Finally, Bank of America dropped their price target on shares of General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th.
Read Our Latest Stock Report on GIS
General Mills Stock Performance
Shares of NYSE GIS traded up $0.07 during midday trading on Friday, reaching $53.41. The company had a trading volume of 3,804,514 shares, compared to its average volume of 4,532,123. The business's 50-day simple moving average is $56.81 and its 200 day simple moving average is $60.37. The stock has a market cap of $29.44 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.94 and a beta of 0.05. General Mills has a 1 year low of $52.39 and a 1 year high of $75.90. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.
General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, analysts forecast that General Mills will post 4.36 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company's stock.
Hedge Funds Weigh In On General Mills
Hedge funds and other institutional investors have recently modified their holdings of the business. Gladstone Institutional Advisory LLC lifted its stake in shares of General Mills by 6.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock worth $304,000 after buying an additional 268 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of General Mills by 11.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company's stock worth $53,211,000 after buying an additional 85,612 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock worth $421,552,000 after buying an additional 2,926,232 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of General Mills by 10.6% in the fourth quarter. Franklin Resources Inc. now owns 484,550 shares of the company's stock worth $30,900,000 after buying an additional 46,536 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock worth $581,903,000 after buying an additional 2,341,137 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.
General Mills Company Profile
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Get Free ReportGeneral Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, 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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.
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