General Mills, Inc. (GIS) Reaches New 12-Month Low After Earnings Miss

General Mills, Inc. (NYSE:GIS) hit a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $52.20 and last traded at $52.17, with a volume of 10,554,444 shares trading hands. The stock had previously closed at $55.38.

The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.07). General Mills had a return on equity of 38.97% and a net margin of 10.61%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year.

Several brokerages have recently commented on GIS. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $58.00 price target on shares of General Mills in a research report on Tuesday. Zacks Investment Research cut shares of General Mills from a “buy” rating to a “hold” rating in a research report on Tuesday. Consumer Edge upgraded shares of General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $62.00 price target on shares of General Mills in a research report on Wednesday, September 6th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $60.00 price target on shares of General Mills in a research report on Wednesday, September 6th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.11.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bogart Wealth LLC lifted its stake in General Mills by 29.2% in the second quarter. Bogart Wealth LLC now owns 7,523 shares of the company’s stock valued at $417,000 after buying an additional 1,699 shares in the last quarter. Intl Fcstone Inc. lifted its stake in General Mills by 158.7% in the second quarter. Intl Fcstone Inc. now owns 32,228 shares of the company’s stock valued at $1,785,000 after buying an additional 19,769 shares in the last quarter. M Holdings Securities Inc. bought a new position in General Mills in the second quarter valued at approximately $229,000. Gs Investments Inc. bought a new position in General Mills in the second quarter valued at approximately $1,783,000. Finally, Navellier & Associates Inc lifted its stake in General Mills by 3.6% in the second quarter. Navellier & Associates Inc now owns 24,404 shares of the company’s stock valued at $1,352,000 after buying an additional 839 shares in the last quarter. 69.38% of the stock is currently owned by hedge funds and other institutional investors.

The firm’s 50-day moving average price is $55.75 and its 200 day moving average price is $56.75. The company has a market cap of $30.11 billion, a PE ratio of 18.83 and a beta of 0.62.

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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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