Investment analysts at Jefferies Group LLC began coverage on shares of General Mills, Inc. (NYSE:GIS) in a research report issued to clients and investors on Friday. The firm set a “hold” rating and a $56.00 price target on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 7.63% from the company’s current price.
A number of other brokerages have also recently weighed in on GIS. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Susquehanna Bancshares Inc restated a “hold” rating and issued a $58.00 price objective on shares of General Mills in a report on Tuesday, September 19th. Royal Bank Of Canada cut their price objective on shares of General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a report on Thursday, June 29th. Finally, Stifel Nicolaus cut their price objective on shares of General Mills from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $56.60.
General Mills (GIS) opened at 52.03 on Friday. The firm’s 50-day moving average price is $52.91 and its 200-day moving average price is $55.50. The firm has a market cap of $29.57 billion, a P/E ratio of 18.64 and a beta of 0.61. General Mills has a 1-year low of $50.13 and a 1-year high of $64.06.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. General Mills’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS. Equities research analysts anticipate that General Mills will post $3.08 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the stock. Pensionfund Sabic purchased a new stake in General Mills in the third quarter worth approximately $1,858,000. Pensionfund DSM Netherlands purchased a new stake in General Mills in the third quarter worth approximately $3,364,000. Curbstone Financial Management Corp boosted its holdings in General Mills by 84.5% in the third quarter. Curbstone Financial Management Corp now owns 14,320 shares of the company’s stock worth $741,000 after purchasing an additional 6,560 shares during the last quarter. Perpetual Ltd boosted its holdings in General Mills by 25.8% in the second quarter. Perpetual Ltd now owns 7,325 shares of the company’s stock worth $406,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Bogart Wealth LLC boosted its holdings in General Mills by 29.2% in the second quarter. Bogart Wealth LLC now owns 7,523 shares of the company’s stock worth $417,000 after purchasing an additional 1,699 shares during the last quarter. Institutional investors own 70.45% 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 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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