BMO Capital Markets reissued their market perform rating on shares of General Mills, Inc. (NYSE:GIS) in a research note published on Thursday morning. BMO Capital Markets currently has a $57.00 price objective on the stock, down from their previous price objective of $60.00.
GIS has been the subject of several other reports. Royal Bank Of Canada lowered their target price on General Mills from $65.00 to $62.00 and set a sector perform rating for the company in a report on Thursday, June 29th. UBS AG reiterated a neutral rating and issued a $58.00 target price (down from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research upgraded General Mills from a sell rating to a hold rating in a report on Wednesday, August 23rd. Piper Jaffray Companies reiterated an underweight rating and issued a $56.00 target price (down from $57.00) on shares of General Mills in a report on Monday, June 19th. Finally, Vetr upgraded General Mills from a hold rating to a buy rating and set a $57.82 target price for the company in a report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $57.66.
General Mills (NYSE GIS) opened at 51.23 on Thursday. General Mills has a 12 month low of $50.40 and a 12 month high of $65.24. The stock has a market cap of $29.12 billion, a price-to-earnings ratio of 18.36 and a beta of 0.62. The firm’s 50-day moving average price is $55.75 and its 200 day moving average price is $56.75.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. General Mills’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that General Mills will post $3.09 earnings per share for the current year.
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A number of large investors have recently made changes to their positions in GIS. Waldron LP acquired a new position in General Mills during the 1st quarter valued at about $420,000. Vigilant Capital Management LLC increased its position in General Mills by 5.7% during the 1st quarter. Vigilant Capital Management LLC now owns 3,718 shares of the company’s stock valued at $219,000 after buying an additional 200 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in General Mills by 10.6% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 49,395 shares of the company’s stock valued at $2,914,000 after buying an additional 4,740 shares in the last quarter. Bridge Creek Capital Management LLC increased its position in General Mills by 3.2% during the 1st quarter. Bridge Creek Capital Management LLC now owns 63,059 shares of the company’s stock valued at $3,721,000 after buying an additional 1,960 shares in the last quarter. Finally, Arrow Financial Corp increased its position in General Mills by 1.2% during the 1st quarter. Arrow Financial Corp now owns 48,961 shares of the company’s stock valued at $2,889,000 after buying an additional 570 shares in the last quarter. 69.38% of the stock is currently owned by institutional investors.
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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