General Mills (GIS) Given a $62.00 Price Target at Credit Suisse Group

General Mills (NYSE:GIS) has been assigned a $62.00 price objective by equities research analysts at Credit Suisse Group in a research note issued to investors on Thursday. The firm currently has a “hold” rating on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 4.89% from the stock’s previous close.

GIS has been the subject of several other research reports. Susquehanna Bancshares set a $61.00 price target on General Mills and gave the stock a “hold” rating in a research note on Friday, January 5th. Piper Jaffray Companies upgraded General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price target for the company in a research note on Wednesday, January 3rd. Argus reiterated a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. BMO Capital Markets reiterated a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Finally, Wells Fargo & Co set a $65.00 price target on General Mills and gave the stock a “buy” rating in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $58.28.

General Mills (GIS) opened at $59.11 on Thursday. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53. General Mills has a 52 week low of $49.65 and a 52 week high of $63.73. The company has a market capitalization of $33,640.00, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.61 and a beta of 0.66.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting analysts’ consensus estimates of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. equities research analysts forecast that General Mills will post 3.12 EPS for the current fiscal year.

In related news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the sale, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in General Mills by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock valued at $2,214,240,000 after purchasing an additional 533,919 shares during the period. American Century Companies Inc. raised its holdings in General Mills by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after acquiring an additional 1,550,074 shares in the last quarter. American International Group Inc. raised its holdings in General Mills by 1,708.4% in the 3rd quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock valued at $467,276,000 after acquiring an additional 8,528,534 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in General Mills by 13.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,490,175 shares of the company’s stock valued at $387,691,000 after acquiring an additional 890,262 shares in the last quarter. Finally, Federated Investors Inc. PA raised its holdings in General Mills by 94.6% in the 2nd quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock valued at $250,196,000 after acquiring an additional 2,195,397 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

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General Mills Company Profile

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.

Analyst Recommendations for General Mills (NYSE:GIS)

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