General Mills (GIS) Stock Rating Upgraded by Goldman Sachs

General Mills (NYSE:GIS) was upgraded by research analysts at Goldman Sachs from a “sell” rating to a “neutral” rating in a research report issued on Wednesday, MarketBeat.com reports. The firm currently has a $47.00 price objective on the stock. Goldman Sachs’ price objective would suggest a potential upside of 9.79% from the stock’s current price.

A number of other research firms also recently weighed in on GIS. JPMorgan Chase reduced their price target on shares of General Mills to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, March 22nd. TheStreet downgraded shares of General Mills from a “b-” rating to a “c+” rating in a research note on Monday, April 2nd. Piper Jaffray restated a “hold” rating and issued a $49.00 price target on shares of General Mills in a research note on Thursday, March 22nd. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, April 17th. Finally, Morgan Stanley reduced their price target on shares of General Mills from $58.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. General Mills currently has an average rating of “Hold” and a consensus target price of $53.43.

Shares of General Mills opened at $42.81 on Wednesday, MarketBeat.com reports. The stock has a market cap of $24.18 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.85 and a beta of 0.76. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.45 and a current ratio of 0.69. General Mills has a 12-month low of $42.45 and a 12-month high of $42.94.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.87 billion. General Mills had a net margin of 13.96% and a return on equity of 37.64%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. analysts predict that General Mills will post 3.07 EPS for the current fiscal year.

General Mills declared that its Board of Directors has initiated a share repurchase plan on Friday, February 23rd that allows the company to repurchase shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in General Mills by 9.3% in the 1st quarter. BlackRock Inc. now owns 47,261,193 shares of the company’s stock valued at $2,129,588,000 after buying an additional 4,033,152 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in General Mills by 5.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 23,083,806 shares of the company’s stock worth $1,040,156,000 after purchasing an additional 1,285,436 shares during the last quarter. American International Group Inc. raised its holdings in General Mills by 10.3% during the 4th quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock worth $590,566,000 after purchasing an additional 932,891 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in General Mills by 13.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after purchasing an additional 1,009,126 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in General Mills by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,261,796 shares of the company’s stock worth $370,514,000 after purchasing an additional 146,687 shares during the last quarter. Institutional investors and hedge funds own 73.99% of the company’s stock.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.

Analyst Recommendations for General Mills (NYSE:GIS)

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