General Mills Inc. (GIS) Stock Rating Upgraded by Zacks Investment Research
General Mills Inc. (NYSE:GIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $69.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.23% from the stock’s current price.
According to Zacks, “Sales and profits at General Mills’ U.S. Retail segment, contributing 60% to its sales, have been soft due to lower demand amid changing consumer food preferences. Nonetheless, robust restructuring savings are making up for the slower revenue growth. At the fourth quarter conference call, the company raised its cost savings target for fiscal 2018 as it forges ahead with its margin expansion efforts. Though consumer-focused innovation and marketing drive as well as greater distribution of natural and organic portfolio helped improve the top line on many businesses in segments like cereals and snacks in fiscal 2016, we believe a material improvement will take time.”
Other equities research analysts also recently issued research reports about the company. RBC Capital Markets restated an “outperform” rating and set a $73.00 target price on shares of General Mills in a research report on Friday, September 23rd. Credit Suisse Group AG restated a “hold” rating and set a $68.00 target price on shares of General Mills in a research report on Thursday, September 22nd. Consumer Edge downgraded General Mills from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 20th. Barclays PLC restated an “equal weight” rating and set a $66.00 target price on shares of General Mills in a research report on Friday, September 23rd. Finally, set a $65.00 target price on General Mills and gave the stock a “sell” rating in a research report on Thursday, September 22nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and an average target price of $67.56.
Shares of General Mills (NYSE:GIS) opened at 61.48 on Tuesday. The stock has a market capitalization of $36.36 billion, a P/E ratio of 22.36 and a beta of 0.55. The stock’s 50 day moving average price is $61.64 and its 200-day moving average price is $66.08. General Mills has a 1-year low of $53.53 and a 1-year high of $72.95.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company earned $3.91 billion during the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The company’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. Equities research analysts anticipate that General Mills will post $3.10 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 3.12%. General Mills’s payout ratio is 69.82%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Park National Corp OH boosted its position in General Mills by 4.9% in the second quarter. Park National Corp OH now owns 186,432 shares of the company’s stock worth $13,297,000 after buying an additional 8,637 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its position in General Mills by 5.1% in the second quarter. Stock Yards Bank & Trust Co. now owns 13,378 shares of the company’s stock worth $954,000 after buying an additional 644 shares during the last quarter. Boltwood Capital Management boosted its position in General Mills by 1.7% in the second quarter. Boltwood Capital Management now owns 18,007 shares of the company’s stock worth $1,284,000 after buying an additional 300 shares during the last quarter. Fulton Bank N.A. boosted its position in General Mills by 2.3% in the second quarter. Fulton Bank N.A. now owns 42,932 shares of the company’s stock worth $3,062,000 after buying an additional 961 shares during the last quarter. Finally, Iowa State Bank boosted its position in General Mills by 1.9% in the second quarter. Iowa State Bank now owns 40,920 shares of the company’s stock worth $2,918,000 after buying an additional 780 shares during the last quarter. 69.46% of the stock is owned by hedge funds and other institutional investors.
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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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