General Mills, Inc. (GIS) Stock Rating Lowered by Zacks Investment Research
General Mills, Inc. (NYSE:GIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “General Mills' consumer-focused innovation, marketing initiatives and robust restructuring savings are making up for the sluggish revenue growth. The company is currently pursuing several initiatives focused on improving operational efficiency to generate cost savings and support its key growth strategies. By fiscal 2018, the company expects to achieve cost savings through increased efficiency, reduced complexity through SKU optimization, further supply chain optimization and continued expansion of zero-based budgeting across the business, which will result in accelerated margin expansion. However, General Mills' shares have underperformed the industry so far this year. Slowing organic volumes are overshadowing minor improvements in profit margins. Earnings estimates for the current quarter and the year have been revised downward by 3.5% and 0.6%, respectively, over the last 30 days, reflecting analyst concerns surrounding the stock.”
Several other research firms have also recently commented on GIS. BidaskClub upgraded General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Piper Jaffray Companies reiterated an “underweight” rating and issued a $56.00 price target (down previously from $57.00) on shares of General Mills in a research note on Monday, June 19th. UBS AG reiterated a “neutral” rating and issued a $61.00 price target (down previously from $63.00) on shares of General Mills in a research note on Wednesday, June 21st. Susquehanna Bancshares Inc reiterated a “hold” rating and issued a $58.00 price target on shares of General Mills in a research note on Tuesday, September 19th. Finally, Royal Bank Of Canada cut their price target on General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. General Mills presently has an average rating of “Hold” and a consensus price target of $56.64.
Shares of General Mills (NYSE:GIS) traded down 0.396% during midday trading on Tuesday, hitting $51.605. The stock had a trading volume of 1,555,092 shares. General Mills has a one year low of $50.13 and a one year high of $64.06. The company has a market cap of $29.33 billion, a P/E ratio of 18.490 and a beta of 0.62. The stock has a 50 day moving average of $53.11 and a 200-day moving average of $55.65.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS 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 business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm posted $0.78 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. Analysts forecast that General Mills will post $3.08 EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Lenox Wealth Advisors Inc. grew its holdings in shares of General Mills by 0.8% during the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares during the last quarter. Winslow Evans & Crocker Inc. grew its holdings in shares of General Mills by 2.9% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after purchasing an additional 69 shares during the last quarter. Hanson McClain Inc. grew its holdings in shares of General Mills by 1.5% during the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after purchasing an additional 35 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of General Mills by 33.4% during the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock valued at $146,000 after purchasing an additional 627 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of General Mills by 11.2% during the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock valued at $148,000 after purchasing an additional 253 shares during the last quarter. 70.45% of the stock is 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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