General Mills (GIS) Raised to Buy at Jefferies Group
General Mills (NYSE:GIS) was upgraded by equities research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $56.00 price objective on the stock. Jefferies Group’s target price suggests a potential upside of 2.55% from the company’s previous close.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Royal Bank of Canada set a $58.00 target price on General Mills and gave the stock a “hold” rating in a report on Monday, October 23rd. Wells Fargo & Co raised General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a report on Monday, December 18th. Societe Generale raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a report on Wednesday, December 27th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $58.28.
Shares of General Mills (NYSE GIS) traded down $0.18 on Wednesday, reaching $54.61. The company’s stock had a trading volume of 209,525 shares, compared to its average volume of 3,239,484. The firm has a market cap of $31,180.00, a P/E ratio of 20.07, a PEG ratio of 2.42 and a beta of 0.61. General Mills has a 52-week low of $49.65 and a 52-week high of $63.35. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53.
In other news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the transaction, the insider now directly owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Truewealth LLC acquired a new position in General Mills during the 4th quarter worth approximately $119,000. Financial Gravity Companies Inc. acquired a new position in General Mills during the 4th quarter worth approximately $131,000. Cable Hill Partners LLC raised its stake in General Mills by 274.5% during the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after buying an additional 1,647 shares during the period. Grove Bank & Trust raised its stake in General Mills by 322.7% during the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after buying an additional 1,878 shares during the period. Finally, Spectrum Management Group Inc. acquired a new position in General Mills during the 3rd quarter worth approximately $135,000. 72.59% of the stock is currently owned by institutional investors and hedge funds.
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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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