Royal Bank of Canada restated their sector perform rating on shares of General Mills (NYSE:GIS) in a report published on Monday, The Fly reports. They currently have a $52.00 price objective on the stock.

GIS has been the subject of a number of other research reports. Zacks Investment Research cut shares of General Mills from a hold rating to a sell rating in a report on Tuesday, August 28th. Credit Suisse Group set a $46.00 price objective on shares of General Mills and gave the company a hold rating in a report on Thursday, September 13th. Bank of America restated a hold rating and set a $49.00 price objective on shares of General Mills in a report on Wednesday, June 27th. ValuEngine upgraded shares of General Mills from a strong sell rating to a sell rating in a report on Friday, September 7th. Finally, Goldman Sachs Group restated a neutral rating and set a $47.00 price objective on shares of General Mills in a report on Thursday, May 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. General Mills has a consensus rating of Hold and a consensus target price of $50.35.

GIS opened at $47.77 on Monday. The company has a quick ratio of 0.34, a current ratio of 0.56 and a debt-to-equity ratio of 1.95. The company has a market cap of $28.46 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.84 and a beta of 0.74. General Mills has a fifty-two week low of $41.01 and a fifty-two week high of $60.69.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 27th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.07. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.89 billion. General Mills had a net margin of 13.54% and a return on equity of 35.14%. General Mills’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. equities research analysts anticipate that General Mills will post 3.05 earnings per share for the current fiscal year.

In other news, insider Kofi A. Bruce sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $47.28, for a total value of $104,016.00. Following the completion of the transaction, the insider now owns 19,660 shares in the company, valued at $929,524.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria Sastre bought 1,000 shares of General Mills stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average price of $47.37 per share, with a total value of $47,370.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $47,370. The disclosure for this purchase can be found here. Insiders sold 158,018 shares of company stock valued at $7,114,487 in the last quarter. Corporate insiders own 0.59% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in General Mills by 9.3% during the first quarter. BlackRock Inc. now owns 47,261,193 shares of the company’s stock worth $2,129,588,000 after purchasing an additional 4,033,152 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in General Mills by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 23,682,121 shares of the company’s stock worth $1,048,171,000 after purchasing an additional 598,315 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in General Mills by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 7,644,795 shares of the company’s stock worth $338,359,000 after purchasing an additional 46,939 shares during the last quarter. Schroder Investment Management Group boosted its holdings in General Mills by 5.1% during the second quarter. Schroder Investment Management Group now owns 5,166,277 shares of the company’s stock worth $230,829,000 after purchasing an additional 250,508 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in General Mills by 1,063.9% during the second quarter. Macquarie Group Ltd. now owns 4,367,847 shares of the company’s stock worth $193,313,000 after purchasing an additional 3,992,581 shares during the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. 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, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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The Fly

Analyst Recommendations for General Mills (NYSE:GIS)

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