General Mills (NYSE:GIS) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of General Mills (NYSE:GIS) in a research note published on Tuesday morning, BenzingaRatingsTable reports. The firm issued an in-line rating and a $56.00 price objective on the stock.

Several other brokerages have also weighed in on GIS. ValuEngine upgraded shares of General Mills from a sell rating to a hold rating in a report on Friday, March 15th. Deutsche Bank upgraded shares of General Mills from a hold rating to a buy rating and increased their price objective for the stock from $43.00 to $54.00 in a report on Thursday, March 14th. TheStreet upgraded shares of General Mills from a c+ rating to a b- rating in a report on Friday, March 15th. Standpoint Research lowered shares of General Mills from a buy rating to a hold rating in a report on Thursday, February 21st. Finally, Credit Suisse Group raised their price target on shares of General Mills from $43.00 to $52.00 and gave the company a neutral rating in a report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $50.16.

Shares of GIS stock opened at $53.41 on Tuesday. The stock has a market cap of $32.03 billion, a PE ratio of 17.17, a P/E/G ratio of 2.25 and a beta of 0.75. General Mills has a 1-year low of $36.42 and a 1-year high of $53.66. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. Analysts forecast that General Mills will post 3.15 earnings per share for the current fiscal year.

In other General Mills news, insider Shawn P. Ogrady sold 118,152 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $48.50, for a total value of $5,730,372.00. Following the completion of the sale, the insider now owns 187,891 shares of the company’s stock, valued at $9,112,713.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John R. Church sold 4,719 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total transaction of $239,630.82. Following the completion of the sale, the insider now directly owns 34,112 shares of the company’s stock, valued at approximately $1,732,207.36. The disclosure for this sale can be found here. Insiders sold 323,500 shares of company stock worth $16,030,489 in the last 90 days. 0.59% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Acima Private Wealth LLC acquired a new stake in General Mills in the fourth quarter valued at approximately $29,000. Legacy Advisors LLC acquired a new stake in General Mills in the first quarter valued at approximately $31,000. Certified Advisory Corp grew its position in General Mills by 100.9% in the first quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in General Mills in the first quarter valued at approximately $35,000. Finally, Massmutual Trust Co. FSB ADV grew its position in General Mills by 57.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 687 shares of the company’s stock valued at $36,000 after acquiring an additional 250 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

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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Analyst Recommendations for General Mills (NYSE:GIS)

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