General Mills (NYSE:GIS) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of General Mills (NYSE:GIS - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The firm set a "sell" rating and a $54.00 price target on the stock. UBS Group's target price suggests a potential downside of 7.02% from the company's previous close.

A number of other equities research analysts also recently issued reports on GIS. Bank of America reduced their price target on General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. reduced their price objective on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Mizuho reduced their price target on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Piper Sandler lowered their price objective on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. Finally, Barclays reduced their target price on General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $65.00.

General Mills Stock Performance

GIS opened at $58.08 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company has a market capitalization of $32.02 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. The business has a fifty day simple moving average of $59.43 and a 200 day simple moving average of $62.66. General Mills has a 1 year low of $55.15 and a 1 year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. General Mills's quarterly revenue was down 5.1% on a year-over-year basis. Research analysts expect that General Mills will post 4.36 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares of the company's stock, valued at $22,967,490. The trade was a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company's stock.

Institutional Investors Weigh In On General Mills

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of General Mills by 1.2% during the 3rd quarter. Barclays PLC now owns 1,634,280 shares of the company's stock worth $120,691,000 after purchasing an additional 19,290 shares in the last quarter. Bard Financial Services Inc. raised its position in shares of General Mills by 0.6% during the third quarter. Bard Financial Services Inc. now owns 108,475 shares of the company's stock worth $8,011,000 after purchasing an additional 700 shares during the period. World Investment Advisors LLC acquired a new position in shares of General Mills during the third quarter worth approximately $403,000. Wilmington Savings Fund Society FSB grew its position in General Mills by 138.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 37,487 shares of the company's stock valued at $2,768,000 after purchasing an additional 21,790 shares during the period. Finally, Optimist Retirement Group LLC increased its stake in General Mills by 19.0% during the 3rd quarter. Optimist Retirement Group LLC now owns 28,362 shares of the company's stock valued at $2,095,000 after purchasing an additional 4,528 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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