Credit Suisse Group raises General Mills (NYSE:GIS) price target to $72.00
General Mills (NYSE: GIS – Get an Assessment) had its price target raised by investment analysts Credit Suisse Group from $68.00 to $72.00 in a research note released on Thursday, reports The Fly. Credit Suisse Group’s price target indicates a potential downside of 3.46% from the current share price.
Other analysts also released reports on the stock. Deutsche Bank Aktiengesellschaft raised its price target on General Mills shares from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group began covering General Mills shares in a research report on Wednesday, March 30. They set a “neutral” rating and a target price of $69.00 on the stock. StockNews.com downgraded General Mills from a “hold” rating to a “buy” rating in a Thursday, March 24, report. Piper Sandler raised its price target on General Mills from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. cut its price target on General Mills from $67.00 to $64.00 and set a “neutral” rating for the company in a Tuesday, March 22 report. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned the stock a buy rating. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average price target of $71.45.
General Mills shares traded down $0.14 during trading hours Thursday, hitting $74.58. 104,496 shares of the company were traded, against an average volume of 3,804,289. The company has a quick ratio of 0.49, a current ratio of 0.74 and a leverage ratio of 1.09. General Mills has a 1 year low of $56.67 and a 1 year high of $75.00. The company has a fifty-day moving average of $69.79 and a two-hundred-day moving average of $68.29. The company has a market capitalization of $44.91 billion, a P/E ratio of 19.89, a price-to-earnings growth ratio of 2.37 and a beta of 0.45.
General Mills (NYSE:GIS – Get Rating) last released its results on Wednesday, June 29. The company reported EPS of $1.12 for the quarter, beating consensus analyst estimates of $1.01 by $0.11. General Mills had a net margin of 12.36% and a return on equity of 23.10%. The company posted revenue of $4.89 billion for the quarter, versus $4.81 billion expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $0.91. General Mills’ revenue for the quarter increased 8.1% over the same quarter last year. As a group, research analysts predict that General Mills will post EPS of 3.83 for the current year.
Separately, insider Shawn P. Ogrady sold 43,565 shares of General Mills in a trade dated Wednesday, April 20. The stock was sold at an average price of $71.90, for a total transaction of $3,132,323.50. Following the completion of the sale, the insider now owns 87,554 shares of the company, valued at approximately $6,295,132.60. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, insider Shawn P. Ogrady sold 27,157 shares of General Mills in a trade dated Tuesday, April 5. The stock was sold at an average price of $69.50, for a total value of $1,887,411.50. Following the sale, the insider now owns 87,554 shares of the company, valued at approximately $6,085,003. The disclosure of this sale can be found here. During the last quarter, insiders sold 81,633 shares of the company valued at $5,768,339. 0.53% of the shares are currently held by insiders of the company.
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Adalta Capital Management LLC purchased a new stake in General Mills in Q1 worth approximately $142,000. Offit Capital Advisors LLC increased its holdings in General Mills by 30.5% in the first quarter. Offit Capital Advisors LLC now owns 4,055 shares of the company valued at $275,000 after purchasing an additional 947 shares during the period. Bank of America Corp DE increased its stake in General Mills by 15.6% in the first quarter. Bank of America Corp DE now owns 6,227,105 shares of the company valued at $421,700,000 after purchasing an additional 842,191 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new stake in General Mills in Q1 valued at approximately $443,000. Finally, Fortitude Advisory Group LLC increased its stake in General Mills shares by 11.5% in the 1st quarter. Fortitude Advisory Group LLC now owns 6,116 shares of the company valued at $414,000 after purchasing an additional 630 shares in the last quarter. Institutional investors hold 74.63% of the company’s shares.
General Mills Company Profile (Get an assessment)
General Mills, Inc. manufactures and markets branded consumer foods worldwide. The Company operates through five segments: North America Retail; Convenience stores and food services; Europe and Australia; Asia and Latin America; and pet. It offers ready-to-eat cereals, chilled yogurts, soups, meal kits, chilled and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and snacks, snacks -bars, fruit and savory snacks, ice cream, nutritional bars. , wellness drinks and savory and cereal snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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