RBC Capital Markets maintained the shares of GIS in report on Monday, October 23 with "Hold" rating. Slowing organic volumes are overshadowing minor improvements in profit margins.
"Our profit was down this quarter but improved sequentially over the first quarter", said Jonathon J. Nudi, senior vice-president and group president of North America Retail. General Mills beat expectations on sales by $110 million. "The company is now pursuing several initiatives focused on improving operational efficiency to generate cost savings and support its key growth strategies".
Other equities analysts have also recently issued research reports about the company. Societe Generale upgraded shares of General Mills from a "sell" rating to a "hold" rating in a research note on Wednesday, November 8th. Morgan Stanley reiterated an "equal weight" rating and set a $52.00 target price (down previously from $55.00) on shares of General Mills in a report on Thursday, September 21st. Piper Jaffray downgraded the shares of QDEL in report on Friday, December 16 to "Neutral" rating. RBC Capital Markets maintained it with "Hold" rating and $6200 target in Wednesday, August 2 report. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. The company now has an average rating of "Hold" and a consensus price target of $57.77.
GIS stock rose $1.03, or 1.8%, to $58.66. The company now has an average rating of "Hold" and an average target price of $57.38. American Century Companies Inc. now owns 11,295,701 shares of the company's stock worth $584,665,000 after acquiring an additional 1,550,074 shares in the last quarter.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting the Thomson Reuters' consensus estimate of $0.82.
Analysts believe that the company has the potential to earn average revenue of $3.83 Billion for the current quarter.
General Mills, Inc.is benefiting from an increased focus on innovation. The company's revenue was up 2.1% on a year-over-year basis. Shares are now up over the past year, outperforming the broad market by -100% and underperformed a peer group of similar companies by -103%. Winslow Evans & Crocker holds 0.04% in General Mills, Inc.
Based on a recent trade, the shares are -7.80% away from the 52-week high and 18.35% from the 52-week low. Boston Advisors LLC boosted its position in General Mills by 1.8% during the second quarter.
The stock increased 1.96% or $1.13 during the last trading session, reaching $58.76.
Many value investors look for stocks with a high percent of insider ownership, under the theory that when management are shareholders, they will act in its own self interest, and create shareholder value in the long-term. Bank of New York Mellon Corp lifted its position in General Mills by 13.5% during the third quarter. Finally, Morgan Stanley lifted its position in General Mills by 29.4% during the first quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company's stock worth $241,000 after purchasing an additional 25 shares during the period. The fund owned 66,901 shares of the company's stock after buying an additional 2,816 shares during the period.
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General Mills, Inc. manufactures and markets branded consumer foods in the United States. While organic growth remained flat in the North America retail segment, we expect the firm's long-standing retail relationships will allow it to secure prime shelf space for new products, like Chocolate Peanut Butter Cheerios and Oui by Yoplait, even as the center of the store remains challenged. In the US, the company's sales of cereals like Chocolate Peanut Butter Cheerios rose 7%, and sales of snacks like Nature Valley granola bars rose 5%.
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