General Mills (NYSE:GIS) Hits New 52-Week Low – Here’s What Happened

General Mills, Inc. (NYSE:GIS) reached a new 52-week low during trading on Monday . The company traded as low as $33.46 and last traded at $33.4450, with a volume of 5276301 shares. The stock had previously closed at $34.68.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Barclays set a $36.00 target price on shares of General Mills in a research note on Monday. Weiss Ratings cut shares of General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 13th. TD Cowen reduced their price objective on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Thursday, March 19th. Morgan Stanley reduced their price objective on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Royal Bank Of Canada reduced their price objective on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $42.83.

General Mills Price Performance

The firm’s 50-day moving average is $37.97 and its two-hundred day moving average is $43.48. The company has a market cap of $18.06 billion, a P/E ratio of 8.27 and a beta of -0.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts anticipate that General Mills, Inc. will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On General Mills

Several large investors have recently bought and sold shares of the business. Retirement Planning Co of New England Inc. lifted its stake in shares of General Mills by 4.2% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,416 shares of the company’s stock valued at $273,000 after purchasing an additional 219 shares during the last quarter. Smith Moore & CO. lifted its stake in shares of General Mills by 2.6% in the 3rd quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock valued at $443,000 after purchasing an additional 225 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in shares of General Mills by 1.9% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock valued at $565,000 after purchasing an additional 225 shares during the last quarter. Allegheny Financial Group increased its position in General Mills by 4.8% during the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock valued at $228,000 after acquiring an additional 226 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC increased its position in General Mills by 0.7% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after acquiring an additional 226 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.