General Mills (NYSE:GIS) Upgraded to “Hold” at Zacks Research

General Mills (NYSE:GIS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. increased their price target on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Barclays cut their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Piper Sandler cut their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company increased their price target on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $39.16.

General Mills Trading Up 1.8%

NYSE:GIS opened at $38.87 on Wednesday. The company has a market capitalization of $20.75 billion, a P/E ratio of -215.94 and a beta of -0.03. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills has a 12 month low of $31.75 and a 12 month high of $51.33. The firm has a fifty day simple moving average of $35.98 and a 200-day simple moving average of $37.96.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities research analysts anticipate that General Mills will post 3.07 earnings per share for the current year.

Hedge Funds Weigh In On General Mills

Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of General Mills in the second quarter valued at $2,181,608,000. State Street Corp increased its holdings in General Mills by 0.4% during the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after purchasing an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after purchasing an additional 488,617 shares during the period. Geode Capital Management LLC raised its position in General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after purchasing an additional 172,200 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after buying an additional 200,043 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

About General Mills

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.