Royal Bank Of Canada Reiterates Outperform Rating for General Mills (NYSE:GIS)

Key Points

• Royal Bank of Canada reaffirmed its “outperform” rating on General Mills and set a $45 price target, implying approximately 24% upside from the prior close.
• Analyst sentiment remains mixed: General Mills has a consensus “reduce” rating, with 4 buy, 10 hold, and 6 sell ratings and an average price target of $36.41.
• General Mills recently exceeded quarterly earnings expectations, reporting $0.95 EPS versus a $0.80 consensus and $4.61 billion in revenue, up 1.2% year over year.

General Mills (NYSE:GIS - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued to investors on Monday, Benzinga reports. They currently have a $45.00 target price on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 24.03% from the company's previous close.

Several other research analysts have also recently issued reports on GIS. TD Cowen dropped their price objective on General Mills from $32.00 to $31.00 and set a "hold" rating on the stock in a research note on Thursday, July 2nd. Weiss Ratings upgraded shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 2nd. Evercore set a $38.00 price objective on shares of General Mills in a report on Monday, September 14th. Morgan Stanley dropped their target price on General Mills from $37.00 to $32.00 and set an "underweight" rating on the stock in a research report on Friday, June 5th. Finally, Jefferies Financial Group set a $35.00 price objective on General Mills in a research report on Thursday, September 10th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $36.41.

General Mills Trading Down 0.1%

GIS stock opened at $36.28 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. General Mills has a 1-year low of $31.75 and a 1-year high of $51.33. The business has a 50 day simple moving average of $37.89 and a two-hundred day simple moving average of $36.58. The company has a market capitalization of $19.40 billion, a price-to-earnings ratio of -202.32, a PEG ratio of 1.98 and a beta of -0.01.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.59 billion. During the same period last year, the company posted $0.53 earnings per share. General Mills's quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Research analysts anticipate that General Mills will post 3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GIS. BlackRock Inc. acquired a new stake in shares of General Mills in the second quarter valued at about $2,181,608,000. Geode Capital Management LLC raised its stake in General Mills by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company's stock worth $704,170,000 after purchasing an additional 172,200 shares during the period. Norges Bank acquired a new position in General Mills in the 4th quarter valued at about $361,552,000. Goldman Sachs Group Inc. grew its stake in shares of General Mills by 18.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,926,607 shares of the company's stock valued at $275,587,000 after buying an additional 935,679 shares during the period. Finally, Capital World Investors raised its position in shares of General Mills by 0.3% during the 4th quarter. Capital World Investors now owns 5,602,094 shares of the company's stock valued at $260,497,000 after buying an additional 16,984 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Company Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer food products. Its portfolio includes cereals, snacks, refrigerated and shelf-stable meals, baking products, yogurt, and pet food.

The company's brands include Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso, Yoplait, Blue Buffalo, and Häagen-Dazs in markets where it owns or licenses the brand. General Mills sells its products through grocery stores, mass merchants, convenience stores, e-commerce channels, restaurants, and other foodservice providers.

General Mills traces its history to the Minneapolis Milling Company, founded in 1856, and adopted the General Mills name in 1928.

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