JPMorgan Chase & Co. Reaffirms Underweight Rating for General Mills (NYSE:GIS)

Key Points

• JPMorgan Chase & Co. has reaffirmed its "underweight" rating for General Mills, reducing the price target from $53.00 to $45.00, indicating a potential downside of 9.70% from the current stock price.
• Other analysts have also adjusted their ratings, with Goldman Sachs downgrading the stock from "buy" to "neutral," setting a new target of $58.00.
• General Mills’ recent financial performance included a net revenue decline of 3.3% year-over-year, despite beating earnings per share estimates by $0.02 with an EPS of $0.74.

General Mills (NYSE:GIS - Get Free Report)'s stock had its "underweight" rating reiterated by analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $45.00 price objective on the stock, down from their previous price objective of $53.00. JPMorgan Chase & Co.'s price target suggests a potential downside of 10.24% from the stock's previous close.

GIS has been the topic of a number of other reports. Bank of America cut their target price on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. UBS Group cut their target price on General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research note on Thursday, June 26th. Stifel Nicolaus cut their target price on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 target price on General Mills and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $51.00 target price (down from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $59.13.

General Mills Stock Up 0.7%

GIS stock traded up $0.3260 during midday trading on Wednesday, hitting $50.1360. The stock had a trading volume of 3,871,453 shares, compared to its average volume of 5,472,722. The firm has a market cap of $27.20 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.27 and a beta of -0.01. The business has a 50-day moving average of $50.85 and a two-hundred day moving average of $55.17. General Mills has a 52-week low of $48.59 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The firm's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, equities research analysts forecast that General Mills will post 4.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Stance Capital LLC bought a new position in General Mills in the second quarter valued at about $1,653,000. Cape Investment Advisory Inc. bought a new position in General Mills in the second quarter valued at about $67,000. Advisory Services Network LLC lifted its holdings in General Mills by 53.7% in the second quarter. Advisory Services Network LLC now owns 65,097 shares of the company's stock valued at $3,188,000 after acquiring an additional 22,742 shares during the period. State of Wyoming lifted its holdings in General Mills by 175.6% in the second quarter. State of Wyoming now owns 6,929 shares of the company's stock valued at $359,000 after acquiring an additional 4,415 shares during the period. Finally, Asset Dedication LLC lifted its holdings in General Mills by 180.8% in the second quarter. Asset Dedication LLC now owns 1,508 shares of the company's stock valued at $78,000 after acquiring an additional 971 shares during the period. Institutional investors own 75.71% of the company's stock.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.