General Mills (NYSE:GIS) Downgraded by The Goldman Sachs Group to "Neutral"

General Mills (NYSE:GIS - Get Free Report) was downgraded by equities research analysts at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $58.00 price target on the stock, down from their previous price target of $68.00. The Goldman Sachs Group's price objective would suggest a potential upside of 5.99% from the company's previous close.

Several other equities analysts have also recently commented on GIS. UBS Group reduced their target price on General Mills from $54.00 to $52.00 and set a "sell" rating for the company in a research note on Friday, June 6th. Bank of America reduced their price objective on shares of General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Mizuho decreased their price objective on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Piper Sandler dropped their target price on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. Finally, Barclays reduced their price target on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $63.44.

General Mills Stock Up 0.9%

GIS traded up $0.49 during trading hours on Monday, reaching $54.72. 3,879,905 shares of the stock traded hands, compared to its average volume of 4,537,069. General Mills has a fifty-two week low of $52.39 and a fifty-two week high of $75.90. The company has a market cap of $30.16 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.94 and a beta of 0.02. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The firm's fifty day simple moving average is $55.52 and its two-hundred day simple moving average is $59.46.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm earned $1.17 earnings per share. The company's revenue was down 5.1% on a year-over-year basis. As a group, analysts forecast that General Mills will post 4.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Mills

Hedge funds and other institutional investors have recently modified their holdings of the company. CBIZ Investment Advisory Services LLC bought a new stake in General Mills in the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $31,000. Perkins Coie Trust Co raised its holdings in shares of General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after buying an additional 211 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of General Mills during the fourth quarter worth approximately $32,000. Finally, Transce3nd LLC bought a new position in General Mills in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 75.71% of the company's stock.

About General Mills

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.