Stifel Nicolaus Has Lowered Expectations for General Mills (NYSE:GIS) Stock Price

Key Points

• Stifel Nicolaus cut its price target on General Mills from $44 to $40 (still a "buy"), and multiple other brokers have trimmed targets recently, leaving a MarketBeat consensus rating of "Reduce" with an average target of $43.22.
• General Mills recently missed quarterly expectations—EPS $0.64 vs. $0.73 expected and revenue $4.44B (down 8.4% YoY)—and its shares trade around $35.27, near the 12‑month low of $34.04.

General Mills (NYSE:GIS - Get Free Report) had its price target reduced by equities research analysts at Stifel Nicolaus from $44.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 13.43% from the company's current price.

Several other analysts also recently issued reports on the company. Piper Sandler decreased their target price on General Mills from $53.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, March 19th. Royal Bank Of Canada reduced their price objective on General Mills from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, March 19th. Zacks Research downgraded General Mills from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 19th. The Goldman Sachs Group reduced their price objective on General Mills from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, March 19th. Finally, BTIG Research initiated coverage on General Mills in a research note on Monday, April 13th. They issued a "neutral" rating on the stock. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, General Mills presently has a consensus rating of "Reduce" and an average target price of $43.22.

General Mills Stock Down 0.7%

Shares of GIS opened at $35.27 on Tuesday. The business's 50 day moving average is $40.53 and its 200 day moving average is $44.57. The company has a market capitalization of $18.82 billion, a PE ratio of 8.62 and a beta of 0.01. General Mills has a 12-month low of $34.04 and a 12-month high of $58.45. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.09). The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.12 EPS. Research analysts expect that General Mills will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Mills

Institutional investors and hedge funds have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC purchased a new position in shares of General Mills in the 3rd quarter worth approximately $25,000. Reflection Asset Management purchased a new position in shares of General Mills in the 4th quarter worth approximately $25,000. Close Asset Management Ltd purchased a new position in shares of General Mills in the 3rd quarter worth approximately $28,000. Nalls Sherbakoff Group LLC purchased a new position in shares of General Mills in the 4th quarter worth approximately $26,000. Finally, Davis Capital Management purchased a new position in shares of General Mills in the 3rd quarter worth approximately $29,000. Hedge funds and other 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.

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