General Mills (NYSE:GIS) was upgraded by Susquehanna Bancshares from a “neutral” rating to a “positive” rating in a report issued on Friday.
Other equities research analysts have also recently issued reports about the company. Credit Suisse Group reissued a “hold” rating and issued a $55.00 target price on shares of General Mills in a research note on Tuesday. Edward Jones reissued a “hold” rating on shares of General Mills in a research note on Wednesday, December 20th. BMO Capital Markets reissued a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Wells Fargo raised General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a research note on Monday, December 18th. Finally, Societe Generale cut General Mills from a “buy” rating to a “hold” rating and cut their target price for the stock from $52.98 to $48.00 in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. General Mills has a consensus rating of “Hold” and a consensus price target of $54.70.
Shares of General Mills (NYSE:GIS) opened at $44.45 on Friday. The firm has a market capitalization of $25,897.18, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.93 and a beta of 0.72. General Mills has a 12 month low of $44.44 and a 12 month high of $60.69. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.34.
General Mills declared that its Board of Directors has initiated a share repurchase plan on Friday, February 23rd that allows the company to buyback outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the transaction, the insider now directly owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. Avestar Capital LLC bought a new position in shares of General Mills during the fourth quarter valued at $100,000. Truewealth LLC bought a new position in General Mills in the fourth quarter valued at about $119,000. Financial Gravity Companies Inc. bought a new position in General Mills in the fourth quarter valued at about $131,000. Cable Hill Partners LLC lifted its holdings in General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after acquiring an additional 1,647 shares during the period. Finally, Grove Bank & Trust lifted its holdings in General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after acquiring an additional 1,878 shares during the period. 74.20% of the stock is currently owned by hedge funds and other institutional investors.
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About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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