General Mills (NYSE:GIS) Stock Rating Lowered by The Goldman Sachs Group

General Mills (NYSE:GIS) was downgraded by The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $58.00 price objective on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 5.92% from the company’s previous close.

Several other research firms have also recently weighed in on GIS. Barclays lowered their price objective on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th. Piper Sandler cut their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. UBS Group decreased their price target on General Mills from $54.00 to $52.00 and set a “sell” rating on the stock in a report on Friday. Bank of America cut their target price on shares of General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Two 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.44.

General Mills Price Performance

NYSE:GIS opened at $54.76 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a market cap of $30.19 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.94 and a beta of 0.02. General Mills has a 12 month low of $52.39 and a 12 month high of $75.90. The company’s 50-day moving average price is $55.85 and its two-hundred day moving average price is $59.60.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. On average, equities analysts anticipate that General Mills will post 4.36 EPS for the current fiscal year.

Institutional Investors Weigh In On General Mills

Large investors have recently made changes to their positions in the stock. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Mills during the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in General Mills during the 4th quarter worth approximately $31,000. Transce3nd LLC acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $32,000. VSM Wealth Advisory LLC bought a new stake in shares of General Mills in the fourth quarter worth $32,000. Finally, Perkins Coie Trust Co boosted its holdings in General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after purchasing an additional 211 shares during the last quarter. 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.