General Mills (GIS) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 30, 2016.
Many Wall Street Analysts have commented on General Mills. Company shares were Reiterated by RBC Capital Mkts on Jun 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .Company shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $64 .Goldman Downgraded General Mills on May 24, 2016 to ” Sell”, Price Target of the shares are set at $58.
On the company’s financial health, General Mills reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jun 29, 2016. Analyst had a consensus of $0.60. The company had revenue of $3928.00 million for the quarter, compared to analysts expectations of $3860.63 million. The company’s revenue was down -8.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.75 EPS.
General Mills opened for trading at $66.17 and hit $67.91 on the upside on Wednesday, eventually ending the session at $67.86, with a gain of 3.19% or 2.1 points. The heightened volatility saw the trading volume jump to 77,59,723 shares. Company has a market cap of $40,336 M.
In a different news, on May 13, 2016, Donal L Mulligan (Executive Vice President) sold 45,968 shares at $64.50 per share price. According to the SEC, on Apr 7, 2016, Dorothy A Terrell (director) sold 10,280 shares at $64.51 per share price. On Apr 6, 2016, John R Church (Executive Vice President) sold 78,673 shares at $64.85 per share price, according to the Form-4 filing with the securities and exchange commission.
General Mills Inc. is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S. Retail International and Convenience Stores and Foodservice. The Company offers a range of food products with a focus on five categories: ready-to-eat cereal; convenient meals including meal kits ethnic meals pizza soup side dish mixes frozen breakfast and frozen entrees; snacks including grain fruit and savory snacks nutrition bars and frozen hot snacks; yogurt and super-premium ice cream. The Company’s other product categories include baking mixes and ingredients; refrigerated and frozen dough and frozen and shelf-stable vegetables. The Company has 50% interests in two joint ventures that manufacture and market food products.