General Mills (GIS) was Reiterated by UBS to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 71 from a previous price target of $60 . UBS advised their investors in a research report released on Jul 6, 2016.
Many Wall Street Analysts have commented on General Mills. General Mills was Upgraded by BofA/Merrill to ” Neutral” on Jun 30, 2016. 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 .
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 $71.88 and hit $72.655 on the upside on Tuesday, eventually ending the session at $72.11, with a gain of 0.24% or 0.17 points. The heightened volatility saw the trading volume jump to 48,06,000 shares. Company has a market cap of $43,051 M.
Investors should note that on Jun 29, 2016, General Mills announced a cash dividend of $0.4800. The company’s management has announced Jul 7, 2016 as the ex-dividend date and fixed the record date on Jul 11, 2016. The payable date has been fixed on Aug 1, 2016.
In a different news, on Jul 5, 2016, Paul Danos (director) sold 20,000 shares at $71.53 per share price. According to the SEC, on May 13, 2016, Donal L Mulligan (Executive Vice President) sold 45,968 shares at $64.50 per share price. On Apr 7, 2016, Dorothy A Terrell (director) sold 10,280 shares at $64.51 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.