Market Analysts see General Mills Inc. [GIS] gaining to $70. Time to buy?

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General Mills Inc. [NYSE: GIS] closed the trading session at $65.26 on 09/13/23. The day’s price range saw the stock hit a low of $65.131, while the highest price level was $65.81. The company report on September 6, 2023 at 7:00 AM that General Mills Reaffirms Annual Guidance and Provides Business Update at 2023 Barclays Global Consumer Staples Conference.

In conjunction with its participation at the 2023 Barclays Global Consumer Staples Conference, General Mills (NYSE: GIS) provided an update on progress against its three enterprise priorities and reaffirmed its full-year financial outlook for fiscal 2024.

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“We entered fiscal 2024 with a sharp focus on the evolving external environment, headlined by moderating inflation, stabilizing supply chains, and a resilient but increasingly cautious consumer,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. “As we navigate this dynamic landscape, we remain committed to executing on our key priorities for this year, which are to continue to compete effectively, improve our supply chain efficiency, and maintain our disciplined approach to capital allocation. We will continue adapting to the changing environment, and we remain on track to deliver our fiscal 2024 financial objectives.”.

The stocks have a year to date performance of -22.17 percent and weekly performance of -0.93 percent. The stock has been moved at -18.59 percent over the last six months. The stock has performed -9.70 percent around the most recent 30 days and changed -19.16 percent over the most recent 3-months.

If compared to the average trading volume of 3.86M shares, GIS reached to a volume of 3041977 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about General Mills Inc. [GIS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GIS shares is $76.24 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GIS stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for General Mills Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on Sep-14-23.

The Average True Range (ATR) for General Mills Inc. is set at 1.13, with the Price to Sales ratio for GIS stock in the period of the last 12 months amounting to 1.85. The Price to Book ratio for the last quarter was 3.69, with the Price to Cash per share for the same quarter was set at 1.03. Price to Free Cash Flow for GIS in the course of the last twelve months was 17.84 with Quick ratio for the last quarter at 0.40.

GIS stock trade performance evaluation

General Mills Inc. [GIS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.93. With this latest performance, GIS shares dropped by -9.70% in over the last four-week period, additionally sinking by -18.59% over the last 6 months – not to mention a drop of -14.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GIS stock in for the last two-week period is set at 24.80, with the RSI for the last a single of trading hit 24.81, and the three-weeks RSI is set at 25.88 for General Mills Inc. [GIS]. The present Moving Average for the last 50 days of trading for this stock 71.84, while it was recorded at 65.56 for the last single week of trading, and 80.29 for the last 200 days.

General Mills Inc. [GIS]: An insightful look at the core fundamentals

General Mills Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.70.

Earnings per share (EPS) analysis for General Mills Inc. [GIS] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GIS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for General Mills Inc. go to 7.81%.

General Mills Inc. [GIS]: Institutional Ownership

The top three institutional holders of GIS stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in GIS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in GIS stock with ownership which is approximately 5.7381%.

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