General Mills, Inc. [GIS] stock Initiated by Citigroup analyst, price target now $67

MAR Stock

General Mills, Inc. [NYSE: GIS] traded at a low on Wednesday, posting a -2.23 loss after which it closed the day’ session at $68.99. The company report on March 20, 2024 at 7:00 AM that General Mills Reports Fiscal 2024 Third-quarter Results.

Net sales of $5.1 billion were down 1 percent in the third quarter and organic net sales1 were also down 1 percent; on a 2-year compound growth basis, net sales were up 6 percent and organic net sales were up 7 percent.

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Operating profit of $911 million was up 25 percent; adjusted operating profit of $914 million increased 14 percent in constant currency.

The results of the trading session contributed to over 4382701 shares changing hands. Over the past one week, the price volatility of General Mills, Inc. stands at 1.44% while the volatility over the past one month is 1.95%.

The market cap for GIS stock reached $38.95 billion, with 586.60 million shares outstanding and 562.73 million shares in the current float. Compared to the average trading volume of 4.31M shares, GIS reached a trading volume of 4382701 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $73.78 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 2.83. 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.

Citigroup have made an estimate for General Mills, Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 01, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $74 to $72. The new note on the price target was released on December 21, 2023, representing the official price target for General Mills, Inc. stock. Previously, the target price had yet another raise to $74, while HSBC Securities analysts kept a Hold rating on GIS stock. On September 18, 2023, analysts decreased their price target for GIS shares from 88 to 77.

The Average True Range (ATR) for General Mills, Inc. is set at 1.29, with the Price to Sales ratio for GIS stock in the period of the last 12 months amounting to 1.93. The Price to Book ratio for the last quarter was 4.13, with the Price to Cash per share for the same quarter was set at 1.04. Price to Free Cash Flow for GIS in the course of the last twelve months was 16.46 with Quick ratio for the last quarter at 0.40.

How has GIS stock performed recently?

General Mills, Inc. [GIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.95. With this latest performance, GIS shares gained by 7.18% in over the last four-week period, additionally plugging by 10.24% over the last 6 months – not to mention a drop of -19.27% 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 58.78, with the RSI for the last a single of trading hit 55.76, and the three-weeks RSI is set at 58.88 for General Mills, Inc. [GIS]. The present Moving Average for the last 50 days of trading for this stock 65.66, while it was recorded at 69.86 for the last single week of trading, and 67.49 for the last 200 days.

General Mills, Inc. [GIS]: Deeper insight into the fundamentals

General Mills, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.66.

Earnings analysis for General Mills, Inc. [GIS]

With the latest financial reports released by the company, General Mills, Inc. posted 1.12/share EPS, while the average EPS was predicted by analysts to be reported at 1.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.70%. 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 7.46%.

Insider trade positions for General Mills, Inc. [GIS]

The top three institutional holders of GIS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GIS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GIS stock with ownership which is approximately 5.8386%.

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