General Mills (NYSE:GIS) Stock Falls 2.3% – Time to Sell?

General Mills, Inc. (NYSE:GIS)’s stock price traded down 2.3% during mid-day trading on Friday. The company traded as low as $34.24 and last traded at $34.3870. Approximately 6,186,602 shares traded hands during trading, a decline of 35% from the average session volume of 9,560,299 shares. The stock had previously closed at $35.18.

More General Mills News

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: Expansion into high-protein snacking: General Mills has launched EPIC Sticks, a four-flavor meat-snack line made with grass-fed beef or free-range chicken. Its gluten-free, dairy-free and Paleo-friendly positioning gives the company exposure to growing demand for convenient, protein-rich snacks and could broaden EPIC’s shelf presence. How EPIC Sticks Launch At General Mills Has Changed Its Investment Story
• Positive Sentiment: Recent earnings modestly exceeded expectations: General Mills previously reported adjusted earnings of $0.75 per share versus the $0.72 consensus estimate, while revenue of $4.39 billion also topped forecasts. The stock was reported to be about 1% higher since that earnings release, although analysts are watching whether estimates support continued momentum. General Mills Up 1% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Valuation debate: Commentary suggests the stock’s roughly 38% three-year decline may have reset expectations, but investors still need evidence that General Mills can stabilize its sales base and restore growth. General Mills Stock Seems About Right On Its 38% Slide
• Negative Sentiment: Fundamental and competitive concerns remain: General Mills faces established food giants and agile snack competitors, including Chomps and PepsiCo’s Good Warrior. Revenue in the latest reported quarter declined 2.8% year over year, and commentary questioning the company’s fundamentals could limit investor enthusiasm despite new product launches. 3 Mid-Cap Stocks With Questionable Fundamentals

Analyst Upgrades and Downgrades

GIS has been the subject of several research analyst reports. Sanford C. Bernstein reiterated an “underperform” rating and issued a $30.00 price objective on shares of General Mills in a report on Thursday, September 24th. Bank of America reissued a “neutral” rating on shares of General Mills in a research report on Thursday, September 24th. Piper Sandler restated an “overweight” rating on shares of General Mills in a research note on Thursday, September 24th. Evercore set a $38.00 price target on shares of General Mills in a report on Monday, September 14th. Finally, TD Cowen raised their price target on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, September 24th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, General Mills currently has an average rating of “Reduce” and an average price target of $36.59.

General Mills Stock Down 2.3%

The company has a quick ratio of 0.39, a current ratio of 0.70 and a debt-to-equity ratio of 1.66. The company has a fifty day simple moving average of $35.93 and a 200-day simple moving average of $35.55. The firm has a market cap of $18.39 billion, a P/E ratio of -20.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.03.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 23rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.35 billion. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. On average, equities analysts anticipate that General Mills, Inc. will post 3.08 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, October 13th. General Mills’s payout ratio is -146.99%.

Institutional Trading of General Mills

Several hedge funds have recently modified their holdings of GIS. MCF Advisors LLC increased its position in General Mills by 7.8% during the second quarter. MCF Advisors LLC now owns 3,812 shares of the company’s stock valued at $133,000 after acquiring an additional 277 shares during the last quarter. Triumph Capital Management lifted its holdings in shares of General Mills by 45.0% in the 2nd quarter. Triumph Capital Management now owns 915 shares of the company’s stock worth $32,000 after acquiring an additional 284 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of General Mills by 0.6% in the 1st quarter. HB Wealth Management LLC now owns 48,145 shares of the company’s stock worth $1,792,000 after acquiring an additional 309 shares during the last quarter. Union Savings Bank lifted its holdings in shares of General Mills by 23.7% in the 3rd quarter. Union Savings Bank now owns 1,701 shares of the company’s stock worth $55,000 after acquiring an additional 326 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of General Mills by 0.7% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 50,595 shares of the company’s stock worth $1,627,000 after acquiring an additional 339 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company’s brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie’s, Totino’s, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.