Bank of America Securities Sticks to Their Hold Rating for General Mills (GIS)

In a report released today, Peter Galbo from Bank of America Securities maintained a Hold rating on General Mills, with a price target of $36.00.

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Galbo covers the Consumer Defensive sector, focusing on stocks such as Coca-Cola, Constellation Brands, and General Mills. According to TipRanks, Galbo has an average return of 2.1% and a 54.11% success rate on recommended stocks.

In addition to Bank of America Securities, General Mills also received a Hold from Goldman Sachs’s Leah Jordan in a report issued on June 2. However, on June 10, Bernstein maintained a Sell rating on General Mills (NYSE: GIS).

Based on General Mills’ latest earnings release for the quarter ending February 22, the company reported a quarterly revenue of $4.44 billion and a net profit of $303.1 million. In comparison, last year the company earned a revenue of $4.84 billion and had a net profit of $625.6 million

Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GIS in relation to earlier this year. Last month, Jacqueline Williams-Roll, the CHRO of GIS sold 20,000.00 shares for a total of $682,200.00.