Goldman Sachs Downgrades General Mills to “Sell” (GIS)
Goldman Sachs gave a negatively outlook on General Mills, Inc. (GIS) on Friday as the analysts believe the consumer foods manufacturer will lose market share and miss earnings estimates.
The analysts downgraded GIS from “Neutral” to “Sell” and see shares reaching $40. This target suggests a -3.8% downside to Thursday’s closing price of $41.60.
General Mills shares were down 66 cents, or -1.59%, during premarket trading on Friday. The stock is up +3.82% over the past year.
The Bottom Line
Shares of General Mills (GIS) have a 3.17% dividend yield, based on last night’s closing stock price of $41.60. The stock has technical support in the $39 price area. The shares are trading near all-time highs.
General Mills, Inc. (GIS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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