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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.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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