However, only one brokerage, UBS, reduced its price target (from $71 to $67) on the company's shares.
On Wednesday, the company earned a profit of $409 million, or $0.67 a share, for the first quarter. On an adjusted basis, it earned $0.78 and came in above the Street estimates of $0.75 per share. Its net sales dipped 7.1 percent to $3.91 billion, which was in line with expectations. The company maintained its outlook for full the year.
One of the concerns among the analysts is that there is a lack of revenue drivers at least in the immediate term to drive the stock higher. This was also quite evident when the management faced queries on revenue trend, especially in the remainder of the current fiscal year during the conference call.
The following are the brokerages' ratings and price objectives on General Mills shares.
At time of writing , the stock traded at $64.94, down $0.32, or 0.49 percent.
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