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GIS

General Mills

$45.41

-0.1 (-0.22%)

14:30
03/22/18
03/22
14:30
03/22/18
14:30

Notable put spread in General Mills as shares extend losses

Notable put spread in General Mills as shares extend losses. The stock down 20c to $45.31 after an 8.9% post-earnings slide Wednesday and 10K Apr 52.5 - Jul 45 put spreads trade at $5.03. The Apr 52.5 puts likely cover (at 7.63 today) a matching block opened for $3.70 on 10/2/17 with shares at $51.75. The investor is closing the puts after a 12.4% decline in shares to monetize the nearly $4M in profits. Now a new position in Jul 45 puts is being opened for a cash outlay of $2.6M and the roll - likely a hedge against stock - reflects concerns about further losses through the next earnings cycle in late-June.

GIS General Mills
$45.41

-0.1 (-0.22%)

03/22/18
SOCG
03/22/18
UPGRADE
Target $48
SOCG
Hold
Societe Generale upgrades General Mills to Hold after yesterday's selloff
Societe Generale analyst Warren Ackerman upgraded General Mills to Hold from Sell with an unchanged price target of $48. The analyst cites valuation for the upgrade following yesterday's post-earnings selloff. He says that while the quarter disappointed on margins, the main highlight for him was the recovery in sales growth. Ackerman believes the shares at current levels reflect the main concerns.
03/22/18
SBSH
03/22/18
NO CHANGE
Target $61
SBSH
Buy
General Mills post-earnings selloff yesterday overdone, says Citi
Citi analyst David Driscoll views the post-earning selloff yesterday in shares of General Mills as overdone. The analyst lowered his price target for the stock to $61 from $69 and keeps a Buy rating on the name. General Mills produced weak margins and lowered its full year earnings guidance by 3% due to higher than expected cost inflation, led by freight, Driscoll tells investors in a research note. He believes, however, that General Mills' current margin issues are "largely of a transitory nature and related to poor forecasting," which has caused a delay in its response to higher freight.
03/22/18
FBCO
03/22/18
NO CHANGE
Target $46
FBCO
Neutral
General Mills price target lowered to $46 from $55 at Credit Suisse
Credit Suisse analyst Robert Moskow lowered his price target for General Mills to $46 from $55 to reflect the company's Q3 miss and guidance reduction and his view that margin pressure in the core and EPS dilution from the Blue Buffalo transaction will negatively impact results in FY 19. The analyst reiterates a Neutral rating on the shares.
03/22/18
03/22/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. American Axle (AXL) and BorgWarner (BWA) were double-upgraded to Overweight from Underweight at Morgan Stanley. 2. GlaxoSmithKline (GSK) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Vincent Meunier saying the company's capital allocation strategy and operational repositioning show "clear signs of improvement." 3. General Mills (GIS) upgraded to Hold from Sell at Societe Generale with analyst Warren Ackerman citing valuation for the upgrade following yesterday's post-earnings selloff. 4. Pandora (P) upgraded to Strong Buy from Market Perform at Raymond James with analyst Justin Patterson saying AdsWizz will expand TAM by 2x to $28B, accelerate tech initiatives, materially expand reach, and could be worth approximately $4 per share. 5. Southwest (LUV) upgraded to Buy on valuation at Buckingham with analyst Daniel McKenzie saying shares are oversold and maintained a $70 price target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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