General Mills Stock Slides as Pet Business Falters

The security is distancing itself from a recent record high

Deputy Editor
Dec 20, 2022 at 10:57 AM
facebook X logo linkedin

General Mills Inc (NYSE:GIS) stock is sliding, despite its fiscal second-quarter earnings beat and raised forecast, as the company's comments cast a shadow. The retailer said its pet food business saw inventory reductions at some key retailers, and J.P. Morgan noted that "the quality of the quarter won't be considered great given that the highly valued pet business surprised so much to the downside." General Mills also pointed to higher raw material costs amid high inflation. At last glance, GIS was down 3.9% at $83.74. 

This negative price action has General Mills stock distancing itself from its Dec. 14 record high of $88.34. The equity's 40-day moving average seems to be keeping losses in check, however. Year-to-date, the equity is up 24.5%. 

Options traders are targeting GIS at six times the intraday average today, with 4,021 calls and 6,427 puts exchanged. The January 2023 85-strike put is the most active contract. 

The brokerage bunch leans bearish, with 10 of the 14 in coverage carrying a "hold" or worse rating. Plus, the 12-month consensus target price of $80.44 is a 4.3% discount to current levels. 



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI