General Mills (NYSE:GIS) Announces Quarterly Earnings Results

General Mills (NYSE:GIS - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02, Zacks reports. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. General Mills's revenue was down 3.3% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. General Mills updated its FY 2026 guidance to 3.580-3.790 EPS.

General Mills Price Performance

General Mills stock traded down $0.30 during mid-day trading on Thursday, hitting $50.38. The stock had a trading volume of 7,684,104 shares, compared to its average volume of 4,606,334. General Mills has a one year low of $50.25 and a one year high of $75.90. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $27.77 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.25 and a beta of 0.02. The firm's 50 day moving average is $54.62 and its 200 day moving average is $58.57.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.61 per share. This is a boost from General Mills's previous quarterly dividend of $0.60. The ex-dividend date is Thursday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.84%. General Mills's payout ratio is 52.75%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GIS shares. Jefferies Financial Group boosted their price objective on shares of General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their price target on General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Bank of America dropped their price objective on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday. Stifel Nicolaus decreased their target price on General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Barclays dropped their price target on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $60.50.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.