General Mills, Inc. manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables. It also supplies branded and unbranded food products to the North American foodservice and commercial baking industries; and manufactures and markets pet food products, including dog and cat food. The company markets its products under the Annie's, Betty Crocker, Bisquick, Blue Buffalo, Blue Basics, Blue Freedom, Bugles, Cascadian Farm, Cheerios, Chex, Cinnamon Toast Crunch, Cocoa Puffs, Cookie Crisp, EPIC, Fiber One, Food Should Taste Good, Fruit by the Foot, Fruit Gushers, Fruit Roll-Ups, Gardetto's, Go-Gurt, Gold Medal, Golden Grahams, Häagen-Dazs, Helpers, Jus-Rol, Kitano, Kix, Lärabar, Latina, Liberté, Lucky Charms, Muir Glen, Nature Valley, Oatmeal Crisp, Old El Paso, Oui, Pillsbury, Progresso, Raisin Nut Bran, Total, Totino's, Trix, Wanchai Ferry, Wheaties, Wilderness, Yoki, and Yoplait trademarks. It sells its products directly, as well as through broker and distribution arrangements to grocery stores, mass merchandisers, membership stores, natural food chains, e-commerce retailers, commercial and noncommercial foodservice distributors and operators, restaurants, convenience stores, and pet specialty stores, as well as drug, dollar, and discount chains. The company operates 466 leased and 392 franchise ice cream parlors. General Mills, Inc. was founded in 1866 and is headquartered in Minneapolis, Minnesota.
Analyst Upgrades and Downgrades
A number of research analysts have commented on GIS shares. Piper Sandler lifted their price objective on shares of General Mills from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, June 30th. BMO Capital Markets boosted their price target on shares of General Mills from $66.00 to $80.00 and gave the stock a "market perform" rating in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Mills from $75.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, June 30th. Morgan Stanley increased their target price on General Mills from $56.00 to $66.00 and gave the stock an "underweight" rating in a research note on Friday, July 1st. Finally, Royal Bank of Canada lifted their price target on General Mills from $66.00 to $68.00 and gave the company a "sector perform" rating in a research note on Friday, July 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $72.73.
General Mills Stock Performance
General Mills stock opened at $77.14 on Thursday. General Mills has a fifty-two week low of $56.67 and a fifty-two week high of $78.24. The company has a market capitalization of $45.95 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.58 and a beta of 0.35. The stock has a fifty day moving average of $73.38 and a two-hundred day moving average of $70.15. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.40 and a current ratio of 0.63.
General Mills (NYSE:GIS - Get Rating) last posted its quarterly earnings data on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.11. The firm had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.81 billion. General Mills had a return on equity of 23.74% and a net margin of 14.25%. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. On average, analysts anticipate that General Mills will post 4 EPS for the current fiscal year.
General Mills Announces Dividend
The company also recently disclosed a dividend, which was paid on Thursday, July 7th. Shareholders of record on Friday, July 8th were issued a $0.54 dividend. The ex-dividend date was Thursday, July 7th. General Mills's dividend payout ratio is currently 48.87%.
Insider Buying and Selling
In other news, insider Jodi J. Benson sold 15,685 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the transaction, the insider now owns 38,085 shares of the company's stock, valued at $2,865,896.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Mills news, insider Sean N. Walker sold 29,489 shares of the business's stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the completion of the transaction, the insider now directly owns 89,989 shares of the company's stock, valued at approximately $6,749,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi J. Benson sold 15,685 shares of the company's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the completion of the transaction, the insider now owns 38,085 shares of the company's stock, valued at approximately $2,865,896.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,422 shares of company stock worth $4,397,556. 0.67% of the stock is currently owned by corporate insiders.
