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.
General Mills Stock Up 0.9 %
Shares of General Mills stock opened at $77.03 on Wednesday. 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 has a 52-week low of $56.67 and a 52-week high of $77.71. The stock has a market capitalization of $46.00 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.54 and a beta of 0.35. The company's 50 day moving average price is $72.39 and its 200-day moving average price is $69.80.
General Mills (NYSE:GIS - Get Rating) last released its quarterly earnings results on Wednesday, June 29th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.11. The business had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.81 billion. General Mills had a net margin of 14.25% and a return on equity of 23.74%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. Equities research analysts forecast that General Mills will post 4 EPS for the current year.
General Mills Dividend Announcement
The business also recently declared a dividend, which was paid on Thursday, July 7th. Investors 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 (DPR) is currently 48.87%.
Analyst Ratings Changes
Several research firms have commented on GIS. Royal Bank of Canada lifted their price target on shares of General Mills from $66.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Friday, July 1st. BMO Capital Markets lifted 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. Credit Suisse Group set a $74.00 price target on shares of General Mills in a research note on Tuesday, July 19th. Citigroup lifted their price target on shares of General Mills from $82.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, June 30th. Finally, Piper Sandler raised their target price on shares of General Mills from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $72.73.
Insider Activity at General Mills
In related news, insider Sean N. Walker sold 29,489 shares of General Mills stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $75.00, for a total value of $2,211,675.00. Following the sale, the insider now owns 89,989 shares in the company, valued at $6,749,175. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other General Mills news, CAO Mark A. Pallot sold 2,255 shares of the firm's stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $74.66, for a total transaction of $168,358.30. Following the completion of the transaction, the chief accounting officer now owns 17,087 shares of the company's stock, valued at $1,275,715.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean N. Walker sold 29,489 shares of the firm's stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $75.00, for a total value of $2,211,675.00. Following the transaction, the insider now directly owns 89,989 shares of the company's stock, valued at approximately $6,749,175. The disclosure for this sale can be found here. Insiders have sold a total of 58,422 shares of company stock worth $4,397,556 over the last quarter. Corporate insiders own 0.53% of the company's stock.
