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
Several analysts recently issued reports on the company. Piper Sandler boosted their price target on General Mills from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, June 30th. Citigroup boosted their price target on General Mills from $82.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, June 30th. Morgan Stanley boosted their price target on General Mills from $56.00 to $66.00 and gave the company an "underweight" rating in a research note on Friday, July 1st. BMO Capital Markets boosted their price target on General Mills from $66.00 to $80.00 and gave the company a "market perform" rating in a research note on Thursday, June 30th. Finally, Credit Suisse Group set a $74.00 target price on General Mills in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, General Mills presently has a consensus rating of "Hold" and an average price target of $72.73.
General Mills Stock Down 0.0 %
Shares of GIS Stock traded down $0.03 during trading hours on Monday, reaching $76.97. The company had a trading volume of 85,736 shares, compared to its average volume of 3,776,650. General Mills has a 12 month low of $56.67 and a 12 month high of $78.24. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.63 and a quick ratio of 0.40. The business has a fifty day simple moving average of $72.89 and a 200-day simple moving average of $70.00. The company has a market cap of $45.85 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 2.56 and a beta of 0.35.
General Mills (NYSE:GIS - Get Rating) last posted its earnings results on Wednesday, June 29th. The company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.11. General Mills had a return on equity of 23.74% and a net margin of 14.25%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the company earned $0.91 earnings per share. The company's revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts expect that General Mills will post 4 earnings per share for the current fiscal year.
General Mills Announces Dividend
The business also recently announced a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, July 7th. General Mills's dividend payout ratio is presently 48.87%.
Insider Activity
In related news, insider Dana M. Mcnabb sold 10,993 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $76.16, for a total transaction of $837,226.88. Following the completion of the sale, the insider now directly owns 14,884 shares of the company's stock, valued at $1,133,565.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dana M. Mcnabb sold 10,993 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $76.16, for a total transaction of $837,226.88. Following the completion of the sale, the insider now directly owns 14,884 shares of the company's stock, valued at $1,133,565.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean N. Walker sold 29,489 shares of the stock in a transaction that occurred 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 directly owns 89,989 shares of the company's stock, valued at $6,749,175. The disclosure for this sale can be found here. Insiders have sold 58,422 shares of company stock worth $4,397,556 over the last 90 days. 0.67% of the stock is currently owned by corporate insiders.
