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 Trading Up 0.4 %
Shares of NYSE:GIS traded up $0.34 during mid-day trading on Tuesday, hitting $76.98. The stock had a trading volume of 24,759 shares, compared to its average volume of 3,245,056. 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 1 year low of $56.67 and a 1 year high of $78.24. The business has a 50 day moving average price of $73.05 and a two-hundred day moving average price of $70.05. The firm has a market cap of $45.86 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 2.56 and a beta of 0.35.
General Mills (NYSE:GIS - Get Rating) last issued its earnings results on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.01 by $0.11. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, equities analysts anticipate that General Mills will post 4 EPS for the current fiscal year.
General Mills Announces Dividend
The business also recently disclosed a dividend, which was paid on Thursday, July 7th. Shareholders of record on Friday, July 8th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, July 7th. General Mills's payout ratio is currently 48.87%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of General Mills from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, June 30th. Royal Bank of Canada lifted their target price on shares of General Mills from $66.00 to $68.00 and gave the company a "sector perform" rating in a research report on Friday, July 1st. Credit Suisse Group set a $74.00 target price on shares of General Mills in a research report on Tuesday, July 19th. BMO Capital Markets boosted their price objective on shares of General Mills from $66.00 to $80.00 and gave the stock a "market perform" rating in a report on Thursday, June 30th. Finally, Citigroup boosted their price objective on shares of General Mills from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $72.73.
Insider Buying and Selling at General Mills
In other General Mills news, CAO Mark A. Pallot sold 2,255 shares of the business's stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $74.66, for a total transaction of $168,358.30. Following the transaction, the chief accounting officer now directly owns 17,087 shares of the company's stock, valued at approximately $1,275,715.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jodi J. Benson sold 15,685 shares of the company's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $75.25, for a total value of $1,180,296.25. Following the sale, the insider now directly owns 38,085 shares of the company's stock, valued at approximately $2,865,896.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark A. Pallot sold 2,255 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer now directly owns 17,087 shares in the company, valued at $1,275,715.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,422 shares of company stock valued at $4,397,556. 0.67% of the stock is currently owned by company insiders.
