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 0.7 %
GIS Stock opened at $77.58 on Thursday. The firm has a market cap of $46.33 billion, a PE ratio of 17.55, a PEG ratio of 2.54 and a beta of 0.35. General Mills has a 1 year low of $56.67 and a 1 year high of $77.73. The company has a fifty day simple moving average of $72.39 and a 200 day simple moving average of $69.80. The company has a current ratio of 0.63, a quick ratio of 0.40 and a debt-to-equity ratio of 0.85.
General Mills (NYSE:GIS - Get Rating) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.11. The company 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 business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Sell-side analysts anticipate that General Mills will post 4 EPS for the current fiscal year.
General Mills Announces Dividend
The company also recently declared a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were given a $0.54 dividend. The ex-dividend date of this dividend was Thursday, July 7th. General Mills's dividend payout ratio is 48.87%.
Analyst Ratings Changes
A number of equities research analysts have commented on GIS shares. BMO Capital Markets increased their target price on General Mills from $66.00 to $80.00 and gave the company a "market perform" rating in a report on Thursday, June 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Mills from $75.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, June 30th. Citigroup raised their target price on shares of General Mills from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, June 30th. Piper Sandler upped 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. Finally, Morgan Stanley lifted their target price on General Mills from $56.00 to $66.00 and gave the company an "underweight" rating in a report on Friday, July 1st. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $72.73.
Insider Buying and Selling
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 transaction, the insider now owns 89,989 shares in the company, valued at approximately $6,749,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean N. Walker sold 29,489 shares of the business's stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $75.00, for a total transaction of $2,211,675.00. Following the transaction, the insider now directly owns 89,989 shares in the company, valued at approximately $6,749,175. The disclosure for this sale can be found here. In the last three months, insiders sold 58,422 shares of company stock valued at $4,397,556. Company insiders own 0.53% of the company's stock.
