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.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on GIS shares. Morgan Stanley raised 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. Royal Bank of Canada boosted their price objective on shares of General Mills from $66.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Friday, July 1st. 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 research report on Thursday, June 30th. Credit Suisse Group set a $74.00 target price on shares of General Mills in a report on Tuesday, July 19th. Finally, Piper Sandler lifted 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 investment 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 presently has a consensus rating of "Hold" and a consensus price target of $72.73.
General Mills Stock Up 0.5 %
NYSE:GIS traded up $0.39 on Monday, reaching $76.56. The company had a trading volume of 61,896 shares, compared to its average volume of 3,816,180. The firm has a market capitalization of $45.72 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.54 and a beta of 0.35. 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 $76.94. The company's fifty day moving average is $72.11 and its 200-day moving average is $69.70.
General Mills (NYSE:GIS - Get Rating) last issued its earnings results on Wednesday, June 29th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.11. The company 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%. General Mills's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. On average, research analysts forecast that General Mills will post 4 earnings per share for the current fiscal year.
General Mills Dividend Announcement
The firm also recently declared a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were paid 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%.
Insiders Place Their Bets
In related 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 transaction, the insider now directly owns 89,989 shares in the company, valued at $6,749,175. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Dana M. Mcnabb sold 10,993 shares of the company's stock in a transaction on Wednesday, July 6th. The shares were 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 owns 14,884 shares of the company's stock, valued at approximately $1,133,565.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean N. Walker sold 29,489 shares of the company's stock in a transaction on 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 sale, the insider now owns 89,989 shares of the company's stock, valued at $6,749,175. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,737 shares of company stock worth $3,217,260. 0.53% of the stock is currently owned by company insiders.
