Analysts expect General Mills, Inc. (NYSE:GIS – Get Rating) to announce sales of $4.80 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for General Mills’ earnings. The highest sales estimate is $4.92 billion and the lowest is $4.73 billion. General Mills posted sales of $4.52 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The firm is scheduled to issue its next earnings results on Monday, January 1st.
On average, analysts expect that General Mills will report full year sales of $18.90 billion for the current financial year, with estimates ranging from $18.83 billion to $19.02 billion. For the next year, analysts expect that the company will report sales of $19.12 billion, with estimates ranging from $18.89 billion to $19.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for General Mills.
General Mills (NYSE:GIS – Get Rating) last announced its earnings results on Wednesday, March 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.55 billion. General Mills had a return on equity of 23.10% and a net margin of 12.36%. General Mills’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share.
GIS has been the topic of a number of recent research reports. StockNews.com raised General Mills from a “hold” rating to a “buy” rating in a research report on Thursday, March 24th. Piper Sandler boosted their price objective on shares of General Mills from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, March 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Mills from $73.00 to $75.00 in a report on Thursday, May 26th. UBS Group began coverage on shares of General Mills in a report on Wednesday, March 30th. They set a “neutral” rating and a $69.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of General Mills from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.27.
In related news, insider Shawn P. Ogrady sold 27,157 shares of the company’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $69.50, for a total transaction of $1,887,411.50. Following the completion of the sale, the insider now directly owns 87,554 shares in the company, valued at approximately $6,085,003. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline Williams-Roll sold 10,911 shares of the company’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $68.61, for a total transaction of $748,603.71. Following the sale, the insider now owns 33,878 shares of the company’s stock, valued at $2,324,369.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,633 shares of company stock worth $5,768,339. Insiders own 0.53% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Marquette Asset Management LLC purchased a new stake in shares of General Mills during the 1st quarter valued at about $26,000. Joseph Group Capital Management bought a new stake in General Mills during the 4th quarter worth approximately $44,000. Dravo Bay LLC bought a new stake in General Mills during the 1st quarter worth approximately $27,000. Core Alternative Capital raised its position in shares of General Mills by 1,160.6% during the first quarter. Core Alternative Capital now owns 416 shares of the company’s stock valued at $28,000 after buying an additional 383 shares during the last quarter. Finally, NuWave Investment Management LLC bought a new stake in shares of General Mills during the fourth quarter valued at approximately $28,000. 74.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE GIS opened at $69.89 on Tuesday. The business’s 50-day moving average price is $69.92 and its two-hundred day moving average price is $67.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.74 and a quick ratio of 0.49. General Mills has a one year low of $56.67 and a one year high of $73.99. The company has a market capitalization of $42.09 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 2.43 and a beta of 0.45.
General Mills Company Profile (Get Rating)
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.
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