General Mills (NYSE:GIS – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.790-$3.866 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.740. The company issued revenue guidance of -.
A number of equities analysts have recently commented on the stock. Zacks Investment Research cut shares of General Mills from a buy rating to a hold rating and set a $67.00 target price on the stock. in a report on Friday, November 26th. Evercore ISI reaffirmed a hold rating and issued a $65.00 target price on shares of General Mills in a report on Thursday, December 23rd. JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $67.00 to $64.00 and set a neutral rating on the stock in a research note on Tuesday. Credit Suisse Group boosted their price objective on shares of General Mills from $63.00 to $65.00 and gave the company a neutral rating in a research note on Wednesday, December 22nd. Finally, StockNews.com cut shares of General Mills from a buy rating to a hold rating in a research note on Friday, February 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $66.60.
Shares of NYSE GIS traded up $2.97 during trading on Wednesday, hitting $65.65. 99,810 shares of the company were exchanged, compared to its average volume of 3,905,120. The company has a market cap of $39.60 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.22 and a beta of 0.52. General Mills has a 1 year low of $56.67 and a 1 year high of $69.95. The firm’s fifty day moving average price is $66.88 and its 200 day moving average price is $64.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.62.
General Mills (NYSE:GIS – Get Rating) last issued its earnings results on Wednesday, March 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.55 billion. General Mills had a net margin of 12.02% and a return on equity of 23.58%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. On average, research analysts forecast that General Mills will post 3.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Investors of record on Friday, April 8th will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, April 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.11%. General Mills’s dividend payout ratio is presently 56.20%.
In related news, insider Bethany C. Quam sold 14,455 shares of the business’s stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $69.02, for a total value of $997,684.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jodi J. Benson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 28th. The stock was sold at an average price of $66.59, for a total transaction of $332,950.00. The disclosure for this sale can be found here. Insiders sold a total of 29,992 shares of company stock worth $2,057,303 over the last quarter. Insiders own 0.53% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in GIS. EverSource Wealth Advisors LLC purchased a new position in General Mills in the 4th quarter valued at about $42,000. Monolith Advisors acquired a new position in shares of General Mills during the 4th quarter valued at about $65,000. First Community Trust NA acquired a new position in shares of General Mills during the 4th quarter valued at about $70,000. Salem Investment Counselors Inc. increased its stake in shares of General Mills by 25.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 2,354 shares of the company’s stock valued at $159,000 after acquiring an additional 476 shares during the last quarter. Finally, Zullo Investment Group Inc. acquired a new position in shares of General Mills during the 4th quarter valued at about $176,000. Institutional investors own 73.72% of the company’s stock.
About General Mills (Get Rating)
General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.
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