Equities research analysts expect General Mills, Inc. (NYSE:GIS) to announce sales of $4.22 billion for the current quarter, according to Zacks. Five analysts have provided estimates for General Mills’ earnings. The highest sales estimate is $4.28 billion and the lowest is $4.17 billion. General Mills posted sales of $3.89 billion in the same quarter last year, which suggests a positive year over year growth rate of 8.5%. The business is expected to issue its next quarterly earnings results on Wednesday, June 26th.
On average, analysts expect that General Mills will report full year sales of $16.93 billion for the current financial year, with estimates ranging from $16.87 billion to $16.99 billion. For the next financial year, analysts anticipate that the firm will report sales of $17.28 billion, with estimates ranging from $17.11 billion to $17.40 billion. Zacks’ sales averages are an average based on a survey of analysts that cover General Mills.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis.
GIS has been the subject of several research reports. Deutsche Bank upgraded General Mills from a “hold” rating to a “buy” rating and boosted their price target for the stock from $43.00 to $54.00 in a research report on Thursday, March 14th. Wells Fargo & Co boosted their price target on General Mills from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 25th. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price target on shares of General Mills in a research report on Wednesday, March 20th. TheStreet upgraded General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Finally, BMO Capital Markets upped their target price on General Mills from $51.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. General Mills presently has a consensus rating of “Hold” and a consensus price target of $50.17.
In other news, insider Shawn P. Ogrady sold 118,152 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $48.50, for a total value of $5,730,372.00. Following the transaction, the insider now owns 187,891 shares of the company’s stock, valued at approximately $9,112,713.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Donal L. Mulligan sold 120,722 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.50, for a total value of $5,734,295.00. Following the completion of the transaction, the chief financial officer now directly owns 252,326 shares in the company, valued at approximately $11,985,485. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,222 shares of company stock valued at $21,764,784. 0.59% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Morgan Stanley lifted its stake in General Mills by 6.6% during the 3rd quarter. Morgan Stanley now owns 5,688,684 shares of the company’s stock worth $244,156,000 after acquiring an additional 354,443 shares in the last quarter. Bridge Creek Capital Management LLC lifted its stake in General Mills by 10.0% during the 4th quarter. Bridge Creek Capital Management LLC now owns 82,199 shares of the company’s stock worth $3,201,000 after acquiring an additional 7,500 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in General Mills during the 4th quarter worth about $5,548,000. Sterling Investment Advisors Ltd. lifted its stake in General Mills by 4,872.9% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 17,604 shares of the company’s stock worth $685,000 after acquiring an additional 17,250 shares in the last quarter. Finally, Bell Asset Management Ltd acquired a new position in General Mills during the 4th quarter worth about $7,017,000. 69.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of GIS traded down $0.62 during trading hours on Tuesday, hitting $52.81. 3,033,908 shares of the stock were exchanged, compared to its average volume of 4,437,712. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55. General Mills has a 12-month low of $36.42 and a 12-month high of $53.66. The stock has a market capitalization of $31.62 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.38 and a beta of 0.77.
General Mills Company Profile
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, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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