Analysts predict that General Mills, Inc. (NYSE:GIS) will post sales of $4.23 billion for the current quarter, according to Zacks. Five analysts have issued estimates for General Mills’ earnings. The highest sales estimate is $4.31 billion and the lowest is $4.17 billion. General Mills posted sales of $3.89 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The firm is expected to report its next earnings report before the market opens on Wednesday, June 26th.
On average, analysts expect that General Mills will report full-year sales of $16.93 billion for the current fiscal year, with estimates ranging from $16.87 billion to $17.01 billion. For the next year, analysts anticipate that the company will post sales of $17.28 billion, with estimates ranging from $17.12 billion to $17.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow General Mills.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.14. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business earned $0.79 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis.
Several equities analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of General Mills in a report on Tuesday. They set an “in-line” rating and a $56.00 target price for the company. Wells Fargo & Co lifted their target price on shares of General Mills from $53.00 to $56.00 and gave the company a “positive” rating in a report on Friday, March 22nd. Standpoint Research lowered shares of General Mills from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. Citigroup reiterated a “top pick” rating and set a $60.00 target price (up from $54.00) on shares of General Mills in a report on Thursday, March 21st. Finally, Bank of America reiterated a “neutral” rating and set a $49.00 target price on shares of General Mills in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. General Mills currently has an average rating of “Hold” and a consensus price target of $50.16.
In related news, insider John R. Church sold 4,719 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total transaction of $239,630.82. Following the completion of the sale, the insider now owns 34,112 shares of the company’s stock, valued at $1,732,207.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donal L. Mulligan sold 126,337 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $50.00, for a total transaction of $6,316,850.00. Following the sale, the chief financial officer now directly owns 378,663 shares of the company’s stock, valued at approximately $18,933,150. The disclosure for this sale can be found here. Insiders have sold 323,500 shares of company stock valued at $16,030,489 in the last three months. 0.59% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of GIS. Norges Bank bought a new stake in General Mills in the 4th quarter worth approximately $208,406,000. Renaissance Technologies LLC grew its position in General Mills by 236.3% in the 1st quarter. Renaissance Technologies LLC now owns 3,673,984 shares of the company’s stock worth $190,129,000 after purchasing an additional 2,581,564 shares during the period. Oregon Public Employees Retirement Fund grew its position in General Mills by 3,788.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,531,100 shares of the company’s stock worth $65,000 after purchasing an additional 2,466,013 shares during the period. FMR LLC grew its position in General Mills by 92.9% in the 1st quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after purchasing an additional 1,652,275 shares during the period. Finally, BlackRock Inc. grew its position in General Mills by 2.6% in the 4th quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock worth $1,593,046,000 after purchasing an additional 1,049,722 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.
GIS stock opened at $52.61 on Thursday. General Mills has a 52-week low of $36.42 and a 52-week high of $53.66. The company has a market cap of $31.36 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 2.24 and a beta of 0.75. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61.
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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