General Mills (NYSE:GIS) released its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82, Bloomberg Earnings reports. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS.
Shares of General Mills (GIS) traded down $0.54 during trading on Thursday, hitting $58.09. The company’s stock had a trading volume of 2,878,400 shares, compared to its average volume of 4,210,000. General Mills has a fifty-two week low of $49.65 and a fifty-two week high of $63.73. The firm has a market capitalization of $33,060.00, a PE ratio of 21.28, a P/E/G ratio of 2.64 and a beta of 0.66. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.37%. General Mills’s payout ratio is currently 71.79%.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Several research analysts have recently commented on GIS shares. Zacks Investment Research raised General Mills from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Friday, September 15th. Susquehanna Bancshares restated a “hold” rating and set a $58.00 target price on shares of General Mills in a research note on Tuesday, September 19th. Royal Bank of Canada dropped their target price on General Mills from $62.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 21st. Bank of America dropped their target price on General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, September 21st. Finally, Morgan Stanley restated an “equal weight” rating and set a $52.00 target price (down from $55.00) on shares of General Mills in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.17.
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General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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