According to Zacks, “Although General Mills reported better-than-expected first-quarter fiscal 2017 earnings, revenues were in line with analysts’ expectation. Earnings and revenues dipped 1% and 7.1%, respectively, in the quarter with U.S. sales being hurt by its yogurt business. Even, organic sales were down 4%. Sales were weak in the core U.S. Retail segment as well as for the other segments. Sales and profits in the U.S. Retail segment have been soft over the past several quarters due to lower demand. Nonetheless, robust restructuring savings are making up for the sluggish revenue growth. Meanwhile, the company expects organic sales to improve over the remainder of FY17 as consumer-focused innovation begins to reap benefits. Though the company expects slower revenue growth in the next two years, focus on its Growth brands and categories should boost long-term sales.”
Other analysts also recently issued reports about the company. Citigroup Inc. reiterated a buy rating and issued a $76.00 price target (up from $72.00) on shares of General Mills in a report on Wednesday, June 29th. Morgan Stanley restated an equal weight rating and set a $63.00 target price on shares of General Mills in a research note on Thursday, June 30th. Bank of America Corp. restated a hold rating on shares of General Mills in a research note on Thursday, July 14th. Credit Suisse Group AG restated a hold rating on shares of General Mills in a research note on Thursday, July 14th. Finally, Susquehanna restated a hold rating and set a $59.00 target price on shares of General Mills in a research note on Tuesday, June 28th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $68.22.
Shares of General Mills (NYSE:GIS) opened at 64.08 on Friday. The stock has a market capitalization of $37.90 billion, a P/E ratio of 23.30 and a beta of 0.38. General Mills has a 1-year low of $53.53 and a 1-year high of $72.95. The firm’s 50-day moving average price is $68.40 and its 200 day moving average price is $66.21.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The firm earned $3.91 billion during the quarter. During the same quarter in the prior year, the company posted $0.79 earnings per share. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts expect that General Mills will post $3.10 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.00%. General Mills’s dividend payout ratio (DPR) is presently 69.82%.
In other news, insider John R. Church sold 99,373 shares of General Mills stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $71.17, for a total transaction of $7,072,376.41. Following the sale, the insider now owns 108,311 shares of the company’s stock, valued at $7,708,493.87. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter C. Erickson sold 83,850 shares of General Mills stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $71.90, for a total value of $6,028,815.00. Following the sale, the executive vice president now directly owns 213,669 shares in the company, valued at approximately $15,362,801.10. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Kelman Lazarov Inc. acquired a new stake in General Mills during the first quarter worth $519,000. Sigma Planning Corp boosted its stake in General Mills by 6.2% in the first quarter. Sigma Planning Corp now owns 28,050 shares of the company’s stock worth $1,777,000 after buying an additional 1,646 shares during the period. Woodley Farra Manion Portfolio Management Inc. boosted its stake in General Mills by 13.3% in the first quarter. Woodley Farra Manion Portfolio Management Inc. now owns 43,831 shares of the company’s stock worth $2,777,000 after buying an additional 5,140 shares during the period. Fisher Asset Management LLC boosted its stake in General Mills by 44.6% in the first quarter. Fisher Asset Management LLC now owns 6,748 shares of the company’s stock worth $421,000 after buying an additional 2,081 shares during the period. Finally, Joel Isaacson & Co. LLC boosted its stake in General Mills by 1.8% in the first quarter. Joel Isaacson & Co. LLC now owns 6,147 shares of the company’s stock worth $389,000 after buying an additional 110 shares during the period. 69.13% of the stock is currently owned by institutional investors.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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