$4.09 Billion in Sales Expected for General Mills, Inc. (NYSE:GIS) This Quarter

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Brokerages predict that General Mills, Inc. (NYSE:GIS) will report $4.09 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for General Mills’ earnings, with estimates ranging from $4.04 billion to $4.13 billion. General Mills also posted sales of $4.09 billion during the same quarter last year. The business is expected to announce its next earnings results before the market opens on Wednesday, September 18th.

On average, analysts expect that General Mills will report full year sales of $17.42 billion for the current year, with estimates ranging from $17.27 billion to $17.54 billion. For the next fiscal year, analysts anticipate that the business will report sales of $17.34 billion, with estimates ranging from $17.14 billion to $17.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow General Mills.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year.

A number of research firms recently issued reports on GIS. Bank of America reiterated a “neutral” rating and set a $49.00 price objective on shares of General Mills in a research note on Friday, May 17th. Piper Jaffray Companies boosted their price objective on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Goldman Sachs Group lowered General Mills from a “neutral” rating to a “sell” rating and set a $41.00 price objective on the stock. in a research note on Tuesday, May 28th. Edward Jones upgraded General Mills from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Finally, Morgan Stanley boosted their price objective on General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and a consensus target price of $52.98.

NYSE:GIS opened at $53.63 on Tuesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.37 and a current ratio of 0.59. General Mills has a 52-week low of $36.42 and a 52-week high of $55.43. The firm has a market cap of $33.00 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.32 and a beta of 0.77. The business’s fifty day moving average is $53.70 and its 200 day moving average is $50.97.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.49 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.65%. General Mills’s dividend payout ratio is currently 60.87%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Krane Funds Advisors LLC bought a new position in General Mills in the 2nd quarter worth about $25,000. Ellevest Inc. bought a new position in shares of General Mills during the 2nd quarter valued at about $28,000. Capital International Ltd. CA bought a new position in shares of General Mills during the 2nd quarter valued at about $30,000. Employers Holdings Inc. bought a new position in shares of General Mills during the 2nd quarter valued at about $32,000. Finally, Certified Advisory Corp increased its position in shares of General Mills by 100.9% during the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after purchasing an additional 323 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

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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