General Mills Inc. (GIS) Scheduled to Post Quarterly Earnings on Wednesday
General Mills Inc. (NYSE:GIS) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, September 21st. Analysts expect the company to announce earnings of $0.75 per share for the quarter.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The business earned $3.93 billion during the quarter, compared to analysts’ expectations of $3.86 billion. General Mills had a net margin of 10.25% and a return on equity of 33.96%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. On average, analysts expect General Mills to post $3.10 EPS for the current fiscal year and $3.43 EPS for the next fiscal year.
Shares of General Mills Inc. (NYSE:GIS) opened at 65.19 on Monday. General Mills Inc. has a 12-month low of $53.53 and a 12-month high of $72.95. The company’s 50 day moving average is $70.32 and its 200 day moving average is $65.86. The firm has a market capitalization of $38.92 billion, a PE ratio of 23.53 and a beta of 0.38.
In related news, COO Jeffrey L. Harmening sold 33,150 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $71.05, for a total value of $2,355,307.50. Following the completion of the transaction, the chief operating officer now directly owns 133,106 shares in the company, valued at approximately $9,457,181.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dorothy A. Terrell sold 13,556 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $71.70, for a total value of $971,965.20. Following the completion of the transaction, the director now owns 72,542 shares of the company’s stock, valued at $5,201,261.40. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV increased its position in General Mills by 4.2% in the second quarter. Nations Financial Group Inc. IA ADV now owns 3,768 shares of the company’s stock worth $269,000 after buying an additional 152 shares during the period. Stonebridge Capital Advisors LLC increased its position in General Mills by 1.3% in the second quarter. Stonebridge Capital Advisors LLC now owns 13,050 shares of the company’s stock worth $931,000 after buying an additional 170 shares during the period. SOUTH STATE Corp increased its position in General Mills by 0.5% in the second quarter. SOUTH STATE Corp now owns 33,236 shares of the company’s stock worth $2,370,000 after buying an additional 180 shares during the period. Advisor Partners LLC increased its position in General Mills by 2.6% in the second quarter. Advisor Partners LLC now owns 8,464 shares of the company’s stock worth $604,000 after buying an additional 215 shares during the period. Finally, Azimuth Capital Management LLC increased its position in General Mills by 2.7% in the second quarter. Azimuth Capital Management LLC now owns 9,465 shares of the company’s stock worth $675,000 after buying an additional 248 shares during the period. 69.14% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on GIS shares. Citigroup Inc. reaffirmed a “buy” rating on shares of General Mills in a report on Sunday, May 22nd. Zacks Investment Research raised General Mills from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, June 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $63.00 price target on shares of General Mills in a report on Thursday, June 30th. Susquehanna reaffirmed a “hold” rating and issued a $59.00 price target on shares of General Mills in a report on Tuesday, June 28th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of General Mills in a report on Thursday, June 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $67.40.
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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