$3.79 Billion in Sales Expected for General Mills, Inc. (NYSE:GIS) This Quarter
Equities analysts expect General Mills, Inc. (NYSE:GIS) to announce sales of $3.79 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for General Mills’ earnings. The highest sales estimate is $3.84 billion and the lowest is $3.72 billion. General Mills reported sales of $3.91 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.1%. The company is scheduled to issue its next earnings results on Wednesday, September 20th.
According to Zacks, analysts expect that General Mills will report full year sales of $3.79 billion for the current fiscal year, with estimates ranging from $15.24 billion to $15.54 billion. For the next fiscal year, analysts anticipate that the company will report sales of $15.61 billion per share, with estimates ranging from $15.29 billion to $15.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow General Mills.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.66 EPS.
GIS has been the subject of several research analyst reports. Vetr upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price for the company in a research note on Monday, May 1st. Morgan Stanley reiterated an “equal weight” rating and set a $55.00 target price (down from $58.00) on shares of General Mills in a research note on Sunday, June 25th. BidaskClub upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. BMO Capital Markets reiterated a “hold” rating and set a $67.00 target price on shares of General Mills in a research note on Thursday, June 15th. Finally, Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $59.93.
Several large investors have recently bought and sold shares of GIS. Lenox Wealth Advisors Inc. raised its stake in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after buying an additional 15 shares during the last quarter. Cribstone Capital Management LLC raised its stake in General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares during the last quarter. Commonwealth Financial Services LLC raised its stake in General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock valued at $130,000 after buying an additional 2,058 shares during the last quarter. Hanson McClain Inc. raised its stake in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after buying an additional 35 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. raised its stake in General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after buying an additional 69 shares during the last quarter. 70.97% of the stock is currently owned by institutional investors and hedge funds.
General Mills (NYSE GIS) opened at 56.29 on Friday. The firm’s 50-day moving average is $54.99 and its 200 day moving average is $57.99. General Mills has a one year low of $53.24 and a one year high of $71.96. The firm has a market capitalization of $32.48 billion, a price-to-earnings ratio of 20.32 and a beta of 0.61.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.49 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.48%. General Mills’s dividend payout ratio is presently 70.76%.
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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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