General Mills (NYSE:GIS) Announces Earnings Results, Hits Expectations

General Mills (NYSE:GIS) released its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82, Bloomberg Earnings reports. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS.

General Mills (NYSE GIS) opened at $58.09 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. The firm has a market cap of $33,060.00, a P/E ratio of 21.28, a PEG ratio of 2.64 and a beta of 0.66. General Mills has a twelve month low of $49.65 and a twelve month high of $63.73.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders 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 annualized dividend and a dividend yield of 3.37%. General Mills’s payout ratio is 71.79%.

GIS has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Friday, September 15th. Citigroup reaffirmed a “buy” rating and set a $67.00 target price on shares of General Mills in a research note on Thursday, September 21st. Wells Fargo & Co set a $65.00 target price on shares of General Mills and gave the company a “buy” rating in a research note on Thursday, December 21st. Morgan Stanley reissued an “equal weight” rating and set a $52.00 price target (down from $55.00) on shares of General Mills in a research report on Thursday, September 21st. Finally, Susquehanna Bancshares reissued a “hold” rating and set a $58.00 price target on shares of General Mills in a research report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $58.17.

In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the transaction, the insider now directly owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

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About General Mills

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.

Earnings History for General Mills (NYSE:GIS)

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