General Mills (NYSE:GIS) Issues Earnings Results

General Mills (NYSE:GIS) released its quarterly earnings results on Wednesday. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01, Briefing.com reports. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business earned $1.09 EPS. The company’s revenue was down 1.2% compared to the same quarter last year.

General Mills Stock Down 0.5 %

Shares of NYSE GIS traded down $0.39 during trading on Friday, hitting $74.51. The stock had a trading volume of 9,105,188 shares, compared to its average volume of 3,993,857. The firm has a fifty day moving average of $69.69 and a two-hundred day moving average of $68.44. The company has a market capitalization of $41.59 billion, a PE ratio of 17.33, a PEG ratio of 3.86 and a beta of 0.10. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. General Mills has a 12 month low of $60.33 and a 12 month high of $75.90.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.22%. General Mills’s dividend payout ratio (DPR) is 55.68%.

Analysts Set New Price Targets

A number of brokerages have commented on GIS. Citigroup upped their price target on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday. Piper Sandler raised their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group assumed coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus price target of $72.73.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.