General Mills (NYSE:GIS) Announces Earnings Results

General Mills (NYSE:GIS) released its earnings results on Wednesday. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18, RTT News reports. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the firm posted $1.25 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. General Mills updated its FY 2025 guidance to 4.380-4.480 EPS.

General Mills Stock Performance

Shares of GIS opened at $64.01 on Friday. The company has a market capitalization of $35.54 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. General Mills has a one year low of $61.47 and a one year high of $75.90. The company’s fifty day moving average price is $66.62 and its 200 day moving average price is $68.14.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GIS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research report on Thursday. Stifel Nicolaus lowered their target price on General Mills from $82.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $80.00 in a research report on Friday, December 13th. Finally, Piper Sandler upped their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average price target of $71.94.

Insider Activity

In other news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,230 shares of company stock valued at $4,547,822. 0.26% of the stock is owned by insiders.

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.