Brokerages expect General Mills, Inc. (NYSE:GIS) to report $4.35 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for General Mills’ earnings. The highest sales estimate is $4.45 billion and the lowest is $4.25 billion. General Mills posted sales of $4.36 billion in the same quarter last year, which would indicate a negative year over year growth rate of 0.2%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, September 22nd.
According to Zacks, analysts expect that General Mills will report full-year sales of $17.94 billion for the current year, with estimates ranging from $17.73 billion to $18.31 billion. For the next fiscal year, analysts anticipate that the company will report sales of $18.03 billion, with estimates ranging from $17.77 billion to $18.88 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow General Mills.
General Mills (NYSE:GIS) last released its quarterly earnings data on Tuesday, June 29th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. General Mills had a net margin of 12.91% and a return on equity of 25.61%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. General Mills’s revenue for the quarter was down 9.9% on a year-over-year basis.
In related news, insider Sean N. Walker sold 26,337 shares of the stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $58.78, for a total transaction of $1,548,088.86. Following the completion of the transaction, the insider now directly owns 105,647 shares of the company’s stock, valued at $6,209,930.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sage Financial Management Group Inc. purchased a new position in General Mills in the first quarter valued at about $25,000. TD Capital Management LLC increased its holdings in General Mills by 77.1% in the first quarter. TD Capital Management LLC now owns 425 shares of the company’s stock valued at $26,000 after buying an additional 185 shares in the last quarter. Disciplined Investments LLC purchased a new position in General Mills in the first quarter valued at about $26,000. Meridian Wealth Partners LLC purchased a new position in General Mills in the first quarter valued at about $27,000. Finally, Cowa LLC increased its holdings in General Mills by 57.1% in the first quarter. Cowa LLC now owns 550 shares of the company’s stock valued at $33,000 after buying an additional 200 shares in the last quarter. 75.07% of the stock is owned by hedge funds and other institutional investors.
NYSE GIS traded up $0.18 during trading hours on Friday, hitting $58.95. The company had a trading volume of 42,866 shares, compared to its average volume of 4,127,696. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.48 and a current ratio of 0.70. General Mills has a 1-year low of $53.96 and a 1-year high of $64.65. The company has a market cap of $35.74 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. The business has a 50 day moving average of $58.92 and a 200-day moving average of $60.28.
The company also recently declared a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 9th were issued a dividend of $0.51 per share. The ex-dividend date was Thursday, July 8th. This represents a $2.04 annualized dividend and a yield of 3.46%. General Mills’s dividend payout ratio is currently 53.83%.
General Mills Company Profile
General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.
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