General Mills, Inc. (NYSE:GIS) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $3.07-3.12 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.06.
A number of research firms have issued reports on GIS. Sanford C. Bernstein cut shares of General Mills from a market perform rating to an underperform rating in a report on Tuesday. Zacks Investment Research raised shares of General Mills from a sell rating to a hold rating in a report on Monday. Royal Bank of Canada reaffirmed a hold rating on shares of General Mills in a report on Sunday, March 12th. Deutsche Bank AG began coverage on shares of General Mills in a report on Wednesday, February 15th. They issued a hold rating and a $61.00 price target for the company. Finally, Credit Suisse Group AG reaffirmed a neutral rating and issued a $65.00 price target on shares of General Mills in a report on Thursday, February 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $66.35.
Shares of General Mills, Inc. (NYSE:GIS) opened at 60.26 on Tuesday. The firm has a market cap of $34.95 billion, a price-to-earnings ratio of 22.50 and a beta of 0.56. General Mills, Inc. has a 52-week low of $58.70 and a 52-week high of $72.95. The company’s 50-day moving average is $61.33 and its 200 day moving average is $62.51.
General Mills (NYSE:GIS) last issued its earnings results on Tuesday, March 21st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. General Mills had a net margin of 10.23% and a return on equity of 35.10%. The business earned $3.79 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts expect that General Mills, Inc. will post $3.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, April 6th. General Mills’s payout ratio is 71.64%.
In other news, Director Robert L. Ryan sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $60.83, for a total value of $1,216,600.00. Following the completion of the transaction, the director now owns 54,676 shares in the company, valued at approximately $3,325,941.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.
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.