General Mills (GIS) to Release Quarterly Earnings on Thursday

General Mills (NYSE:GISGet Rating) will be issuing its quarterly earnings data before the market opens on Thursday, March 23rd. Analysts expect the company to announce earnings of $0.90 per share for the quarter. General Mills has set its FY 2023 guidance at $4.10-$4.18 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

General Mills (NYSE:GISGet Rating) last posted its quarterly earnings data on Tuesday, December 20th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.04. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. General Mills had a net margin of 15.02% and a return on equity of 24.09%. On average, analysts expect General Mills to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

General Mills Stock Performance

NYSE:GIS opened at $80.95 on Thursday. The firm has a 50 day simple moving average of $78.99 and a 200-day simple moving average of $79.86. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.58 and a quick ratio of 0.35. The firm has a market cap of $47.73 billion, a PE ratio of 16.90, a P/E/G ratio of 2.51 and a beta of 0.28. General Mills has a 1-year low of $61.67 and a 1-year high of $88.34.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Thursday, April 6th. General Mills’s dividend payout ratio is presently 45.09%.

Insider Activity

In other news, insider Jonathon Nudi sold 10,894 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $84.49, for a total value of $920,434.06. Following the completion of the transaction, the insider now directly owns 82,784 shares in the company, valued at $6,994,420.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Mills news, CAO Mark A. Pallot sold 1,955 shares of the stock in a transaction on Friday, January 6th. The shares were sold at an average price of $85.99, for a total transaction of $168,110.45. Following the transaction, the chief accounting officer now directly owns 17,146 shares in the company, valued at approximately $1,474,384.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathon Nudi sold 10,894 shares of the stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $84.49, for a total transaction of $920,434.06. Following the transaction, the insider now owns 82,784 shares in the company, valued at $6,994,420.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,006 shares of company stock worth $3,393,359. 0.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GIS. FWL Investment Management LLC bought a new position in shares of General Mills in the 4th quarter worth about $25,000. Almanack Investment Partners LLC. bought a new position in shares of General Mills in the 3rd quarter worth about $28,000. Coppell Advisory Solutions Corp. bought a new position in shares of General Mills in the 4th quarter worth about $51,000. Compass Wealth Management LLC bought a new position in shares of General Mills in the 4th quarter worth about $84,000. Finally, 1832 Asset Management L.P. bought a new position in shares of General Mills in the 1st quarter worth about $85,000. 74.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GIS has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of General Mills from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, December 15th. Royal Bank of Canada upped their price target on shares of General Mills from $72.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 21st. Stifel Nicolaus upped their price target on shares of General Mills from $82.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, February 22nd. Morgan Stanley dropped their price target on shares of General Mills from $73.00 to $69.00 and set an “underweight” rating for the company in a research report on Thursday, February 16th. Finally, StockNews.com lowered shares of General Mills from a “buy” rating to a “hold” rating in a research report on Thursday, December 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and a consensus price target of $82.13.

General Mills Company Profile

(Get Rating)

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm 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.

See Also

Earnings History for General Mills (NYSE:GIS)

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