General Mills, Inc. (GIS) Forecasted to Post FY2021 Earnings of $3.65 Per Share

General Mills, Inc. (NYSE:GIS) – Stock analysts at Gabelli increased their FY2021 earnings per share (EPS) estimates for shares of General Mills in a research report issued on Thursday. Gabelli analyst S. Donnelly now expects that the company will earn $3.65 per share for the year, up from their prior forecast of $3.60.

Other research analysts have also issued research reports about the company. Bank of America cut their price objective on General Mills from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, September 21st. Citigroup reissued a “buy” rating and set a $67.00 price objective on shares of General Mills in a report on Thursday, September 21st. Royal Bank of Canada reissued a “hold” rating and set a $62.00 price objective on shares of General Mills in a report on Wednesday, September 6th. BMO Capital Markets reissued a “hold” rating and set a $60.00 price objective on shares of General Mills in a report on Wednesday, September 6th. Finally, Susquehanna Bancshares reissued a “hold” rating and set a $58.00 price objective on shares of General Mills in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $57.52.

General Mills (GIS) opened at $60.13 on Friday. General Mills has a twelve month low of $49.65 and a twelve month high of $63.73. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $34,520.00, a PE ratio of 22.03, a PEG ratio of 2.63 and a beta of 0.66.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. General Mills’s revenue was up 2.1% on a year-over-year basis.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Lenox Wealth Advisors Inc. raised its holdings in shares of General Mills by 0.8% during the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after acquiring an additional 15 shares in the last quarter. Cable Hill Partners LLC raised its holdings in shares of General Mills by 274.5% during the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after acquiring an additional 1,647 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of General Mills by 322.7% during the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after acquiring an additional 1,878 shares in the last quarter. Tradewinds Capital Management LLC raised its holdings in shares of General Mills by 127.3% during the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after acquiring an additional 1,459 shares in the last quarter. Finally, Spectrum Management Group Inc. bought a new position in shares of General Mills during the third quarter valued at approximately $135,000. 72.62% of the stock is owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, January 9th. General Mills’s dividend payout ratio is currently 71.79%.

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General Mills Company Profile

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.

Earnings History and Estimates for General Mills (NYSE:GIS)

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