General Mills, Inc. (NYSE:GIS) Expected to Announce Quarterly Sales of $4.44 Billion

Equities analysts expect General Mills, Inc. (NYSE:GIS) to announce sales of $4.44 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for General Mills’ earnings. The highest sales estimate is $4.50 billion and the lowest is $4.37 billion. General Mills reported sales of $4.41 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.7%. The company is scheduled to issue its next earnings results on Wednesday, December 18th.

According to Zacks, analysts expect that General Mills will report full year sales of $17.32 billion for the current fiscal year, with estimates ranging from $17.16 billion to $17.54 billion. For the next fiscal year, analysts anticipate that the company will report sales of $17.21 billion, with estimates ranging from $16.96 billion to $17.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow General Mills.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. General Mills’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS.

A number of analysts have weighed in on GIS shares. Guggenheim increased their price target on shares of General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley increased their price target on shares of General Mills from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 22nd. Edward Jones raised shares of General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Finally, Stifel Nicolaus increased their price target on shares of General Mills from $52.00 to $54.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $53.64.

General Mills stock traded down $0.26 during mid-day trading on Friday, reaching $54.35. The company had a trading volume of 2,991,915 shares, compared to its average volume of 3,539,308. The company has a quick ratio of 0.37, a current ratio of 0.62 and a debt-to-equity ratio of 1.51. General Mills has a 52 week low of $36.42 and a 52 week high of $56.40. The company has a 50 day moving average of $54.22 and a 200-day moving average of $52.86. The firm has a market cap of $32.85 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.30 and a beta of 0.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, October 9th. General Mills’s dividend payout ratio is 60.87%.

In other news, insider Kofi A. Bruce sold 15,582 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $54.33, for a total value of $846,570.06. Following the completion of the transaction, the insider now owns 35,487 shares in the company, valued at approximately $1,928,008.71. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Several institutional investors have recently made changes to their positions in GIS. BlackRock Inc. increased its position in shares of General Mills by 15.8% during the 2nd quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock worth $2,515,202,000 after purchasing an additional 6,544,997 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of General Mills by 24,698.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,637,916 shares of the company’s stock worth $191,063,000 after purchasing an additional 3,623,246 shares in the last quarter. Iridian Asset Management LLC CT acquired a new stake in shares of General Mills during the 2nd quarter worth about $106,946,000. FMR LLC increased its position in shares of General Mills by 92.9% during the 1st quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after purchasing an additional 1,652,275 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of General Mills by 44.6% during the 2nd quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock worth $279,085,000 after purchasing an additional 1,639,900 shares in the last quarter. Institutional investors and hedge funds own 68.66% of the company’s stock.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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