General Mills (NYSE:GIS) Announces Earnings Results

General Mills (NYSE:GIS - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18, RTT News reports. The business had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.14 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. General Mills updated its FY 2025 guidance to 4.380-4.480 EPS.

General Mills Price Performance

NYSE:GIS traded down $2.02 during trading hours on Wednesday, reaching $63.91. The stock had a trading volume of 13,262,543 shares, compared to its average volume of 3,947,887. The stock has a market capitalization of $35.48 billion, a PE ratio of 15.22, a PEG ratio of 3.41 and a beta of 0.10. General Mills has a 52 week low of $61.47 and a 52 week high of $75.90. The company has a 50 day moving average price of $66.76 and a two-hundred day moving average price of $68.17. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, January 10th. General Mills's dividend payout ratio is presently 57.14%.

Insider Activity

In other news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,555 shares of company stock worth $4,721,336. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of analyst reports. Piper Sandler upped their price target on General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, September 19th. Wells Fargo & Company reduced their target price on shares of General Mills from $77.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $83.00 to $82.00 in a research note on Wednesday. Bank of America upgraded shares of General Mills from a "neutral" rating to a "buy" rating and upped their price target for the stock from $78.00 to $80.00 in a research report on Friday, December 13th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $73.56.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.