General Mills (NYSE:GIS) Issues Earnings Results

General Mills (NYSE:GIS - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.04, Zacks reports. The business had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 earnings per share.

General Mills Trading Up 0.8 %

GIS traded up $0.47 on Friday, reaching $58.78. 48,560,704 shares of the company traded hands, compared to its average volume of 4,110,811. General Mills has a one year low of $55.15 and a one year high of $75.90. The firm has a fifty day simple moving average of $60.00 and a two-hundred day simple moving average of $65.17. The company has a market cap of $32.40 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.08%. General Mills's payout ratio is 52.75%.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company's stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Citigroup dropped their target price on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Bank of America dropped their target price on shares of General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday. TD Cowen dropped their target price on shares of General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 target price on shares of General Mills in a research note on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $66.53.

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.