General Mills (NYSE:GIS) Announces Earnings Results, Beats Expectations By $0.02 EPS

General Mills (NYSE:GIS - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.02, RTT News reports. The firm had revenue of $4.71 billion during the quarter, compared to analysts' expectations of $4.85 billion. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 earnings per share. General Mills updated its FY 2025 guidance to 4.480-4.570 EPS.

General Mills Price Performance

NYSE GIS traded down $3.09 on Wednesday, hitting $64.17. 9,907,510 shares of the company's stock were exchanged, compared to its average volume of 4,134,302. General Mills has a 52 week low of $60.33 and a 52 week high of $82.59. The stock has a 50-day moving average of $68.85 and a 200-day moving average of $66.80. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The stock has a market cap of $36.44 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 3.13 and a beta of 0.12.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.74%. This is a boost from General Mills's previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, July 10th. General Mills's dividend payout ratio (DPR) is 54.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Mizuho boosted their price target on General Mills from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, March 21st. Barclays increased their price target on General Mills from $70.00 to $72.00 and gave the company an "equal weight" rating in a research note on Friday, March 22nd. HSBC lifted their price objective on shares of General Mills from $74.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. cut their target price on shares of General Mills from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, May 28th. Finally, Bank of America upped their price target on shares of General Mills from $68.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $71.94.

Insider Transactions at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of the firm's stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the sale, the insider now directly owns 17,397 shares of the company's stock, valued at $1,227,706.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by insiders.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.