Wall Street analysts predict that General Mills, Inc. (NYSE:GIS) will report $3.88 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for General Mills’ earnings, with the highest sales estimate coming in at $3.93 billion and the lowest estimate coming in at $3.84 billion. General Mills reported sales of $3.79 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.4%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, March 21st.
According to Zacks, analysts expect that General Mills will report full-year sales of $3.88 billion for the current fiscal year, with estimates ranging from $15.65 billion to $15.80 billion. For the next year, analysts forecast that the company will report sales of $15.87 billion per share, with estimates ranging from $15.63 billion to $16.11 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for General Mills.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis.
In related news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the transaction, the insider now directly owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Avestar Capital LLC purchased a new position in General Mills during the 4th quarter worth approximately $100,000. Cable Hill Partners LLC raised its position in General Mills by 274.5% during the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock worth $116,000 after buying an additional 1,647 shares during the last quarter. Truewealth LLC purchased a new position in General Mills during the 4th quarter worth approximately $119,000. Grove Bank & Trust raised its position in General Mills by 322.7% during the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after buying an additional 1,878 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in General Mills during the 4th quarter worth approximately $131,000. 74.34% of the stock is owned by hedge funds and other institutional investors.
General Mills (NYSE GIS) opened at $51.99 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. General Mills has a 1-year low of $49.65 and a 1-year high of $61.34. The stock has a market cap of $29,580.00, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.13 and a beta of 0.72.
General Mills declared that its Board of Directors has approved a stock buyback plan on Friday, February 23rd that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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.
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