$0.87 EPS Expected for General Mills, Inc. (NYSE:GIS) This Quarter

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Wall Street brokerages expect that General Mills, Inc. (NYSE:GIS) will post earnings per share (EPS) of $0.87 for the current quarter, according to Zacks. Five analysts have provided estimates for General Mills’ earnings. The lowest EPS estimate is $0.84 and the highest is $0.95. General Mills posted earnings of $0.79 per share in the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, September 23rd.

On average, analysts expect that General Mills will report full-year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.43 to $3.58. For the next year, analysts expect that the company will report earnings of $3.63 per share, with EPS estimates ranging from $3.54 to $3.68. Zacks’ earnings per share averages are an average based on a survey of research firms that follow General Mills.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, July 1st. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.04. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.98 billion. General Mills had a return on equity of 27.66% and a net margin of 12.37%. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS.

Several analysts recently issued reports on the company. Piper Sandler reissued a “buy” rating and set a $71.00 target price on shares of General Mills in a research note on Tuesday, June 30th. ValuEngine downgraded General Mills from a “hold” rating to a “sell” rating in a research note on Monday, June 8th. Stifel Nicolaus reduced their price objective on General Mills from $62.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, July 2nd. BMO Capital Markets lifted their price objective on General Mills from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Thursday, July 2nd. Finally, Guggenheim lifted their price objective on General Mills from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $62.61.

GIS traded down $0.27 on Wednesday, hitting $58.75. 2,409,617 shares of the company’s stock traded hands, compared to its average volume of 4,259,232. The company’s 50 day simple moving average is $63.00 and its 200-day simple moving average is $59.97. The firm has a market cap of $35.89 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 2.21 and a beta of 0.59. General Mills has a one year low of $46.59 and a one year high of $66.14. The company has a current ratio of 0.68, a quick ratio of 0.49 and a debt-to-equity ratio of 1.31.

In other General Mills news, General Counsel Richard C. Allendorf sold 13,897 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $64.72, for a total value of $899,413.84. Following the transaction, the general counsel now directly owns 98,562 shares of the company’s stock, valued at $6,378,932.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn P. Ogrady sold 44,147 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $64.50, for a total value of $2,847,481.50. Following the completion of the transaction, the insider now directly owns 185,213 shares in the company, valued at $11,946,238.50. The disclosure for this sale can be found here. Insiders sold a total of 60,711 shares of company stock valued at $3,920,384 over the last ninety days. 0.51% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado grew its stake in shares of General Mills by 5.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 113,789 shares of the company’s stock valued at $6,005,000 after purchasing an additional 6,312 shares during the last quarter. Strategic Wealth Advisors Group LLC boosted its holdings in General Mills by 6.4% in the 1st quarter. Strategic Wealth Advisors Group LLC now owns 33,719 shares of the company’s stock valued at $1,791,000 after purchasing an additional 2,036 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in General Mills by 1.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 143,821 shares of the company’s stock valued at $7,589,000 after purchasing an additional 1,991 shares during the period. Pearl River Capital LLC acquired a new position in shares of General Mills in the 1st quarter valued at approximately $497,000. Finally, Focused Wealth Management Inc acquired a new position in General Mills during the 1st quarter worth approximately $148,000. 72.40% of the stock is owned by hedge funds and other institutional investors.

About General Mills

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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