$0.71 EPS Expected for General Mills, Inc. (GIS) This Quarter
Brokerages forecast that General Mills, Inc. (NYSE:GIS) will announce earnings of $0.71 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for General Mills’ earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $0.75. General Mills reported earnings per share of $0.66 in the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, June 28th.
According to Zacks, analysts expect that General Mills will report full year earnings of $3.06 per share for the current financial year, with EPS estimates ranging from $3.01 to $3.10. For the next year, analysts forecast that the firm will post earnings of $3.23 per share, with EPS estimates ranging from $3.15 to $3.33. Zacks’ EPS averages are an average based on a survey of research analysts that cover General Mills.
Several equities analysts have recently weighed in on GIS shares. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target for the company in a report on Monday, May 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $55.00 price objective (down from $58.00) on shares of General Mills in a report on Sunday. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a report on Monday, March 20th. Royal Bank Of Canada reiterated a “hold” rating on shares of General Mills in a report on Sunday, March 12th. Finally, Stifel Nicolaus downgraded General Mills from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $67.00 to $60.00 in a report on Wednesday, March 22nd. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.44.
In related news, insider Jonathon Nudi acquired 1,800 shares of the stock in a transaction dated Wednesday, April 12th. The shares were purchased at an average cost of $57.45 per share, with a total value of $103,410.00. Following the transaction, the insider now directly owns 34,077 shares in the company, valued at $1,957,723.65. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CLS Investments LLC boosted its position in General Mills by 7.3% in the fourth quarter. CLS Investments LLC now owns 4,294 shares of the company’s stock worth $265,000 after buying an additional 291 shares in the last quarter. Cleararc Capital Inc. boosted its position in General Mills by 5.7% in the fourth quarter. Cleararc Capital Inc. now owns 33,022 shares of the company’s stock worth $2,040,000 after buying an additional 1,767 shares in the last quarter. State Street Corp boosted its position in General Mills by 0.8% in the fourth quarter. State Street Corp now owns 36,623,882 shares of the company’s stock worth $2,262,262,000 after buying an additional 307,392 shares in the last quarter. Horizon Investments LLC acquired a new position in General Mills during the fourth quarter worth approximately $574,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in General Mills by 2.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 335,195 shares of the company’s stock worth $20,706,000 after buying an additional 7,994 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.
General Mills (NYSE:GIS) opened at 55.94 on Monday. General Mills has a 12-month low of $55.57 and a 12-month high of $72.95. The firm’s 50-day moving average is $56.95 and its 200-day moving average is $59.75. The stock has a market capitalization of $32.23 billion, a P/E ratio of 20.73 and a beta of 0.60.
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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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