General Mills, Inc. (GIS) Expected to Post Quarterly Sales of $3.87 Billion

Wall Street analysts expect that General Mills, Inc. (NYSE:GIS) will report sales of $3.87 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for General Mills’ earnings, with estimates ranging from $3.84 billion to $3.90 billion. General Mills posted sales of $3.79 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The business is scheduled to announce its next quarterly earnings results on Tuesday, March 20th.

According to Zacks, analysts expect that General Mills will report full-year sales of $3.87 billion for the current fiscal year, with estimates ranging from $15.63 billion to $15.76 billion. For the next fiscal year, analysts expect that the company will report sales of $15.86 billion per share, with estimates ranging from $15.63 billion to $16.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for General Mills.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.82. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share.

A number of brokerages have issued reports on GIS. Argus reiterated a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. BMO Capital Markets reissued a “neutral” rating on shares of General Mills in a report on Friday, December 22nd. Susquehanna Bancshares set a $61.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Friday. Piper Jaffray Companies raised shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price for the company in a report on Wednesday. Finally, Credit Suisse Group set a $60.00 target price on shares of General Mills and gave the stock a “hold” rating in a report on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company. General Mills presently has a consensus rating of “Hold” and an average price target of $58.17.

Shares of General Mills (GIS) opened at $59.92 on Friday. The stock has a market cap of $33,806.89, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81. General Mills has a one year low of $49.65 and a one year high of $63.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.49 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.27%. General Mills’s dividend payout ratio (DPR) is presently 71.79%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in General Mills by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock valued at $2,214,240,000 after buying an additional 533,919 shares during the last quarter. American Century Companies Inc. raised its holdings in General Mills by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after buying an additional 1,550,074 shares during the last quarter. American International Group Inc. raised its holdings in General Mills by 1,708.4% in the 3rd quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock valued at $467,276,000 after buying an additional 8,528,534 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in General Mills by 13.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,490,175 shares of the company’s stock valued at $387,691,000 after buying an additional 890,262 shares during the last quarter. Finally, Federated Investors Inc. PA raised its holdings in General Mills by 94.6% in the 2nd quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock valued at $250,196,000 after buying an additional 2,195,397 shares during the last quarter. Institutional investors and hedge funds own 72.70% of the company’s stock.

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About General Mills

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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Earnings History and Estimates for General Mills (NYSE:GIS)

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