$3.87 Billion in Sales Expected for General Mills, Inc. (GIS) This Quarter

Brokerages expect that General Mills, Inc. (NYSE:GIS) will post $3.87 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for General Mills’ earnings. The highest sales estimate is $3.90 billion and the lowest is $3.84 billion. General Mills posted sales of $3.79 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.1%. The company is expected to issue its next 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 year, analysts anticipate that the firm will report sales of $15.86 billion per share, with estimates ranging from $15.63 billion to $16.11 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover General Mills.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting analysts’ consensus estimates of $0.82. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share.

A number of research analysts recently issued reports on the stock. Piper Jaffray Companies upgraded shares of General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price objective for the company in a report on Wednesday, January 3rd. Edward Jones reiterated a “hold” rating on shares of General Mills in a report on Wednesday, December 20th. Susquehanna Bancshares set a $60.00 price objective on shares of General Mills and gave the company a “hold” rating in a report on Tuesday, December 19th. BMO Capital Markets reiterated a “neutral” rating on shares of General Mills in a report on Friday, December 22nd. Finally, Goldman Sachs Group reiterated a “sell” rating on shares of General Mills in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.28.

General Mills (GIS) opened at $59.11 on Monday. The company has a market cap of $33,640.00, a PE ratio of 21.65, a PEG ratio of 2.61 and a beta of 0.66. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79. General Mills has a fifty-two week low of $49.65 and a fifty-two week high of $63.73.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.96 annualized dividend and a yield of 3.32%. General Mills’s payout ratio is 71.79%.

In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in GIS. Cable Hill Partners LLC grew its position in General Mills by 274.5% in the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares during the period. Grove Bank & Trust grew its position in General Mills by 322.7% in the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after purchasing an additional 1,878 shares during the period. Spectrum Management Group Inc. purchased a new position in General Mills during the 3rd quarter worth $135,000. Tradewinds Capital Management LLC boosted its holdings in General Mills by 127.3% during the 3rd quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Americafirst Capital Management LLC purchased a new position in General Mills during the 2nd quarter worth $158,000. 72.58% of the stock is owned by institutional investors.

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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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