General Mills (NYSE:GIS) Announces Quarterly Earnings Results

General Mills (NYSE:GIS) released its quarterly earnings data on Wednesday. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01, Briefing.com reports. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS.

General Mills Trading Down 0.1 %

Shares of NYSE GIS opened at $74.90 on Friday. General Mills has a fifty-two week low of $60.33 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The company has a market cap of $41.81 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 3.86 and a beta of 0.10. The business’s 50 day moving average price is $69.69 and its 200-day moving average price is $68.44.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Wednesday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is 55.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GIS shares. The Goldman Sachs Group started coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Citigroup increased their target price on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday. Piper Sandler boosted their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus upped their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Bank of America lifted their price objective on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus price target of $71.93.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.