General Mills (NYSE:GIS) released its earnings results on Wednesday. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07, RTT News reports. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. General Mills updated its FY 2020 guidance to $3.32-3.38 EPS.
NYSE GIS opened at $52.22 on Friday. The business’s 50 day simple moving average is $52.08. General Mills has a 52-week low of $36.42 and a 52-week high of $54.39. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.58. The company has a market cap of $30.72 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.18 and a beta of 0.75.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.75%. General Mills’s payout ratio is 60.87%.
In related news, Director R Kerry Clark sold 14,836 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $51.57, for a total transaction of $765,092.52. Following the completion of the sale, the director now directly owns 62,211 shares of the company’s stock, valued at approximately $3,208,221.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John R. Church sold 4,719 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the sale, the insider now directly owns 34,112 shares of the company’s stock, valued at $1,732,207.36. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.
General Mills Company Profile
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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