Analysts Expect General Mills, Inc. (NYSE:GIS) Will Announce Quarterly Sales of $4.10 Billion

Equities research analysts expect that General Mills, Inc. (NYSE:GIS) will post sales of $4.10 billion for the current quarter, Zacks reports. Five analysts have issued estimates for General Mills’ earnings. The lowest sales estimate is $4.07 billion and the highest is $4.13 billion. General Mills posted sales of $4.09 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.2%. The business is expected to announce its next earnings report on Tuesday, September 17th.

According to Zacks, analysts expect that General Mills will report full year sales of $17.44 billion for the current financial year, with estimates ranging from $17.36 billion to $17.54 billion. For the next financial year, analysts forecast that the company will post sales of $17.35 billion, with estimates ranging from $17.18 billion to $17.61 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow General Mills.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year.

GIS has been the topic of several research analyst reports. Edward Jones raised shares of General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Piper Jaffray Companies boosted their price target on shares of General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. UBS Group boosted their price target on shares of General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. Evercore ISI began coverage on shares of General Mills in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $56.00 price target on the stock. Finally, Guggenheim boosted their price target on shares of General Mills from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $52.66.

Shares of GIS stock traded down $0.31 during mid-day trading on Friday, hitting $53.70. The company had a trading volume of 3,521,518 shares, compared to its average volume of 3,639,232. General Mills has a 52-week low of $36.42 and a 52-week high of $54.74. The company has a 50 day simple moving average of $53.36. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.37. The stock has a market capitalization of $32.51 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.29 and a beta of 0.77.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Tuesday, July 9th. General Mills’s dividend payout ratio is presently 60.87%.

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of General Mills by 21.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,471,138 shares of the company’s stock valued at $96,224,000 after buying an additional 433,796 shares in the last quarter. Geode Capital Management LLC increased its position in shares of General Mills by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock valued at $281,036,000 after buying an additional 473,831 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of General Mills by 1.8% in the 4th quarter. Nuveen Asset Management LLC now owns 14,470 shares of the company’s stock valued at $563,000 after buying an additional 261 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of General Mills in the 4th quarter valued at $623,000. Finally, Thrivent Financial for Lutherans increased its holdings in General Mills by 30.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 33,094 shares of the company’s stock worth $1,289,000 after purchasing an additional 7,637 shares in the last quarter. Institutional investors and hedge funds own 69.41% of the company’s stock.

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

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