General Mills (NYSE:GIS) Releases FY 2022 Earnings Guidance

General Mills (NYSE:GIS) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.710-$3.790 for the period, compared to the Thomson Reuters consensus estimate of $3.700. The company issued revenue guidance of -.

Shares of GIS stock traded down $0.13 during trading hours on Thursday, hitting $58.86. 41,178 shares of the company’s stock were exchanged, compared to its average volume of 3,490,776. The stock has a market capitalization of $35.74 billion, a P/E ratio of 15.61, a PEG ratio of 2.13 and a beta of 0.58. General Mills has a 12-month low of $53.96 and a 12-month high of $66.14. The stock has a 50 day simple moving average of $61.41. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.00.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Tuesday, June 29th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. General Mills had a net margin of 12.91% and a return on equity of 25.61%. The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the firm posted $1.10 earnings per share. The business’s revenue was down 9.9% compared to the same quarter last year. On average, sell-side analysts anticipate that General Mills will post 3.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Friday, July 9th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Thursday, July 8th. General Mills’s payout ratio is 53.83%.

Several research analysts recently commented on GIS shares. Royal Bank of Canada reaffirmed a hold rating and issued a $65.00 target price on shares of General Mills in a research note on Monday, June 28th. Credit Suisse Group decreased their target price on shares of General Mills from $66.00 to $64.00 and set an outperform rating on the stock in a research note on Monday, March 29th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating on shares of General Mills in a research note on Wednesday, June 9th. Finally, Jefferies Financial Group initiated coverage on shares of General Mills in a research report on Wednesday, June 30th. They set a hold rating and a $63.00 price objective on the stock. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $64.00.

In other news, insider Sean N. Walker sold 26,337 shares of the business’s stock in a transaction on Wednesday, July 14th. The shares were sold at an average price of $58.78, for a total transaction of $1,548,088.86. Following the sale, the insider now owns 105,647 shares in the company, valued at approximately $6,209,930.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John R. Church sold 25,812 shares of the business’s stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $60.81, for a total transaction of $1,569,627.72. Following the sale, the insider now owns 75,728 shares in the company, valued at approximately $4,605,019.68. The disclosure for this sale can be found here. Insiders own 0.51% 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, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, 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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