The company said in Wednesday’s earning report that it expects a decline in fourth-quarter net sales, profit and adjusted earnings due to the sale of the Green Giant brand, foreign-exchange headwinds and one less week during the quarter. RBC Capital Markets maintained GIS’s stock on a December 7.
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Montgomery Investment Management Inc holds 13.02% of its portfolio in General Mills, Inc. for 393,195 shares.
The valuation method to compare General Mills, Inc.’s current share price to its expected per-share earnings via Forward P/E ratio shows a value of 19.96, thus, allowing investors to take a quick look on the company’s finances irrespective of its complex details from an accounting report. The firm maintained its “market perform” rating on the stock. 4,916,979 shares of the company traded hands. Cereal sales slipped 2 percent during the quarter, but were flat for the year. Carroll Financial Associates now owns 4,616 shares of the company’s stock worth $266,000 after buying an additional 476 shares in the last quarter.
General Mills (GIS) was Reiterated by Stifel to “Buy” according to the research note released today. The analysts also projected the company’s long-term growth at 5.33 percent for the upcoming five years.
The stock price of General Mills Inc. gained 14.46% over the last 200 days, and is in strong up trend.
He added that the seven cereals relaunched in January with no artificial flavors, no colors from artificial sources, and no high fructose corn syrup – Trix, Reese’s Puffs, Cocoa Puffs, Golden Grahams, Chocolate Cheerios, Frosted Cheerios and Fruity Cheerios – had since posted 6% sales growth versus a 6% decline past year. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. In terms of future earnings, analysts are projecting that the firm will report earnings of $0.62 for the current quarter.
The stock is up 0.33% or $0.2 after the news, hitting $60.99 per share.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 2nd. The ex-dividend date is Thursday, April 7th.
Even if General Mills can make significant changes in its cereal business, there’s still yogurt, another struggling category for the company.
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The branded consumer foods manufacturer also announced that it anticipates a $35-million charge pertaining to its Venezuela divestiture. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.00%. The company operates in three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
