Processed & Packaged Goods: General Mills, Inc. (NYSE:GIS) Position of the day
- Author: Wendy Palmer Mar 22, 2017,
Mar 22, 2017, 0:39
General Mills's revenue was down 5.2% compared to the same quarter previous year.
The company's total sales, including the convenience store and foodservice and global segment, fell 5 percent to $3.79 billion, less than the $3.82 billion analysts surveyed by Zacks expected. This figure, a 5% decline over revenue reported in the year-ago quarter, marks the company's seventh straight decline in quarterly sales.
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Analyst recommendation for this stock stands at 2.80. 5 researchers gave likely EPS and offered foretold growth rate at 7.9%.
For the past 5 years, The Dow Chemical Company's EPS growth has been almost 11.5%. The stock's market capitalization is 35.18B, it has a 52-week low of 58.70 and a 52-week high of 72.95. Credit Suisse Group AG reiterated a "neutral" rating and issued a $65.00 target price on shares of General Mills in a research note on Thursday, February 2nd.
Currently, GIS has a Zacks Rank #3 (Hold), but that could definitely change following General Mills' earnings report which was just released. Ltd. now owns 1,138,406 shares of the company's stock valued at $70,383,000 after buying an additional 1,031,541 shares during the period.
Sales in North America fell 7 percent to $2.5 billion, the convenience stores and foodservice segment saw a 1 percent drop to $448 million and sales in Europe and Australia fell 3 percent to $424 million.
Second, the 50-day moving average has been forcing a lot of pressure on GIS shares. Investors of record on Monday, April 10th will be paid a $0.48 dividend.
General Mills (NYSE:GIS) pays an annual dividend of $1.92 with a yield of 3.19% and an average dividend growth of 9.40% based on a 3 Year Average. Following the completion of the transaction, the director now owns 54,676 shares of the company's stock, valued at $3,325,941.08.
On 9/29/2015 General Mills announced a quarterly dividend of $0.44 3.14% with an ex dividend date of 10/7/2015 which will be payable on 11/2/2015. It takes the sum of all of the past closing prices over a specific time period and divides the result by the number of prices used in the calculation. At present, the Gross Margin for General Mills, Inc. Royal Bank of Canada reaffirmed a "hold" rating on shares of General Mills in a research report on Sunday, March 12th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock.
In related news, Director Robert L. Ryan sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, January 11th.
The Stock now has the market capitalization of $34.95 Billion, P/E (price to earnings ttm) of 22.43 and Weekly volatility of 1.04% and monthly volatility of 1.22% respectively. Post-earnings, General Mills, Inc. stock ranged between $60.67 and $61.89 after opening the day (03/24/2016) at $60.8.
On Tuesday, the maker of Cheerios cereal and Yoplait yogurt reported sales declines across all major segments in the key US market, led by the decline for yogurt though sales were also weaker for cereal, snacks, and meals & baking.