General Mills Inc $ 55.97 0.68 (1.23%)
General Mills Inc News and Headlines -
Shares of General Mills Inc. (GIS) saw a small price jump on Thursday alongside the most recent quarterly earnings report.
The global leader in packaged foods reported revenue of $4.71 billion, a 7% increase from the previous year at $4.42 billion. Earnings per share totaled $1.11, beating the previous year by 17%. Adjusted earnings per year settled at $1.06, which beat FactSet analyst estimations of 97 cents.
"We executed very well again in the second quarter, driving strong performance on the top and bottom lines," General Mills Chairman and CEO Jeff Harmening
General Mills (GIS) released its fiscal second-quarter 2021 results before the market opened on Dec. 17. The maker of Cheerios and other cereal and shelf-stable products posted strong results, with earnings and revenue surpassing analysts' projections.
Performance at a glance
The Minneapolis-based company posted second quarter adjusted earnings per share of $1.06, which increased 11.6% as compared to the same quarter last year. Revenue of $4.72 billion was up 6.74% on a year-over-year basis. Analysts had predicted EPS of $0.97 on $4.67 billion in revenue.
Organic sales rose 7% in the reported quarter. Weakness in the Convenience Stores and
Shares of packaged foods company Lamb Weston Holdings Inc. (LW) are up 5% since reporting earnings last week. The company reported its second quarater results for fiscal 2021 results on Wednesday before markets opened, which beat expectations on revenue and earnings.
Despite the post-earnings rally, the company still remains 13% down this year and 23% off this year's high. This implies that there could be some room to run as we enter into the final quarter of the calendar year. However, as shown by the Peter Lynch earnings line above, shares of
General Mills Inc. (GIS) CEO Jeff Harmening appeared on CNBC last week to discuss the company's quarterly results and the effects of Covid-19 on its business.
During the interview, Harmening said the company has been gaining market share and seeing growth from consumers as people are staying home. He does not believe this trend will change anytime soon.
He also talked about how all of the company's plants are opening up. Harmening anticipates that General Mills will see high single-digit sales growth over the next few quarters and will see repeat consumer purchases among its top 10 brands.
Several consumer staple companies have reported quarterly results recently, and many of them beat expectations for both revenue and earnings. These companies include General Mills Inc. (GIS), McCormick & Co. (MKC) and Conagra Brands Inc. (CAG).
It is PepsiCo Inc. (PEP), however, that appears to have had the best quarter thus far among consumer staple stocks that have already reported results this earnings season.
PepsiCo reported earnings results for the third quarter on Oct. 1. Following a decline in the previous quarter due to the Covid-19 pandemic, the company saw a return to growth this time around.
The share price of McCormick & Co. Inc. (MKC) edged 2.7% lower on Tuesday following the announcement of its third-quarter results. The decline added to the current bearish movement that dates back to the start of the month.
Shares of the company are now down nearly 10% this month. This trend appears set to continue given its current price level in comparison to the Peter Lynch earnings line.
Despite this month's pullback, McCormick is still up nearly 67% since bottoming on March 23. Its 16.5% gain this year also means that
Shares of General Mills Inc. (GIS) have decreased slightly following my look at the company after excellent fourth-quarter earnings results. The company delivered one of its largest year-over-year increases ever and managed to top analysts' elevated estimates for both revenue and profits.
General Mills followed that up with another top and bottom line beat for the first quarter of the current fiscal year. In addition, the company announced its first dividend increase in several years.
Let's look at why the most recent quarter, dividend announcement and low valuation are all signs that investors should be buying General Mills.
U.S. stocks were in the green on Thursday morning after market labor data which showed that 870,000 workers filed new unemployment claims, according to the U.S. Department of Labor. The Dow advanced 0.13% to 26,805, the S&P 500 index gained 0.26% to 3,245 and the Nasdaq Composite Index was up 0.52% to 10,686.
• General Mills (GIS) +2.1%
• Albemarle Corporation (ALB) +1.1%
• The Procter & Gamble Company (PG) +0.4%
• Walmart (WMT) +0.6%
• Under Armour, Inc. (UA) -5.5%
• Norwegian Cruise Line Holdings Ltd. (NCLH) +4.9%
• Twitter (TWTR) -3.2%
General Mills (GIS) released its fiscal first-quarter 2021 results before the market opened on Sept. 23. The maker of Cheerios and other cereal products posted strong results, with earnings and revenue surpassing analysts' projections thanks to strong demand for at-home foods.
Performance at a glance
The Minneapolis-based company posted first quarter adjusted earnings per share of $1, which was more than the $0.79 reported in the prior-year quarter. Revenue of $4.36 billion was up 9% on a year-over-year basis. Analysts had predicted EPS of $0.87 on $4.18 billion in revenue.
Organic sales rose 10% in the reported quarter as
U.S. stocks were in the green on Wednesday morning after the S&P 500 rose yesterday for the first time in five sessions. Today, Nike (NKE) is pushing the Dow higher after beating Wall Street in earnings and revenue. The Dow advanced 0.55% to 27,437, the S&P 500 index advanced 0.14% to 3,318 and the Nasdaq Composite Index was down 0.22% to 10,939.
• Twitter, Inc. (TWTR) +4.5%
• CarMax Inc (KMX) +2.4%
• Twitter, Inc. (TWTR) +2.6%
• Norwegian Cruise Line Holdings Ltd. (NCLH) +1.4%
• Albemarle Corporation (ALB) -8.1%
• Tesla, Inc. (TSLA) -4.3%
Packaged food companies, particularly those providing stay-at-home meal preparations, have had a wonderful quarter as a result of the lockdown situation caused by the Covid-19 pandemic.
General Mills, Inc. (GIS) is one of the big names in this category to have benefitted from the situation. The company continues to have a strong upside with an expected surge across segments resulting from the work-from-home environment. General Mills also holds a trump card in the form of its pet food segment, which continues to grab a larger slice of the premium pet food market. As of today, the stock looks poised for
General Mills (GIS) released its fiscal fourth-quarter 2020 results before the market opened on July 1. The maker of Cheerios and other cereal products posted strong results, with earnings and revenue surpassing analysts’ projections.
Performance at a glance
The Minneapolis-based company posted fourth quarter adjusted earnings per share of $1.10, which was more than the $0.94 reported in the prior-year quarter. Revenue of $5.02 billion was up 21% on a year-over-year basis. Analysts had predicted EPS of $1.06 on $4.98 billion in revenue.
Shelf-stable, prepare-at-home food accelerated the company’s sales during the quarter, making up roughly 85% of its
General Mills Inc (GIS) has been an excellent investment so far in 2020, with the stock returning nearly 13% year to date while the S&P 500 has lost slightly more than 4%. Not a bad return for the 150-year-old packaged foods company that counts Cheerios, Betty Crocker, Yoplait and Blue Buffalo among its most famous brands.
Much of this gain is due in large part to the Covid-19 pandemic, with the assumption that consumer packaged goods companies would be a prime beneficiary of the stay-at-home orders that were given out throughout the world in an effort to curb the spread
U.S. stocks were in the green on Wednesday on positive news amid advances on a potential Covid-19 vaccine. The Dow Jones Industrial Average gained 0.23% to 25,872, the S&P 500 Index rose 0.51% to 3,115 and the Nasdaq Composite Index was up 0.63% to 10,122.
- FedEx Corp. (FDX) +15%
- Constellation Brands Inc. (STZ) +8.1%
- Royal Caribbean Cruises Ltd. (RCL) +5.2%
- TechnipFMC PLC (FTI) +5.1%
- Host Hotels & Resorts Inc. (HST) +4.5%
- Xilinx, Inc. (XLNX) -3.3%
- Western Digital Corp. (WDC) -3%
- Invesco Ltd. (IVZ) -3.1%
The main European stock
U.S. stocks were in the red on Wednesday, with investors worried that the v-shaped recovery will not be immediate after Federal Reserve Chair Jerome Powesll said, “The recovery may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems.” The Dow Jones Industrial Average fell 2.80% to 23,138, the S&P 500 Index declined 2.29% to 2,804 and the Nasdaq Composite Index retreated 2.23% to 8,804.
Non-index stocks have also posted gains and losses recently. Shares of Alcon Inc. (ALC) gained more than
U.S. stocks ended trading in the red on Tuesday on the back of corporate earnings results. The Dow Jones Industrial Average fell 1.89% to 23,764, the S&P 500 Index declined 2.05% to 2,870 and the Nasdaq Composite retreated 2.06% to 9,002.
Non-index stocks have also posted gains and losses recently. Shares of Caesars Entertainment Corp. (CZR) gained 3% on Tuesday after the company announced first-quarter results. It posted a loss of 36
Hillman closed the General Mills Inc. (GIS) holding. The portfolio was impacted by -2.21%.
The packaged food producer has a market cap of $36.55 billion and an enterprise value of $49.86 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 29% and return on assets of 7.02% are outperforming 76% of companies in the consumer packaged goods industry.
As the Covid-19 pandemic continues to wreak havoc on the market, consumer defensive stocks have generally fared better than others sectors due to increased demand for staple goods like toilet paper and canned food.
On Friday, the major indexes ended the day higher, but were lower for the week. The Dow Jones Industrial Average closed at 23,775.27, gaining 1.11%. The S&P 500 closed at 2,836.74 for a gain of 1.39% and the Nasdaq Composite closed at 8,634.52, rising 1.65%.
The GuruFocus All-in-One Screener, a Premium feature, found several consumer packaged goods companies have bucked the trend of the overall
According to GuruFocus list of 52-week highs, these Guru stocks have reached their 52-Week Highs.
General Mills Inc. reached the 52-week high of $60.67
General Mills (GIS) is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food and ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, Blue Buffalo and Haagen-Dazs.
The price of General Mills Inc. shares has reached $60.67, which is 0.4% off the 52-week high of $60.92. General Mills Inc. has a
U.S. stocks were in the red on Wednesday on the back of economic data that showed retail sales and manufacturing output declined in March. The Dow Jones Industrial Average fell 1.70% to 23,533, the S&P 500 Index dipped 2.01% to 2,788 and the Nasdaq Composite Index declined 1.03% to 8,428.
Non-index stocks have also posted gains and losses recently. Shares of UnitedHealth Group Inc. (UNH) jumped almost 4% on Wednesday after the company announced first-quarter results.