Cheerios maker General Mills' sales miss estimates
- Author: Rita Burton Mar 22, 2017,
Mar 22, 2017, 0:35
To cater to the evolving consumer tastes, General Mills is investing in consumer-focused innovation and marketing and accelerating its natural and organic product portfolio to improve sales.
GIS's revenue has grown at an average annualized rate of about 2.2% during the past five years.
The share price of the company (NYSE:GIS) was down -0.25%, with a high of 61.15 during the day and the volume of General Mills, Inc. shares traded was 10957793. The stock gained a consensus recommendation of 2.64 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell.
Earnings estimate: "11" Analysts are saying that the company to report next quarterly earnings of $0.94 per share for period Quarter Ending_Nov-17. General Mills, Inc. (NYSE:GIS), at its latest closing price of $60.26, it has a price-to-book ratio of 8.40, compared to an industry average at 3.45.
The decline in sales was larger than Wall Street expected, and shares fell 2.2% to $58.91 in premarket trading.More news: How Iron Fist connects to the rest of the Marvel Cinematic Universe
General Mills, Inc. shares fell $0.40 (-0.66%) in premarket trading Tuesday. Following the completion of the transaction, the director now directly owns 54,676 shares of the company's stock, valued at approximately $3,325,941.08. (NYSE:GIS) shares have seen a move of -1.03%. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision. General Mills had a return on equity of 35.10% and a net margin of 10.23%. Shareholders 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. Jacobi Capital Management LLC now owns 2,500 shares of the company's stock worth $158,000 after buying an additional 2,000 shares during the last quarter. The ex-dividend date is Thursday, April 6th.
General Mills is best-known as the maker of Cheerios - but when it comes to the company's earnings results, yogurt is the bigger story. At present, the Gross Margin for General Mills, Inc. They now have a United States dollars 63 price target on the stock. 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. Its share price has decline -3.33% in three months and is down -0.43% for the last five trades. The stock has reduced about -3.8% since it reported its last earnings. The transaction was disclosed in a filing with the SEC, which is available at this link.
On Tuesday, the maker of Cheerios cereal and Yoplait yogurt reported sales declines across all major segments in the key USA market, led by the decline for yogurt though sales were also weaker for cereal, snacks, and meals & baking. General Mills has been trying to win back consumers who have ditched traditional processed foods like its Yoplait yogurt for more natural alternatives.
The meals and baking category includes products under the Helper, Progresso, Old El Paso, Totino's, Betty Crocker and Pillsbury brands.