General Mills (GIS) reported quarterly earnings results on Wednesday, Jun-29-2016. The company said it had a profit of $0.66 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.60. The company posted revenue of $3928.00 million in the period, compared to analysts expectations of $3860.63 million. The company’s revenue was down -8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.
Many Wall Street Analysts have commented on General Mills. Company shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $64 .Goldman Downgraded General Mills on May 24, 2016 to ” Sell”, Price Target of the shares are set at $58.
General Mills opened for trading at $65.83 and hit $66.4 on the upside on Monday, eventually ending the session at $66.19, with a gain of 0.08% or 0.05 points. The heightened volatility saw the trading volume jump to 42,53,930 shares. Company has a market cap of $39,343 M.
In a different news, on May 13, 2016, Donal L Mulligan (Executive Vice President) sold 45,968 shares at $64.50 per share price. According to the SEC, on Apr 7, 2016, Dorothy A Terrell (director) sold 10,280 shares at $64.51 per share price. On Apr 6, 2016, John R Church (Executive Vice President) sold 78,673 shares at $64.85 per share price, according to the Form-4 filing with the securities and exchange commission.
General Mills Inc. is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S. Retail International and Convenience Stores and Foodservice. The Company offers a range of food products with a focus on five categories: ready-to-eat cereal; convenient meals including meal kits ethnic meals pizza soup side dish mixes frozen breakfast and frozen entrees; snacks including grain fruit and savory snacks nutrition bars and frozen hot snacks; yogurt and super-premium ice cream. The Company’s other product categories include baking mixes and ingredients; refrigerated and frozen dough and frozen and shelf-stable vegetables. The Company has 50% interests in two joint ventures that manufacture and market food products.