General Mills (GIS) announced its most recent quarterly financial results on Wednesday, Sep-21-2016. GIS said it had a profit of $0.78 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.75. The company posted revenue of $3900.00 million in the period, compared to analysts expectations of $3915.06 million. GIS’s revenue was down -7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.
Many Wall Street Analysts have commented on General Mills. Company shares were Reiterated by UBS on Jul 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 71 from a previous price target of $60 .General Mills was Upgraded by BofA/Merrill to ” Neutral” on Jun 30, 2016. Company shares were Reiterated by RBC Capital Mkts on Jun 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .
General Mills closed down -0.51 points or -0.78% at $64.7 with 35,27,621 shares getting traded on Tuesday. Post opening the session at $65.2, the shares hit an intraday low of $64.66 and an intraday high of $65.4002 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Aug 22, 2016, Michael D Rose (director) sold 10,000 shares at $71.11 per share price. According to the SEC, on Aug 16, 2016, John R Church (Executive Vice President) sold 99,373 shares at $71.09 per share price. On Aug 12, 2016, Jeffrey L Harmening (President, COO) sold 33,150 shares at $71.05 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.