General Mills (NYSE:GIS) issued its earnings results on Wednesday. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.13, RTT News reports. General Mills had a net margin of 12.37% and a return on equity of 27.66%. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $0.79 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis.
GIS opened at $57.99 on Wednesday. The stock has a market cap of $35.43 billion, a PE ratio of 16.29, a P/E/G ratio of 2.22 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.68 and a debt-to-equity ratio of 1.31. General Mills has a 52 week low of $46.59 and a 52 week high of $66.14. The business’s fifty day simple moving average is $62.25 and its 200 day simple moving average is $60.19.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be issued a dividend of $0.51 per share. This is an increase from General Mills’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.52%. General Mills’s payout ratio is currently 54.29%.
In related news, insider Shawn P. Ogrady sold 44,147 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $64.50, for a total transaction of $2,847,481.50. Following the transaction, the insider now directly owns 185,213 shares of the company’s stock, valued at approximately $11,946,238.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jodi J. Benson sold 2,667 shares of the business’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $65.05, for a total value of $173,488.35. Following the completion of the sale, the insider now owns 42,723 shares of the company’s stock, valued at approximately $2,779,131.15. The disclosure for this sale can be found here. Insiders have sold 60,711 shares of company stock worth $3,920,384 in the last 90 days. Company insiders own 0.51% of the company’s stock.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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