General Mills (NYSE:GIS) Posts Earnings Results, Beats Estimates By $0.02 EPS

General Mills (NYSE:GIS) issued its quarterly earnings results on Wednesday. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02, Zacks reports. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 EPS. General Mills updated its FY 2026 guidance to 3.580-3.790 EPS.

General Mills Trading Down 0.6%

NYSE:GIS opened at $50.38 on Friday. General Mills has a 52 week low of $50.24 and a 52 week high of $75.90. The firm has a 50-day moving average price of $54.48 and a two-hundred day moving average price of $58.47. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.44 and a current ratio of 0.67. The firm has a market cap of $27.77 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 1.25 and a beta of 0.02.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 4.84%. This is an increase from General Mills’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, July 10th. General Mills’s dividend payout ratio is presently 52.75%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America cut their target price on General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays cut their target price on shares of General Mills from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday. The Goldman Sachs Group downgraded General Mills from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $58.00 in a research note on Monday, June 9th. Morgan Stanley reiterated an “underweight” rating and issued a $51.00 target price (down from $53.00) on shares of General Mills in a report on Tuesday. Finally, Citigroup reduced their price target on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $60.50.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.