General Mills Bounces on Q2 Figures

General Mills (GIS) Announces Earnings Results

Financial Counselors Inc. lifted its holdings in shares of General Mills by 25.8% in the 1st quarter. Ngam Advisors L.P. now owns 20,405 shares of the company's stock valued at $1,204,000 after acquiring an additional 2,732 shares during the last quarter. AE Wealth Management LLC's holdings in General Mills were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC). It is positive, as 73 investors sold GIS shares while 363 reduced holdings. During the same period in the previous year, the business earned $0.78 EPS. equities analysts forecast that General Mills, Inc. will post 3.1 EPS for the current year.

General Mills, Inc.is a leading global food company that serves the world by making food people love. Btg Pactual Global Asset Management Ltd bought 93,244 shares as the company's stock rose 6.99% with the market.

General Mills credited the increase in US cereal sales during the second quarter to strong demand for its new Chocolate Peanut Butter Cheerios product and to positive performances by its iconic Lucky Charms, Cinnamon Toast Crunch, Reese's Puffs, and Cocoa Puffs brands.

The effective tax rate in the quarter was 35.9 percent compared to 32.8 percent last year, driven by a $42 millionprior-year adjustment (please see Note 7 below for more information on our effective tax rate). Ngam Advisors L.P. boosted its position in shares of General Mills by 15.5% during the 1st quarter.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 3.66%, and has a solid year to date (YTD) performance of -6.7% which means that the stock is constantly adding to its value from the previous fiscal year end price. Hedge funds and other institutional investors own 72.62% of the company's stock. (NYSE:GIS) on Wednesday, March 22 to "Hold" rating. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 1.83.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 20th.

Diluted EPS of $0.74 declined 8%, with lower net earnings offset by 3% fewer average diluted shares outstanding.

For the full fiscal year, General Mills estimates sales growth to between flat and down 1 percent, better than its previous outlook of a 1 to 2 percent decline. General Mills had a net margin of 10.68% and a return on equity of 39.82%.

Adjusted diluted EPS, which excludes certain items affecting comparability of results, totaled $0.82 in the second quarter, down 4 percent from the prior year.

General Mills today reported second-quarter earnings of 74 cents per share, a decline of 8 percent, despite signs of reviving sales.

GIS has been the topic of a number of recent research reports. Susquehanna Bancshares set a $60.00 price objective on shares of General Mills and gave the company a "hold" rating in a report on Tuesday. Zacks Investment Research downgraded shares of General Mills from a "hold" rating to a "sell" rating in a report on Monday, October 23rd. BidaskClub raised shares of General Mills from a "hold" rating to a "buy" rating in a research report on Tuesday, August 22nd. Finally, Consumer Edge upgraded shares of General Mills from a "sell" rating to a "neutral" rating in a report on Friday, September 8th. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. The stock has "Hold" rating by Zacks on Wednesday, August 5.

ILLEGAL ACTIVITY NOTICE: This article was originally published by Week Herald and is the property of of Week Herald. If you are viewing this piece of content on another domain, it was illegally stolen and republished in violation of USA & worldwide copyright legislation. BMO Capital Markets maintained General Mills, Inc.

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