General Mills, Inc. manufactures and markets branded consumer foods in the United States and internationally. It also supplies branded and unbranded food products to the foodservice and commercial baking industries. The company operates in three segments: U.S. Retail, International, and Convenience Stores and Foodservice. Its products include ready-to-eat cereals; convenient meals, including meal kits, ethnic meals, pizza, soups, side dish mixes, frozen breakfast, and frozen entrees; snacks comprising grain, fruit, and savory snacks, as well as nutrition bars and frozen hot snacks; refrigerated yogurt products; ice creams; baking mixes and ingredients; refrigerated and frozen dough products; and frozen and shelf-stable vegetable products. In addition, the companys products comprise organic products, such as meal kits, granola bars, and cereal. The company sells its products directly, as well as through broker and distribution arrangements to grocery stores, mass merchandisers, membership stores, natural food chains, commercial and noncommercial foodservice distributors and operators, restaurants, and convenience stores, as well as to drug, dollar, and discount chains. Further, it owns retail shops that offer ice creams and frozen desserts. General Mills, Inc. also exports its products primarily to Caribbean and Latin American markets. The company was founded in 1928 and is based in Minneapolis, Minnesota.
Shares of General Mills ($GIS) are moving lower in pre-market trading after the food producer reported third quarter earnings that exceeded analyst estimates but on weaker than expected revenues.
In light of steadfast dividend news, stock should gradually run up until ex-dividend unless some other negative catalyst transpires.
The overall sales for General Mills rose in the latest quarter despite a decline in its North American business. The company said that net sales rose 8.6% to $4.09 billion. Sales climbed in Europe, Australia, Asia, and Latin America, as well as in the convenience stores and food-service division. The analysts expected the company to earn $0.64 per share on revenue of $4.12 billion.
Honeywell and General Mills Boost Their Dividends This Week -- Barrons.com 7:29 am ET September 26, 2020 (Dow Jones) Print By Lawrence C. Strauss Honeywell International and General Mills were among the U.S. companies that announced dividend increases this week as several other firms maintained their payouts at current levels. Honeywell International (ticker: HON), a manufacturing conglomerate whose many products include thermostats and business jet engines, plans to boost its quarterly dividend by 3 cents to 93 cents a share. That's a 3% increase. That equates to an annual dividend of $3.72 a share. The stock, which yields 2.2%, is down 7% this year. General Mills (GIS), maker of cereal, snacks and other food items, declared a quarterly disbursement of 51 cents a share, compared with 49 cents now. That's a 4% boost. The stock has gained about 15% this year, dividends included. It yields 3.4%. Some other companies kept their dividends are current levels. They include retailer Target (TGT), which is paying 68 cents on a quarterly basis, pharmaceutical business Pfizer (PFE) at 38 cents a share, Mastercard (MA) at 40 cents a share and Campbell Soup (CPB) at 35 cents a share. Target's yield is 1.8%, Campbell Soup's is 2.9%, Pfizer's is 4.3%, and Mastercard's is 0.5%. Write to Lawrence C. Strauss at [email protected] (END) Dow Jones Newswires September 26, 2020 07:29 ET (11:29 GMT) Copyright (c) 2020 Dow Jones & Company, Inc.
Bought General Mills at 71. If your going long this is to buy. Oversold sell what you got and put it in #GIS.
Jul-14-23 Upgrade Argus Hold → Buy $90 Apr-14-23 Resumed Stifel Buy $95 Feb-01-23 Initiated Mizuho Neutral $75 Jan-27-23 Upgrade UBS Neutral → Buy $85 → $88 Jan-03-23 Initiated Wells Fargo Equal Weight Dec-06-22 Downgrade Deutsche Bank Buy → Hold $88 Nov-15-22 Initiated Exane BNP Paribas Outperform $90 Mar-30-22 Initiated UBS Neutral $69 Oct-01-21 Upgrade Citigroup Neutral → Buy $63 → $70 Sep-23-21 Reiterated RBC Capital Mkts
Check this tweet by company https://twitter.com/GeneralMills/status/1691438665526820864?t=po0UM1pRmgHIMxzD93_KqA&s=19 "We're sorry for the wait! We expect the stock to return to normal in October 2023."
