uploads///gis pm

General Mills Declares a Dividend of $0.48 per Share

By

Sep. 28 2016, Updated 5:04 p.m. ET

Price movement

General Mills (GIS) has a market cap of $37.8 billion. It rose 0.03% to close at $63.92 per share on September 27, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -1.2%, -9.8%, and 13.3%, respectively, on the same day.

GIS is trading 4.7% below its 20-day moving average, 8.1% below its 50-day moving average, and 1.5% above its 200-day moving average.

Article continues below advertisement

Related ETF and peers

The Fidelity MSCI Consumer Staples ETF (FSTA) invests 1.9% of its holdings in General Mills. The ETF tracks a market-cap-weighted index of stocks in the US consumer staples sector. The YTD price movement of FSTA was 6.4% on September 27, 2016.

The market caps of General Mills’ competitors are as follows:

  • Kellogg (K): $27.1 billion
  • Hershey (HSY): $20.2 billion
  • Post Holdings (POST): $5.1 billion

General Mills declared a dividend

General Mills has declared a quarterly dividend of $0.48 per share on its common stock. The dividend will be paid on November 1, 2016, to shareholders of record as of October 10, 2016.

Article continues below advertisement

Performance of General Mills in fiscal 1Q17

General Mills reported fiscal 1Q17 net sales of $3.9 billion, a fall of 7.1% compared to $4.2 billion in fiscal 1Q16. Sales of its US retail, international, and convenience stores and food service segments fell 7.9%, 5.8%, and 6.6%, respectively, in fiscal 1Q17 compared to fiscal 1Q16. The company’s gross profit margin and operating profit fell 1.6% and 5.5%, respectively, in fiscal 1Q17 compared to the prior year’s period.

Its net income and EPS (earnings per share) fell to $409.0 million and $0.67, respectively, in fiscal 1Q17 compared to $426.6 million and $0.69, respectively, in fiscal 1Q16. It reported adjusted EPS of $0.78 in fiscal 1Q17, a fall of 1.3% compared to fiscal 1Q16.

GIS’s cash and cash equivalents and inventories rose 0.26% and 9.5%, respectively, in fiscal 1Q17 compared to fiscal 4Q16. Its current ratio and debt-to-equity ratio rose to 0.80x and 3.0x, respectively, in fiscal 1Q17 compared to 0.79x and 2.9x, respectively, in fiscal 4Q16.

Projections

General Mills (GIS) made the following projections for fiscal 2017:

  • organic net sales growth between 0% and -2%
  • total segment operating profit growth of 6%–8% on a constant currency basis
  • adjusted operating profit margin growth of ~1.5%
  • adjusted EPS growth of 6%–8% on a constant currency basis

Now we’ll look at Fortune Brands Home & Security (FBHS).

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.