Last $52.37 USD
Change Today +0.18 / 0.34%
Volume 2.7M
GIS On Other Exchanges
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Exchange
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As of 8:04 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

general mills inc (GIS) Snapshot

Open
$52.23
Previous Close
$52.19
Day High
$52.65
Day Low
$52.13
52 Week High
08/1/13 - $53.07
52 Week Low
06/3/13 - $46.18
Market Cap
32.2B
Average Volume 10 Days
3.4M
EPS TTM
$2.68
Shares Outstanding
614.5M
EX-Date
04/8/14
P/E TM
19.6x
Dividend
$1.64
Dividend Yield
2.96%
Current Stock Chart for GENERAL MILLS INC (GIS)

general mills inc (GIS) Details

General Mills, Inc. produces 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’s products include ready-to-eat cereals, refrigerated yogurt, ready-to-serve soups, dry dinners, shelf stable and frozen vegetables, ice creams and frozen desserts, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grains, fruit and savory snacks, and various organic products, including granola bars, cereals, and soups. General Mills, Inc. 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. The company was founded in 1928 and is based in Minneapolis, Minnesota.

41,000 Employees
Last Reported Date: 07/3/13
Founded in 1928

general mills inc (GIS) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.1M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $635.4K
Executive Vice President
Total Annual Compensation: $635.4K
Chief Operating Officer of US Retail and Exec...
Total Annual Compensation: $635.4K
Chief Compliance & Risk Management Officer, E...
Total Annual Compensation: $627.4K
Compensation as of Fiscal Year 2013.

general mills inc (GIS) Key Developments

General Mills, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended February 23, 2014; Provides Earnings Guidance for the Full Year Fiscal 2014

General Mills, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended February 23, 2014. For the quarter, the company reported net sales of $4,377.4 million against $4,430.6 million a year ago. Operating profit was $670.6 million against $642.1 million a year ago. Earnings before income taxes and after-tax earnings from joint ventures was $595.1 million against $565.5 million a year ago. Net earnings attributable to the company were $410.6 million or $0.64 per diluted share against net earnings attributable to the company of $398.4 million or $0.60 per diluted share a year ago. Adjusted operating profit was $647.8 million against $688.8 million a year ago. Adjusted net earnings attributable to the company were $396.2 million against $432.5 million a year ago. Adjusted diluted EPS, which excludes certain items affecting comparability, totaled 62 cents this year compared to 66 cents in last year's third quarter. Net sales for the third quarter of fiscal 2014 totaled $4.38 billion, down 1% from year-ago levels. Foreign exchange translation reduced net sales growth by 1% point. Net price realization and mix contributed 1 point of net sales growth, while lower pound volume reduced sales growth by 1 point. For the nine months, the company reported net sales of $13,625.8 million against $13,363.4 million a year ago. Operating profit was $2,275.5 million against $2,251.2 million a year ago. Earnings before income taxes and after-tax earnings from joint ventures was $2,052.5 million against $2,016.1 million a year ago. Net earnings attributable to the company were $1,419.8 million or $2.18 per diluted share against net earnings attributable to the company of $1,488.9 million or $2.24 per diluted share a year ago. Net cash provided by operating activities was $1,724.2 million against $2,145.7 million a year ago. Purchases of land, buildings, and equipment were $416.4 million against $412.2 million a year ago. Adjusted operating profit was $2,236.0 million against $2,281.2 million a year ago. Adjusted net earnings attributable to the company were $1,395.8 million against $1,448.7 million a year ago. Adjusted diluted EPS totaled $2.15 through the first nine months compared to $2.18 a year ago. Lower pound volume reduced net sales growth by 1% point, while net price realization and mix contributed 8 points of growth. Foreign currency exchange reduced net sales growth by 5% points. The company provided earnings guidance for the full year fiscal 2014. The company expects fiscal 2014 adjusted diluted EPS of between $2.87 and $2.90 per share. Adjusted diluted EPS excludes mark-to-market valuation effects for certain commodities and grain inventories; restructuring and other exit costs; and the impact of changes in Venezuelan foreign currency policy. The company anticipates strong double-digit growth in adjusted diluted EPS for the final quarter of fiscal 2014. The company also expect the quarterly tax rate and the average number of shares outstanding to be well the below the prior-year.

General Mills Mulls Acquisitions

General Mills, Inc. (NYSE:GIS) is looking for acquisitions. Ken Powell, Chief Executive Officer of General Mills said, "Emerging markets, obviously our move in Brazil was very instrumental in that respect about a year and a half ago. So we continue to look and, as we have said before, we are interested in expanding our businesses and getting a larger footprint particularly in Indonesia and India".

General Mills Announces Earnings Guidance for the Third Quarter Ended February 23, 2014, Fourth Quarter of 2014 and Reaffirms Earnings Guidance for the Fiscal Year Ending May 25, 2014

General Mills announced earnings guidance for the third quarter ended February 23, 2014, fourth quarter of 2014 and reaffirms earnings guidance for the fiscal year ending May 25, 2014. For the third quarter, the company announced its sales and operating profit, will reflect approximately 1% lower volume, consistent with recent food industry trends in developed markets, as well as negative foreign currency translation effects. In addition, results for the quarter include incremental consumer marketing and merchandising investment in the company's U.S. yogurt business, where response to-date has been encouraging. Third-quarter operating profit for the company's U.S. Retail segment is expected to be 10-11% below strong year-ago results that grew 13%. Total segment operating profit is also expected to be below last year's strong third-quarter level. Adjusted diluted EPS for the fiscal 2014 third quarter are expected to total approximately $0.61-$0.62. For the fourth quarter of 2014, the company expected to record strong double-digit growth in adjusted diluted EPS in the fourth quarter of fiscal 2014, when the expected rate of input cost inflation, the quarterly tax rate, and the average number of shares outstanding will each be well below prior-year levels. For the fiscal year ending May 25, 2014, the continues to expected adjusted diluted earnings per share to total between $2.87 and $2.90 per share. Adjusted diluted EPS excludes mark-to-market valuation effects for certain commodities and grain inventories; restructuring and other exit costs; and now also excludes the impact of changes in Venezuelan foreign currency policy. Consistent with company strong operating cash flows, anticipated earnings growth in 2014, and continuing growth expected in fiscal 2015.

 

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Industry Analysis

GIS

Industry Average

Valuation GIS Industry Range
Price/Earnings 19.1x
Price/Sales 1.8x
Price/Book 5.1x
Price/Cash Flow 18.0x
TEV/Sales 1.2x
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