44.58 +0.13 (0.29%)
After hours: 5:57PM EDT
|Bid||44.56 x 900|
|Ask||44.57 x 200|
|Day's Range||44.44 - 45.94|
|52 Week Range||44.44 - 60.69|
|PE Ratio (TTM)||16.30|
|Earnings Date||Mar 19, 2018 - Mar 23, 2018|
|Forward Dividend & Yield||1.96 (4.31%)|
|1y Target Est||55.39|
General Mills Inc. shares saw its price target cut at least three times with analysts expressing surprise and concern after third-quarter earnings were announced. RBC Capital Markets analysts cut their ...
•...follow up on General Mills (GIS) following yesterday's big drop. For the full year it expects earnings of $2.36 to $2.42 a share on revenue of $1.495 billion to $1.51 billion, while consensus calls for earnings of $2.42 a share on revenue of $1.51 billion.
Analysts expect McCormick (MKC) to sustain its stellar growth momentum in fiscal 1Q18 and project the company will post sales of $1.2 billion, up 18.7% on a YoY (year-over-year) basis. Strength in its base business, new product launches, and incremental sales from the RB Foods acquisition is likely to drive the company’s top-line growth. Also, McCormick is witnessing improved sales trends across all geographies, particularly in North America and China.
NEW YORK, NY / ACCESSWIRE / March 22, 2018 / General Mills shares were deep in the red on Wednesday after a disappointing outlook was given for the full year. Shares were down nearly 10% during intra-day ...
Delivering up-to-the minute news, analysis, interviews and explanatory journalism on logistics, supply-chain management, e-commerce and more
Range Resources (RRC) shot to the top of the S&P 500 on Wednesday, helped by rising oil prices. It gained $1.09, or 7.6%, to $15.40, while the S&P 500 lost 5.01 points, or 0.18%, to 2711.93. The stock ...
Packaged-food companies already are struggling to respond to a shift in consumer preferences toward healthier, simpler foods. Having shrunk for several quarters, organic net sales growth turned modestly positive over the past two quarters.
General Mills tumbled Wednesday after the Cheerios and Yoplait maker cut its full-year earnings outlook, citing cost headwinds. Other packaged food giants dove.
Shares of General Mills (GIS) are sinking on Wednesday, after the packaged food giant reported fiscal third-quarter earnings. General Mills' quarter actually came in better than expected, as it earned 79 cents a share on revenue of $3.88 billion, while analysts were looking for earnings of $78 cents a share on revenue of $3.87 billion. The shares, currently down more than 9%, are on track to notch their lowest close in more than five years, and their largest decrease since 2009. General Mills is also weighing on plenty of other food staples stocks as well: J.M. Smucker (SJM), Kellogg (K), ConAgra (CAG), and Campbell Soup (CPB) are all among the top ten losers in the S&P 500 at midday. In addition, while cost pressures are weighing on General Mills, he writes that it's an industry-wide problem, and that the company is still "better positioned for revenue/operating leverage recovery." CFRA's Joseph Agnese also reiterated a Buy rating on the stock, although he lowered his price target by $12, to $51, writing that while M&A will boost the company's growth profile in the long run, he acknowledges that rising food and freight costs may hamper the shares in the near term. General Mills has tumbled 9.5% to $45.19 this afternoon.
General Mills Inc. will raise prices on some meals and snacks to reflect higher ingredient and shipping costs, as food companies battle inflationary pressures that are eating into profits. The maker of Cheerios cereal and Yoplait yogurt said freight costs in North America were near 20-year highs in February and food prices were also higher than expected, prompting the conglomerate to lower its earnings expectations for the year. “We are seeing an unprecedented rise in logistics costs,” Chief Executive Jeff Harmening said in an interview.
U.S. stocks rose on Wednesday, building on earlier gains after the U.S. Federal Reserve raised interest rates as expected and a recovery on Facebook shares. The Federal Reserve raised interest rates and forecast at least two more hikes for 2018, signaling growing confidence that U.S. tax cuts and government spending will boost the economy and inflation and lead to more aggressive future tightening.
The stock market initially cheered the latest decision on interest rates from the Fed. But, should it be a little more cautious?
Look no further than the latest earnings report from General Mills for signs of inflationary pressures building in the U.S. economy.