During the last session, General Mills, Inc. (NYSE:GIS)’s traded shares were 3.63 million, with the beta value of the company hitting 0.14. At the end of the trading day, the stock’s price was $69.79, reflecting an intraday loss of -0.84% or -$0.59. The 52-week high for the GIS share is $90.89, that puts it down -30.23 from that peak though still a striking 13.55% gain since the share price plummeted to a 52-week low of $60.33. The company’s market capitalization is $39.40B, and the average intraday trading volume over the past 10 days was 4.71 million shares, and the average trade volume was 4.30 million shares over the past three months.
General Mills, Inc. (NYSE:GIS) trade information
General Mills, Inc. (GIS) registered a -0.84% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.84% in intraday trading to $69.79, hitting a weekly high. The stock’s 5-day price performance is -0.26%, and it has moved by 6.97% in 30 days. Based on these gigs, the overall price performance for the year is -18.91%. The short interest in General Mills, Inc. (NYSE:GIS) is 13.77 million shares and it means that shorts have 3.42 day(s) to cover.
General Mills, Inc. (GIS) estimates and forecasts
Statistics show that General Mills, Inc. has underperformed its competitors in share price, compared to the industry in which it operates. General Mills, Inc. (GIS) shares have gone up 10.60% during the last six months, with a year-to-date growth rate less than the industry average at 4.88% against 9.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -10.70% this quarter and then jump 5.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -0.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $4.88 billion as predicted by 14 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $4.92 billion by the end of Aug 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 3.46%. While earnings are projected to return 4.66% in 2024, the next five years will return 7.46% per annum.
GIS Dividends
General Mills, Inc. is due to release its next quarterly earnings between June 26 and July 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for General Mills, Inc. is 2.31, with the dividend yield indicating at 3.31 percent, continuing the trend of increasing dividends in recent years.
General Mills, Inc. (NYSE:GIS)’s Major holders
General Mills, Inc. insiders own 0.21% of total outstanding shares while institutional holders control 79.09%, with the float percentage being 79.25%. Blackrock Inc. is the largest shareholder of the company, while 2,052 institutions own stock in it. As of Jun 29, 2023, the company held over 54.71 million shares (or 9.41% of all shares), a total value of $4.2 billion in shares.
The next largest institutional holding, with 52.05 million shares, is of Vanguard Group Inc’s that is approximately 8.95% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $3.99 billion.
Also, the Mutual Funds coming in first place with the largest holdings of General Mills, Inc. (GIS) shares are Vanguard Total Stock Market Index Fund and American Mutual Fund Inc. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 18.33 million shares. This amounts to just over 3.15 percent of the company’s overall shares, with a $1.41 billion market value. The same data shows that the other fund manager holds slightly less at 16.9 million, or about 2.91% of the stock, which is worth about $1.08 billion.
