Cheerios maker General Mills stock tumbles after sales disappoint [CNBC]
General Mills, Inc. (GIS)
Last general mills, inc. earnings: 3/18 07:00 am
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Source: CNBC
Cheerios maker General Mills stock tumbles after sales disappoint Shares of General Mills The company's stock, which has a market value of $29.6 billion, fell by 8% during morning trading. Net sales for General Mills' North American retail segment, which accounts for more than half of the company's revenue, fell 2% during its fiscal-fourth quarter ended May 26. It partially attributed the drop to a decline in its U.S. snacks business, which includes its popular Chex Mix and Nature Valley granola bars. The company said U.S. retail sales for its meals and baking, yogurt and cereal segments were unchanged from a year ago. The Minneapolis-based food giant has been trying to adapt to changing consumer tastes as its sales growth has slowed. Revenue rose 7% during the quarter to $4.16 billion, thanks to the company's acquisition of Blue Buffalo Pet ducts. Net sales still fell short of average estimates by analysts surveyed by Refinitiv. They were expecting revenue of $4.24 billion. The comp
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News
- General Mills, Inc. (NYSE: GIS) had its price target lowered by analysts at Barclays PLC from $74.00 to $68.00. They now have an "equal weight" rating on the stock.MarketBeat
- General Mills, Inc. (NYSE: GIS) had its price target lowered by analysts at Citigroup Inc. from $71.00 to $67.00. They now have a "neutral" rating on the stock.MarketBeat
- General Mills, Inc. (NYSE: GIS) had its price target lowered by analysts at Stifel Nicolaus from $82.00 to $78.00. They now have a "buy" rating on the stock.MarketBeat
- General Mills, Inc. (NYSE: GIS) had its "sector perform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $70.00 price target on the stock.MarketBeat
- General Mills, Inc. (NYSE: GIS) had its price target lowered by analysts at TD Cowen from $75.00 to $64.00. They now have a "hold" rating on the stock.MarketBeat
GIS
Earnings
- 12/18/24 - Beat
GIS
Sec Filings
- 12/20/24 - Form 144
- 12/18/24 - Form 10-Q
- 12/18/24 - Form 8-K
- GIS's page on the SEC website