Elizabeth Warren Presses Coca-Cola, Pepsi, General Mills on Shrinkflation [BNN Bloomberg (Canada)]
General Mills, Inc. (GIS)
Last general mills, inc. earnings: 3/18 07:00 am
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Source: BNN Bloomberg
Warren and Dean, in separate letters addressed to the chief executive officer of each company, criticized their practice of boosting profits through methods such as reducing the size of products including soda or cereal. “Unfortunately, this price gouging is a widespread problem, with corporate profits driving over half of inflation,” the lawmakers wrote in their letters to the CEOs. The lawmakers asked Coca-Cola and PepsiCo to provide the average annual price per ounce of their soda products from 2018 to 2024, and General Mills has been asked for the annual price per ounce of cereal products for the same timeframe. PepsiCo declined to comment. Coca-Cola and General Mills did not immediately respond to requests for comment. --With assistance from Deena Shanker. ©2024 Bloomberg L.P.
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News
- General Mills, Inc. (NYSE: GIS) had its price target raised by analysts at JPMorgan Chase & Co. from $63.00 to $67.00. They now have a "neutral" rating on the stock.MarketBeat
- General Mills, Inc. (NYSE:GIS) is largely controlled by institutional shareholders who own 80% of the company [Yahoo! Finance]Yahoo! Finance
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GIS
Earnings
- 9/18/24 - Beat
GIS
Sec Filings
- 10/25/24 - Form 4
- 10/23/24 - Form 144
- 10/17/24 - Form 4
- GIS's page on the SEC website