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Last $56.45 USD
Change Today 0.00 / 0.00%
Volume 0.0
GIS On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 04/20/15 All times are local (Market data is delayed by at least 15 minutes).

general mills inc (GIS) Snapshot

Open
$56.69
Previous Close
$56.09
Day High
$57.12
Day Low
$56.40
52 Week High
04/6/15 - $57.73
52 Week Low
10/15/14 - $48.32
Market Cap
33.6B
Average Volume 10 Days
2.6M
EPS TTM
$2.70
Shares Outstanding
596.1M
EX-Date
04/8/15
P/E TM
20.9x
Dividend
$1.76
Dividend Yield
2.96%
Current Stock Chart for GENERAL MILLS INC (GIS)

general mills inc (GIS) Details

General Mills, Inc. manufactures 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 operates in three segments: U.S. Retail, International, and Convenience Stores and Foodservice. Its products include ready-to-eat cereals; convenient meals, including meal kits, ethnic meals, pizza, frozen breakfast, and frozen entrees; snacks comprising grain, fruit, and savory snacks, as well as nutrition bars and frozen hot snacks; refrigerated yogurt products; ice creams; baking mixes and ingredients; refrigerated and frozen dough products; and frozen and shelf-stable vegetable products. In addition, the company’s products comprise organic products, such as granola bars, cereals, and soups. It 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. Further, it owns retail shops that offer ice creams and frozen desserts. General Mills, Inc. also exports its products primarily to Caribbean and Latin American markets. The company was founded in 1928 and is based in Minneapolis, Minnesota.

43,000 Employees
Last Reported Date: 07/3/14
Founded in 1928

general mills inc (GIS) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.2M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $653.4K
Executive Vice President and Chief Operating ...
Total Annual Compensation: $653.4K
Compensation as of Fiscal Year 2014.

general mills inc (GIS) Key Developments

General Mills, Inc. Announces Retirement of Hilda Ochoa-Brillembourg to the Board of Directors

General Mills, Inc. announced that Hilda Ochoa-Brillembourg has informed the company that she has decided not to stand for re-election at the company's next annual meeting of shareholders in order to focus her time and attention on other interests. Ms. Ochoa-Brillembourg has served on the board of directors since 2002, and will continue to serve through the remainder of her current term, which concludes in September 2015, on the date of the company's next annual meeting.

General Mills Completes Plan to Cut About 800 Jobs

General Mills announced that it has completed a plan to eliminate about 800 positions. General Mills said that the previously announced job cuts, which were mostly in the U.S., were part of a restructuring plan called Project Catalyst that was approved during its fiscal second quarter. The company also has a restructuring plan called Project Century. As part of that plan, General Mills is reducing its refrigerated dough capacity and exiting its Canada and New Albany, Indiana, facilities. The plants support its U.S. retail, international and convenience stores and foodservice supply chains. Exiting the Canadian plant will impact about 100 jobs, while exiting the Indiana facility will affect approximately 400 positions. The actions are anticipated to be completed by the end of fiscal 2018. Project Century also includes the closing of a facility in Methuen, Massachusetts, that would eliminate about 250 positions, and exiting its Lodi, California facility, which would impact about 430 positions. All of those job cuts are expected to be completed by fiscal 2016 end.

General Mills, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and First Nine Months Ended February 22, 2015; Re-Affirms Earnings Guidance for the Full Year of Fiscal 2015; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2015

General Mills, Inc. announced unaudited consolidated earnings results for the third quarter and first nine months ended February 22, 2015. For the quarter, the company announced net sales of $4,350.9 million compared to $4,377.4 million for the same period a year ago. Operating profit was $537.2 million compared to $670.6 million for the same period a year ago. Earnings before income taxes and after-tax earnings from joint ventures was $457.2 million compared to $595.1 million for the same period a year ago. Net earnings, including earnings attributable to redeemable and non-controlling interests was $353.8 million compared to $417.0 million for the same period a year ago. Net earnings attributable to the company were $343.2 million compared to $410.6 million for the same period a year ago. Earnings per share, diluted were $0.56 compared to $0.64 for the same period a year ago. Adjusted operating profit was $666.2 million compared to $647.8 million for the same period a year ago. Adjusted net earnings attributable to the company were $427.6 million compared to $396.2 million for the same period a year ago. Adjusted pre-tax earnings were $586.2 million compared to $572.3 million for the same period a year ago. Adjusted diluted EPS was, which excludes certain items affecting comparability of results, totaled 70 cents in the third quarter of 2015, up 13% from 62 cents in last year's third quarter. On a constant-currency basis, adjusted diluted EPS grew 15%. For the first nine months, the company announced net sales of $13,331.5 million compared to $13,625.8 million for the same period a year ago. Operating profit was $1,653.7 million compared to $2,275.5 million for the same period a year ago. Earnings before income taxes and after-tax earnings from joint ventures was $1,417.9 million compared to $2,052.5 million for the same period a year ago. Net earnings, including earnings attributable to redeemable and non-controlling interests was $1,061.6 million compared to $1,445.9 million for the same period a year ago. Net earnings attributable to the company were $1,034.5 million compared to $1,419.8 million for the same period a year ago. Earnings per share, diluted were $1.67 compared to $2.18 for the same period a year ago. Net cash provided by operating activities was $1,561.4 million compared to $1,724.2 million for the same period a year ago. Purchases of land, buildings, and equipment were $490.9 million compared to $416.4 million for the same period a year ago. Adjusted operating profit was $2,088.4 million compared to $2,236.0 million for the same period a year ago. Adjusted net earnings attributable to the company were $1,308.0 million compared to $1,395.8 million for the same period a year ago. Adjusted pre-tax earnings were $1,852.6 million compared to $2,013.0 million for the same period a year ago. Adjusted diluted EPS totaled $2.11 this year to date, compared to $2.15 a year ago. Foreign currency exchange reduced fiscal 2015 nine-month adjusted diluted EPS by approximately 4 cents. The company re-affirmed earnings guidance for the full year of fiscal 2015. Net sales in constant currency are expected to grow at a low single-digit rate from the 2014 base of $17.9 billion. This includes an estimated 2 points of sales growth from the extra week and incremental sales from the Annie's acquisition. Total segment operating profit in constant currency is expected to decline at a low single-digit rate from prior-year results of $3.15 billion. Fiscal 2015 adjusted diluted earnings per share are expected to grow at a low-single-digit rate in constant currency from the base of $2.82 earned in fiscal 2014. At current exchange rates, the company estimates a 7-cent reduction to fiscal 2015 adjusted diluted EPS from currency translation. The company continues to estimate full year capital expenditure of $750 million, including the incremental spending related to Project Century. The company expects full year operating cash flow, including cash restructuring charges, to be comparable to last year's levels, including the 53rd week and the addition of Annie's. The company expects full year adjusted effective tax rate to be 100 basis points lower than last year's due primarily to favorable earnings mix by country. The company expects to deliver mid-single-digit sales growth for 2015. In the fourth quarter, the company expects adjusted gross margin will roughly match last year's levels, reflecting the impact of lower trade expense and moderating input cost inflation.

 

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Industry Analysis

GIS

Industry Average

Valuation GIS Industry Range
Price/Earnings 24.3x
Price/Sales 1.9x
Price/Book 6.1x
Price/Cash Flow 23.2x
TEV/Sales 1.2x
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