Últimas noticias sobre General Mills (NYSE:GIS) Bolsa

General Mills

General Mills is a global packaged food company that produces snacks, cereal, convenient meals, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Pillsbury, Betty Crocker, Blue Buffalo, and Haagen-Dazs. In fiscal 2024, 81% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. Although most of General Mills' products are sold through retail stores to consumers, the company also sells products to the foodservice channel and the commercial baking industry.

General Mills Inc

General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) will release earnings results for its second quarter, before the <a href="https://www.benzinga.com/quote/GIS/earnings">opening bell on Wednesday, Dec. 18.</a>
Analysts expect the Minneapolis, Minnesota-based company to report quarterly earnings at $1.22 cents per share, down from $1.25 per share in the year-ago period. General Mills projects to report revenue of $5.14 billion for the recent quarter, compared to $5.14 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
General Mills shares gained 0.9% to close at $66.69 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/GIS/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>B of A Securities analyst Bryan Spillane upgraded the stock from Neutral to Buy and raised the price target from $78 to $80 on Dec. 13. This analyst has an accuracy rate of 63%.</li>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and cut the price target from $77 to $70 on Nov. 15. This analyst has an accuracy rate of 61%.</li>
<li>JP Morgan analyst Ken Goldman maintained a Neutral rating and increased the price target from $63 to $67 on Oct. 14. This analyst has an accuracy rate of 76%.</li>
<li>TD Cowen analyst Robert Moskow maintained a Hold rating and raised the price target from $72 to $75 on Sept. 20. This analyst has an accuracy rate of 65%.</li>
<li>Piper Sandler analyst Michael Lavery maintained an Overweight rating and boosted the price target from $74 to $84 on Sept. 19. This analyst has an accuracy rate of 67%.</li>
</ul>
Considering buying GIS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="573" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16050947/image-121-1024x573.png" alt="" class="wp-image-693448" style="width:627px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16050947/image-121-1024x573.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16050947/image-121-300x168.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16050947/image-121-768x430.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16050947/image-121.png 1135w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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General Mills Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

BofA Securities analyst Peter T. Galbo upgraded General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) to Buy from Neutral, <a target="_blank" href="https://www.benzinga.com/quote/GIS/analyst-ratings" rel="noreferrer noopener">raising the price forecast to $80 from $78.</a>
The analyst suggests that General Mills is expected to return to organic sales growth at a faster and more sustainable rate compared to other center-store food peers.
This growth will be driven by factors such as the re-acceleration in the Pet segment (specifically Blue Buffalo) and stabilization in North America Retail, as issues in the dough category are moving behind the company, Galbo writes.
The analyst also highlights that General Mills offers investors exposure to the recovery in the U.S. Pet market and a surge in value stocks, with its fundamentals appearing more attractive when compared to other food industry peers.
The analyst expresses increasing optimism about the turnaround of Blue Buffalo following a challenging FY24, which saw a -4% organic growth.
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Galbo highlights that initiatives in the dog food segment are fostering greater confidence, with the Life Protection Formula experiencing high-single-digit percentage growth and the Wilderness line showing signs of stabilization, partly due to more grain-free options and smaller pack sizes. While the pet treats category remains a challenge, the second half of the year offers easier comparisons, which could lead to a more pronounced recovery.
Since FY19, the pet segment has experienced a faster growth rate (averaging +8.7%) compared to the overall General Mills portfolio (averaging +4.7%), contributing to valuation gains; if pet growth continues to lead the overall portfolio, the analyst believes valuation should rise accordingly.
Price Action: GIS shares are trading higher by 1% to $66.74 at last check Friday.
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General Mills To Gain Strength From Rebound In Pet Segment And Stabilizing Retail Growth, Analyst Upgrades Stock

B of A Securities analyst Bryan Spillane upgrades General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) from Neutral to Buy and raises the price target from $78 to $80.

B of A Securities Upgrades General Mills to Buy, Raises Price Target to $80

Canada is considering export taxes on goods, including uranium, oil and potash, if President-elect Donald Trump imposes the broad<a href="https://www.benzinga.com/news/global/24/12/42451262/canadian-oil-sector-hedges-trump-tariff-risk-us-midwest-refineries-could-be-affected"> tariffs he pledged. </a>
The Details: According to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-12/canada-weighs-export-taxes-on-uranium-oil-if-trump-starts-trade-war?srnd=homepage-americas">report</a>, retaliatory tariffs on U.S.-made goods and export controls on certain Canadian products are most likely, with export levies also on the table as a last resort. The Bloomberg report cited officials familiar with discussions inside Prime Minister Justin Trudeau's government.&nbsp;
The sources also said Trudeau's government may consider expanding its powers over export controls as part of a scheduled update on the country's fiscal and economic conditions.&nbsp;
Why It Matters: U.S. oil refineries, especially in the Midwest, rely heavily on Canadian crude oil imports. Export levies would increase the cost of imported Canadian oil and potentially squeeze refinery margins. Some of the largest oil refiners in the U.S. are Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) and Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>). 
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Canadian export taxes on uranium could be devastating to U.S. nuclear energy producers with Canada supplying about a quarter of the uranium U.S. producers use for their nuclear reactors.&nbsp;
Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), the largest owner of non-rate-regulated nuclear plants in the U.S., and Duke Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), which operates 11 nuclear units in North and South Carolina, could face supply disruptions as domestic uranium production is virtually nonexistent. The companies could pass along the increased costs to consumers in areas served by nuclear power plants.
American farmers rely heavily on imports of Canadian potash as a source of fertilizer. If Canada imposes export levies on potash,&nbsp;several American farm-related stocks could be affected due to the reliance of U.S. agriculture on the fertilizer.
Companies tied to crops heavily dependent on potash, such as soybeans, corn, sugar beets and potatoes could see increased costs. These companies include Archer-Daniels-Midland Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) and Bunge Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BG#NYSE">BG</a>). Food producers, like General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) and Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) may face higher input costs for agricultural products reliant on potash fertilizers and could pass those costs along to consumers.
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If Trump Starts A Trade War, Canada Could Impose Export Taxes On Oil, Uranium: Report

Robert F. Kennedy Jr. is a vocal opponent of artificial food dyes, blaming them in part for the &#8220;chronic disease epidemic" in America. He may get the opportunity to bring major changes to the U.S. food industry under the<a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction"> incoming Trump administration.</a>&nbsp;
What To Know: President-elect Donald Trump has named Kennedy as his pick to lead the department of Health and Human Services (HHS). If confirmed by the Senate, Kennedy would oversee the Food and Drug Administration, among other federal health agencies, and may be able to effect policy changes that align with his views, which have run counter to programs widely viewed by the public health community as successes, such as water fluoridation and vaccines. 
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Kennedy has criticized the use of artificial dyes in popular cereals, snacks and beverages and noted that some dyes, like Red Dye No. 3, are banned in Europe and California due to potential health risks. Kennedy argues the U.S. food system allows many additives that are restricted in other countries to the detriment of the public's health. 
"We are betraying our children by letting these industries poison them," Kennedy said at a Trump campaign rally Nov. 2.
The potential HHS secretary has often targeted breakfast cereals in particular due to their popularity with children. 
"They get brighter colors in Froot Loops, but it's literally poisoning our kids," Kennedy told Fox News in September.&nbsp;
Froot Loops maker Kellogg said in 2015 that it was working to remove artificial colors and flavors from its branded cereals by the end of 2018, <a href="https://www.wsj.com/business/how-froot-loops-landed-at-the-center-of-u-s-food-politics-a5074e63">according</a> to the Wall Street Journal.  WK Kellogg Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) still sells cereal that contains the ingredients.
"The first thing I'd do isn't going to cost you anything because I'm just gonna tell the cereal companies: Take all the dyes out of their food," Kennedy said in October.
Kennedy's potential new role as the country's top health official has caught the attention of other food industry giants like General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>). The mega-manufacturer of processed foods released a statement after Trump announced Kennedy as his choice for the position. 
"Because this is always an evolving space, we work in close partnership with policymakers on this issue," General Mills said in the statement. "We will engage with federal regulators as they consider any additional changes they may propose."
Why It Matters: Trump has said <a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">he is ready</a> to let Kennedy "go wild on health" and he could &#8220;do pretty much what he wants&#8221; in his administration. In his announcement of his intent to nominate Kennedy as secretary of HHS, Trump said he expects him to "end the chronic disease epidemic , and to Make America Great and Healthy Again!"
"Americans have been crushed by the industrial food complex and drug companies who have engaged in deception, misinformation and disinformation when it comes to public health," Trump's announcement stated.&nbsp;
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Image: Shutterstock.

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Kennedy's War On Food Dyes Could Be Coming To Your Breakfast Table

<a href="https://www.bloomberg.com/news/articles/2024-11-20/general-mills-plans-to-talk-on-food-dyes-as-pressure-from-rfk-jr-looms">https://www.bloomberg.com/news/articles/2024-11-20/general-mills-plans-to-talk-on-food-dyes-as-pressure-from-rfk-jr-looms</a>
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'General Mills To Engage Regulators On Food Dyes Targeted By RFK Jr.' - Bloomberg News

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Shares of beverage and packaged food stocks are trading lower after president-elect Trump indicated he would nominate Robert F. Kennedy Jr. to lead the HHS.

Wells Fargo analyst Chris Carey maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Equal-Weight and lowers the price target from $77 to $70.

Wells Fargo Maintains Equal-Weight on General Mills, Lowers Price Target to $70

General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) disclosed a deal to acquire Whitebridge Pet Brands&#8217; North American premium cat feeding and pet treating business from NXMH for $1.45 billion.
The acquisition includes the Tiki Pets and Cloud Star brands, which are leaders in the $24 billion cat feeding and pet treating segments of the $52 billion U.S. pet food market.
The North American Whitebridge Pet Brands business generated approximately&nbsp;$325 million&nbsp;in U.S. Nielsen-measured retail sales in the past twelve months, predominantly in the pet specialty and E-commerce channels.&nbsp;
General Mills plans to fund the acquisition with cash on hand and new debt. This transaction aligns with General Mills&#8217; Accelerate strategy, aiming to enhance growth in core markets and global platforms.
Also, as part of the deal, General Mills will take over two manufacturing facilities in Joplin, Missouri. NXMH will retain Whitebridge Pet Brands&#8217; European operations and brands.
The transaction is expected to close in the third quarter of fiscal 2025, pending regulatory approval and other customary closing conditions.
Jon Nudi, group president, North America Pet, International, and North America Foodservice, General Mills said, &#8220;These brands complement our Blue Buffalo portfolio and will help us incrementally grow in Cat feeding and Treats. We&#8217;re excited to welcome the North American Whitebridge team to General Mills and to provide pet parents with an expanding portfolio of brands to feed and treat their pets like family.&#8221;
In September, the company signed definitive agreements to sell its North American yogurt business to Lactalis and Sodiaal, leading&nbsp;French dairy companies,<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40836990/general-mills-offloads-us-canadian-yogurt-divisions-in-2-1b-deal-amid-competition-and-market-cha" rel="noreferrer noopener"> for a total of $2.1 billion</a>.
As of August 25, the company had cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40915872/general-mills-reports-fiscal-2025-first-quarter-results" rel="noreferrer noopener">cash equivalents of $468.1 million</a>.
Investors can gain exposure to the stock via&nbsp;Invesco Food &amp; Beverage ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBJ#NYSE">PBJ</a>) and First Trust Nasdaq Food &amp; Beverage ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXG#NASDAQ">FTXG</a>).
Price Action: GIS shares are up 0.60% at $65.62 at the last check Thursday.
Photo by huoadg5888 via <a href="https://pixabay.com/photos/pets-cat-dog-animals-mammals-3715733/">Pixabay</a>
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General Mills Dives Deeper Into Pet Market With This $1.45 Billion Acquisition: Details

The business, which includes the Tiki Pets and Cloud Star portfolio of brands, is a growth leader in the Cat feeding and Pet treating segments, which collectively make up $24 billion in retail sales within the broader $52 billion U.S. pet food category.&nbsp;
General Mills intends to fund the acquisition with cash on hand and new debt. The transaction is anticipated to close in the third quarter of fiscal 2025, subject to regulatory approval and other customary closing conditions.
 &nbsp;

General Mills Agrees To Acquire Whitebridge Pet Brands' North American Premium Cat Feeding And Pet Treating Business From NXMH In Transaction Valued At $1.45B

JP Morgan analyst Ken Goldman maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Neutral and raises the price target from $63 to $67.

JP Morgan Maintains Neutral on General Mills, Raises Price Target to $67

<a href="https://www.cnbc.com/2024/10/07/sen-elizabeth-warren-and-rep-madeleine-dean-demand-food-and-beverage-ceos-put-a-stop-to-shrinkflation.html">https://www.cnbc.com/2024/10/07/sen-elizabeth-warren-and-rep-madeleine-dean-demand-food-and-beverage-ceos-put-a-stop-to-shrinkflation.html</a>
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Two Democratic lawmakers are demanding that some of the biggest food and beverage companies stop engaging in "shrinkflation" — the practice of reducing product sizes while charging prices that are the same or higher.
In pointed letters, Sen. Elizabeth Warren of Massachusetts and Rep. Madeleine Dean of Pennsylvania accused General Mills, Coca-Cola and PepsiCo of engaging in a "pattern of profiteering" through shrinkflation and by "dodging taxes." The letters, sent Sunday afternoon and shared first with NBC News, cite tactics the companies have used in recent years to increase their bottom lines.
&nbsp;
General Mills, for example, reduced the sizes of many cereal boxes in 2021, "including decreasing ‘Family Size' Cocoa Puffs from 19.3 ounces to 18.1 ounces while charging the same price," the letter to General Mills Chairman and CEO Jeff Harmening read. It added: "Then, from mid-2021 to mid-2022, General Mills hiked prices five times, and in 2023, your Group President of North American Retail bragged that the company was ‘getting smart about how we look at pricing.'"
Coca-Cola has downsized its products, too, said the letter to Chairman and CEO James Quincey, and it is "selling less soda for the same price." The same with PepsiCo, which "replaced its 32 oz Gatorade bottle with a 28 oz bottle for the same price."
"Shrinking the size of a product in order to gouge consumers on the price per ounce is not innovation, it is exploitation," the letter to PepsiCo head Ramon Laguarta read.
Spokespeople for General Mills, Coca-Cola and PepsiCo did not immediately respond to requests for comment. PepsiCo has denied changing bottle sizes for profit; a spokesperson&nbsp;<a href="https://www.nbcnews.com/business/consumer/walmart-chipotle-higher-prices-criticism-rcna160713">told CNBC in July</a>&nbsp;that the 28-fluid-ounce bottle of Gatorade has existed for over a decade and that selling it more widely was part of the company's long-term strategy, not a response to the current economic environment. Coca-Cola has explained its smaller bottles as a&nbsp;<a href="https://www.modernretail.co/operations/shrinkflation-is-boosting-coca-colas-bottom-line/">way to offer lower price points</a>&nbsp;to budget-conscious consumers.
Regardless, Warren and Dean also accused the companies of funding lobbying for&nbsp;<a href="https://www.americanprogress.org/article/the-tax-cuts-and-jobs-act-failed-to-deliver-promised-benefits/">Republican-led corporate tax breaks</a>&nbsp;in 2017 that promised a trickle-down effect but instead "incentivized price gouging" because "corporations raised prices to pad their profits, knowing that lower corporate tax cuts meant they would get more back on each dollar of price increase," all three letters said.
&nbsp;
Citing a February analysis from the nonprofit&nbsp;<a href="https://sfo2.digitaloceanspaces.com/itep/ITEP-Corporate-Tax-Avoidance-in-the-First-Five-Years-of-the-Trump-Tax-Law.pdf">Institute on Taxation and Economic Policy</a>, the letter to General Mills said that in the first five years following the 2017 tax cuts, General Mills paid an average effective tax rate of 14.8% on its $12 billion in profits — a lower tax rate than many working individuals pay. Coca-Cola paid 13.5% in federal income taxes on its $13.4 billion in profits for the same time frame, the letter to its CEO said, while PepsiCo made $22.4 billion in profits during those years and paid an average effective tax rate of 15%.
"People have noticed that their box of Cheerios and bag of Doritos are smaller, but prices are higher — and at the same time these giant corporations are paying lower tax rates than the average American," Warren said in a statement to NBC News. "We can't let them get away with this price gouging and tax dodging. It's just plain wrong, and we're fighting back."
Shrinking consumer goods extend beyond soda and cereal.&nbsp;<a href="https://www.mouseprint.org/">MousePrint.org</a>, a website that tracks retail products, has been highlighting items that have&nbsp;<a href="https://www.mouseprint.org/category/downsiz/">gone down in size but not in price</a>, including a pack of razors that once contained 36 razors and now is down to 30 and a bag of almonds that went from 30 ounces to 25.
President Joe Biden has mentioned shrinkflation numerous times, declaring it a "rip-off" in a&nbsp;<a href="https://x.com/POTUS/status/1756713597864988940?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1756713597864988940%7Ctwgr%5E2d8d6b2fdb9f6e2dac3d653d03c08b26020eb18f%7Ctwcon%5Es1_&amp;amp;ref_url=https%3A%2F%2Fwww.foxbusiness.com%2Fpolitics%2Fpresident-biden-slams-shrinkflation-in-super-bowl-sunday-video">video he posted to X</a>. In his State of the Union address this year, he urged Congress to pass a&nbsp;<a href="https://www.casey.senate.gov/news/releases/stop-shrinkflation-casey-introduces-legislation-to-crack-down-on-big-corporations-shrinking-products-without-reducing-prices">bill that would</a>&nbsp;crack down on shrinkflation by regulating it as unfair or deceptive.
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Even Cookie Monster has opined on downsized products,&nbsp;<a href="https://x.com/MeCookieMonster/status/1764692032914690276?lang=en">lamenting on X</a>&nbsp;in March: "Me hate shrinkflation! Me cookies are getting smaller."
But to manufacturers looking to grow profit, especially in times of inflation as the costs of packaging materials and ingredients rise, reducing product size is often seen as a better move than upping prices, said Nailya Ordabayeva, an associate professor of marketing at the Boston University Questrom School of Business.
"Final price increases draw much bigger backlash than volume decreases," she said. "So, between the two evils, the downsizing becomes a preferred option."
That having been said, when shoppers notice that they have paid the same amount for less, particularly if it's something they consume regularly compared with an indulgent item they buy only once in a while, "at that point they get upset," Ordabayeva said.
But consumer frustration has not stopped shrinkflation. A&nbsp;<a href="https://www.casey.senate.gov/imo/media/doc/shrinkflation_report.pdf">report in December</a>&nbsp;by Casey's office found that household products like toilet paper and paper towels were 34.9% more expensive per unit than in January 2019, with 10.3% of the price increase due to producers' shrinking the sizes of rolls and packages. Meanwhile, snacks such as Oreos and Doritos had become 26.4% more expensive since January 2019, with 9.8% of the increase "accomplished by giving families fewer chips and cookies for their dollar," the report said.
Sarah Gallo, senior vice president of federal affairs at Consumer Brands Association, a trade group that Coca-Cola, PepsiCo and General Mills all belong to, defended industry practices to NBC News.
She cited&nbsp;<a href="https://www.frbsf.org/research-and-insights/publications/economic-letter/2024/05/are-markups-driving-ups-and-downs-of-inflation/#toc_Potential-drivers-of-inflation--Production-costs-and-markups">an inflation report</a>&nbsp;the Federal Reserve Bank of San Francisco released in May that found that "aggregate markups over the past three years are not unusual compared with previous economic recoveries, countering the misleading attacks on the industry."
"The industry remains focused on providing the best products at the most competitive price to consumers," she said in a statement.
The letters from Warren and Dean requested three pieces of information: the average price the corporations charged per ounce of soda or per ounce of cereal every year since 2018, how much more in federal taxes they would have paid had the 2017&nbsp;<a href="https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver">Tax Cuts and Jobs Act</a>&nbsp;not been in effect and whether company executives received bonuses or other incentives during periods of high inflation.
Dean said the letters were sent to "ease the wrongful burden" the companies are imposing on consumers.
"Even as our economy recovers from the pandemic, people are still hurting from high prices at the grocery store,'" Dean said in a statement to NBC News. "Charging more for products, like cereal, while reducing their size means that Americans are paying more for less and big corporations are paying less than their fair share in taxes."

Macro Economic Events

Economics

"Sen. Elizabeth Warren And Rep. Madeleine Dean Demand Food And Beverage CEOs Put A Stop To 'Shrinkflation'" - CNBC

General Mills (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gis#NYSE">GIS</a>) can provide a hedge if volatility continues to plague the S&amp;P 500. The company is amid a business transformation telegraphed in its price action, which is set up for a significant reversal after more than a year of lackluster performance.&nbsp;
The transformation includes selling its yogurt business, which will lighten the portfolio and shore up the fortress balance sheet. This will allow management to focus on core markets, international growth, and local gems that drive margin while providing steady capital returns.&nbsp;
The bonus is the stock beta. General Mills has trades with a 5-year beat of 0.1 and a 2-year beta of -.2, suggesting little to no correlation to the&nbsp; S&amp;P 500; if the broad market falls, General Mills trends will be unaffected and may even get an added boost from a flight to safety.&nbsp;
<h2>General Mills Post Earnings Dip Is A Buying Opportunity That Won&#39;t Last Long</h2>
General Mills share prices fell following the FQ1 release, opening a buying opportunity that will likely last only a short time. The results and guidance were good, with Q1 performance being better than expected, and guidance was reaffirmed. The problem is that Q1 strength didn&#39;t carry through to the guidance, suggesting the remainder of the year could be tepid relative to expectations. However, the $4.85 billion in revenue is down only 1% compared to last year, outperforming by 100 basis points, and aligns with the outlook for turnaround, resumed organic growth, and capital returns, which counts over the long term.&nbsp;&nbsp;
The margin news is just as mixed, with margins contracting but less than expected, leaving earnings down compared to last year but better than forecast. The salient detail is that although net earnings are down 14%, the $580 million is sufficient to sustain the fortress balance sheet and the capital return. The $1.07 in adjusted earnings gives a 55% quarterly dividend payout ratio, which is sustainable and expected to improve as the year progresses. It also leaves room for share repurchases, which have been aggressive.&nbsp;
The guidance is good enough. The company forecasts sequential improvement in revenue and earnings and YOY organic growth to return by the end of the year, not including the sale of the yogurt business. That is expected to close in 2025 and will impact reported results for the following twelve months by approximately 3% on a diluted basis.&nbsp;
<h2>General Mills Capital Return Is Top-Tier and Expected to Accelerate</h2>
General Mills&#39; financial condition is rock solid and allows for substantial capital return,&nbsp;including dividends and share buybacks. The dividend is attractive at 3.25% and only 16x earnings, a high-yield value compared to the broad market and leading consumer staples peers like Hormel (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrl#NYSE">HRL</a>), Hershey (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsy#NYSE">HSY</a>), and Kellanova (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/k#NYSE">K</a>), which trade at 20x, 21x, and nearly 22x their earnings outlooks, respectively.&nbsp;
Balance sheet highlights from Q1 include reduced cash, increased debt, and reduced equity, but repurchases and treasury stock offset those factors. The company repurchased $300 million of shares during the quarter, reducing the average count by 4.65% year over year and increasing the treasury holdings by nearly 20%. Repurchases have slowed compared to last year due to the contraction of revenue and earnings, and they may not accelerate soon. However, buybacks are likely to continue at a float-reducing pace through the year&#39;s end, and the company plans to use proceeds from the yogurt sale to boost activity once closed.&nbsp;
<h2>General Mills Share Price Supported by an Expectation for Lower Interest Rates</h2>
General Mills&#39; share price has steadily risen since mid-July, when the CPI report sparked a massive broad-market sell-off after signaling a high probability that the FOMC would lower interest rates this year. The signal is that risk-off investment dollars, once focused on higher-yielding bonds, have turned to quality dividend growth stocks like General Mills, which still present value and yield for investors today.&nbsp;
The technical action since July suggests a double-bottom reversal pattern is now in play, and price action has retreated to a critical support target. The critical target is the 30-day EMA, which aligns with highs earlier this year. If support is confirmed at this level, investors can expect GIS stock to continue higher and complete the reversal by year&#39;s end. If not, GIS stock could fall to the $70 level or lower before hitting solid support.&nbsp;
<img alt="General Mills GIS stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240918104246_chart-gis-9182024.png" style="height:426px; width:917px" />
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/why-general-mills-is-the-perfect-hedge-for-s-and-p-500-volatility/">Why General Mills Is the Perfect Hedge for S&amp;P 500 Volatility</a>&quot; first appeared on MarketBeat.

Guidance

Dividends

Technicals

Buybacks

Why General Mills Is the Perfect Hedge for S&P 500 Volatility

TD Cowen analyst Robert Moskow maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Hold and raises the price target from $72 to $75.

TD Cowen Maintains Hold on General Mills, Raises Price Target to $75

Barclays analyst Andrew Lazar maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Equal-Weight and raises the price target from $67 to $74.

Barclays Maintains Equal-Weight on General Mills, Raises Price Target to $74

Citigroup analyst Thomas Palmer maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Neutral and lowers the price target from $76 to $75.

Citigroup Maintains Neutral on General Mills, Lowers Price Target to $75

Stifel analyst Matthew Smith maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Buy and raises the price target from $70 to $82.

Stifel Maintains Buy on General Mills, Raises Price Target to $82

RBC Capital analyst Nik Modi reiterates General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Sector Perform and maintains $70 price target.

Reiteration

RBC Capital Reiterates Sector Perform on General Mills, Maintains $70 Price Target

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Needham raised the price target for SS&amp;C Technologies Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSNC#NASDAQ">SSNC</a>) from $81 to $90. Needham analyst Mayank Tandon maintained a Buy rating. SS&amp;C Technologies shares fell 0.2% to close at $75.36 on Wednesday. <a href="https://www.benzinga.com/quote/ssnc/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley cut the price target for Elanco Animal Health Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) from $17 to $15. Morgan Stanley analyst Erin Wright downgraded the stock from Overweight to Equal-Weight. Elanco Animal Health shares gained 2.5% to close at $14.65 on Wednesday. <a href="https://www.benzinga.com/quote/elan/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Mizuho slashed Athira Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATHA#NASDAQ">ATHA</a>) price target from $5 to $0.5. Mizuho analyst Graig Suvannavejh downgraded the stock from Outperform to Neutral. Athira Pharma shares fell 4.7% to close at $0.4630 on Wednesday. <a href="https://www.benzinga.com/quote/atha/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Bernstein cut NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) price target from $112 to $109. Bernstein analyst Aneesha Sherman maintained an Outperform rating. NIKE shares gained 0.3% to close at $80.90 on Wednesday. S<a href="https://www.benzinga.com/quote/NKE/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Loop Capital boosted the price target for Aspen Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZPN#NASDAQ">AZPN</a>) from $204 to $260. Loop Capital analyst Mark Schappel maintained a Buy rating. Aspen Technology rose 1.1% to close at $236.00 on Wednesday. <a href="https://www.benzinga.com/quote/AZPN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho increased Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) price target from $22 to $25. Mizuho analyst Ben Chaiken maintained an Outperform rating. Carnival shares rose 1.8% to close at $18.36 on Wednesday. <a href="https://www.benzinga.com/quote/CCL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Pivotal Research raised Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) price target from $460 to $510. Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating. Spotify shares gained 0.5% to close at $343.97 on Wednesday. <a href="https://www.benzinga.com/quote/SPOT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler increased the price target for General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) from $74 to $84. Piper Sandler analyst Michael Lavery maintained an Overweight rating. General Mills shares rose 0.7% to close at $75.01 on Wednesday. <a href="https://www.benzinga.com/quote/GIS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler raised Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) price target from $23 to $27. Piper Sandler analyst Patrick Moley maintained an Overweight rating. Robinhood shares rose 1.4% to close at $22.95 on Wednesday. <a href="https://www.benzinga.com/quote/HOOD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Oppenheimer raised T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) price target from $200 to $215. Oppenheimer analyst Timothy Horan maintained an Outperform rating. T-Mobile shares fell 3% to close at $196.68 on Wednesday. <a href="https://www.benzinga.com/quote/TMUS/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying Robinhood stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="512" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153-1024x512.png" alt="" class="wp-image-556095" style="width:628px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153-1024x512.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153-768x384.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153.png 1335w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Pre-Market Outlook

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Robinhood To Rally Around 18%? Here Are 10 Top Analyst Forecasts For Thursday

Piper Sandler analyst Michael Lavery maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Overweight and raises the price target from $74 to $84.

Piper Sandler Maintains Overweight on General Mills, Raises Price Target to $84

Jefferies analyst Robert Dickerson reiterated a Hold rating on General Mills (GIS – Research Report) on December 11 and set a price target of $67.0...

Jefferies Reaffirms Their Hold Rating on General Mills (GIS)

General Mills gains after BofA says it is an attractive value play

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Wall Street Week Ahead

TD Cowen analyst Robert Moskow maintained a Hold rating on General Mills (GIS – Research Report) today. The company's shares closed last Friday at ...

TD Cowen Keeps Their Hold Rating on General Mills (GIS)

This week, several major companies will be reporting earnings. Among them are Micron (MU), Nike (NKE), Carnival (CCL), FedEx (FDX) and Fuelcell Ene...

Options Volatility and Implied Earnings Moves This Week, December 16 – December 20, 2024

In a report released today, David Palmer from Evercore ISI reiterated a Hold rating on General Mills (GIS – Research Report), with a price target o...

General Mills (GIS) Receives a Hold from Evercore ISI

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Totino's™ Pizza Rolls™ partners with Tim Robinson and Sam Richardson for a comedic take on the Value of 10 Pizza Rolls for About $1*

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Donna Kelce and the Pillsbury Doughboy Crown the 52nd Pillsbury Bake-Off™ Contest Winners with Festive Debut of Holiday Recipes

General Mills Quarterly Dividend Declared

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The Kelces and the Watts Star in "Game Day" by General Mills, a New Campaign Inspired by the Superstitions That Bind Fans All Season

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