62.98 0.00 (0.00%)
After hours: 5:02PM EDT
|Bid||62.51 x 800|
|Ask||62.83 x 800|
|Day's range||62.08 - 63.30|
|52-week range||46.59 - 64.31|
|Beta (5Y monthly)||0.58|
|PE ratio (TTM)||17.69|
|Earnings date||16 Sep 2020 - 21 Sep 2020|
|Forward dividend & yield||1.96 (3.15%)|
|Ex-dividend date||09 Jul 2020|
|1y target est||63.55|
Is (GIS) Outperforming Other Consumer Staples Stocks This Year?
First up is General Mills (NYSE: GIS). While some industries' revenues evaporated, General Mills accelerated its growth. For fiscal 2020, the General Mills pet food segment grew 18%, tripling the overall company's pace, and there is reason to believe that can continue.
GIS earnings call for the period ending May 31, 2020.
(Bloomberg Opinion) -- You probably need only look inside your own pantry to have some idea of what a blockbuster spring it has been for the packaged food industry. General Mills Inc. reported Wednesday that organic sales, a measure that excludes currency fluctuations and other factors, shot up 16% in the quarter from a year earlier as people loaded up on Gold Medal flour, Cheerios, and Pillsbury rolls to ride out the pandemic. A day earlier, Conagra Brands Inc., corporate parent of labels such as Duncan Hines and Marie Callender’s, reported similarly robust growth, with quarterly organic sales rising 22% percent from a year earlier.My colleague Tara Lachapelle has written that this sector shouldn’t get too comfortable with these kinds of results, and she’s right. The panic-buying at the beginning of the U.S. Covid-19 outbreak was a one-off spasm of spending that won’t be repeated, and the long-term shift toward healthy eating and fresh ingredients isn’t going away. But the pandemic is bound to change our eating habits in some ways that stick. Many Americans will be keeping their new routines for months to come if their workplaces don’t reopen and kids don’t return to in-person schooling. That provides ample opportunity to reinforce habits that could outlast stay-at-home guidelines. The latest earnings results from Conagra and General Mills offer some clues as to where the industry may be able to build durable sales growth. General Mills saw an especially strong sales increase, 75% percent from a year earlier, in its U.S. meals and baking category. I’m not optimistic it can hang on to much of the growth in its Progresso Soup business, given that canned soup has generally proved an extremely tough sell to younger shoppers. But the company has products in this portfolio that aren’t necessarily out-of-sync with pre-pandemic eating values and make even more sense for families now that more meals are happening at home. For example, a shelf-stable Old El Paso taco dinner kit helps make a quick dinner that includes fresh beef and produce. With some marketing around that message, there’s no reason this product couldn’t become a go-to in many more homes. General Mills also reported that sales of Gold Medal flour, Pillsbury refrigerated baking items and Betty Crocker desserts were especially robust in the quarter – no surprise given the surge of interest in baking. There’s a chance General Mills could keep some of these newbie bakers engaged by pummeling them with recipe ideas on Pinterest and reminding them in commercials that baking is a way to spend time with their kids that doesn’t involve staring at a screen. Conagra, meanwhile, said Tuesday that retail sales of frozen vegetables, which includes its Birds Eye brand, surged 26.5% from a year earlier in the quarter. The company said the demand for such products outpaced supply in the quarter, which led it to seek out external manufacturing partners to ramp up production. This is a smart area of investment. Frozen veggies very much fit with a healthy eating ethos, so Conagra should be able to retain a piece of the recent sales growth it notched from new and lapsed customers.Packaged-food companies still face deep challenges in returning to relevance, but they should not resign themselves to thinking the pandemic is simply a temporary boon to their business. It is a time when longstanding eating habits are breaking and new ones are forming. They have only themselves to blame if they don’t leverage this moment to claim more permanent space in America’s cupboards and refrigerators.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
General Mills' (GIS) fourth-quarter fiscal 2020 results reflect the impact of higher sales, thanks to coronavirus-led higher at-home consumption.
General Mills (GIS) delivered earnings and revenue surprises of 3.77% and 0.91%, respectively, for the quarter ended May 2020. Do the numbers hold clues to what lies ahead for the stock?
General Mills (NYSE: GIS) today reported results for the fourth quarter and fiscal year ended May 31, 2020. Fiscal 2020 was a 53-week year, with the extra week falling in the fourth quarter.
The General Mills Board of Directors has declared a quarterly dividend at the prevailing rate of $0.49 per share, payable August 3, 2020, to shareholders of record as of July 10, 2020. General Mills (NYSE: GIS) and its predecessor company have paid dividends without interruption for 121 years.
Tech stocks helped prop markets up again, as Dr. Anthony Fauci told Congress that new coronavirus infections could increase to 100,000 a day from 40,000 daily cases now. Fauci, the top infectious disease expert at the National Institutes of Health, said infections have risen because some places are reopening too quickly and people are not following guidelines. In testimony before the House Financial Services Committee earlier Tuesday, Federal Reserve Chairman Jerome Powell said a second wave of the coronavirus outbreak could "force government and force people to withdraw again from economic activity” and "undermine public confidence, which is what we need to get back to lots of economic activity."
General Mills awarded Asia’s Best Workplaces 2020 by Great Place to Work.
Impact of higher demand owing to panic buying trend amid the coronavirus outbreak is likely to get reflected in General Mills' (GIS) fourth-quarter fiscal 2020 performance.
Cooking from home may be here to stay even after the worst of the COVID-19 pandemic. McCormick CEO Lawrence Kurzius chats with Yahoo Finance.
It will be a shortened trading week with major markets closed Friday in observance of the Fourth of July holiday. Investors will be closely monitoring the recent resurgence in COVID-19 cases across a handful of states and the big June jobs report due out Thursday.
General Mills (GIS) and Conagra (CAG) both stand to benefit greatly from the coronavirus stay-at-home push that saw millions of people stock up on essentials...
General Mills, Inc. (NYSE: GIS) previously announced its plans to report results for its fiscal 2020 fourth quarter and full year on Wednesday, July 1, 2020.
General Mills (GIS) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
General Mills Launches Three-Year Regenerative Dairy Pilot in Michigan in Partnership with Foremost Farms and Understanding Ag.
The traditional approaches to retirement planning are longer covering all expenses in nest egg years. So what can retirees do? Thankfully, there are alternative investments that provide steady, higher-rate income streams to replace dwindling bond yields.
Kroger (KR) is expanding grocery offerings and building omni-channel platform. It expects first-quarter identical sales without fuel and earnings per share to fare better than the annual growth rate.