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GIS

General Mills NYSE:GIS Stock Report

Last Price

US$78.79

Market Cap

US$46.8b

7D

-1.2%

1Y

29.7%

Updated

28 Sep, 2022

Data

Company Financials +

General Mills Competitors

Price History & Performance

Summary of all time highs, changes and price drops for General Mills
Historical stock prices
Current Share PriceUS$78.79
52 Week HighUS$81.24
52 Week LowUS$59.14
Beta0.32
1 Month Change2.03%
3 Month Change4.43%
1 Year Change29.65%
3 Year Change48.91%
5 Year Change51.49%
Change since IPO763.45%

Recent News & Updates

Sep 28
General Mills Might Provide Calmer Waters for Those Seeking Refuge

General Mills Might Provide Calmer Waters for Those Seeking Refuge

When debt becomes expensive, growth stories leave the headlines, and market woes take their place. In that environment, money looks for a safe harbor provided – amongst the others – in the Consumer Staples sector. Thus, it is not surprising that General Mills, Inc. (NYSE: GIS) has been doing better than expected, providing a stable dividend at a very reasonable valuation compared to its peers.

Sep 27

General Mills declares $0.54 dividend

General Mills (NYSE:GIS) declares $0.54/share quarterly dividend, in line with previous. Forward yield 2.75% Payable Nov. 1; for shareholders of record Oct. 10; ex-div Oct. 7. See GIS Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

GISUS FoodUS Market
7D-1.2%-1.9%-2.0%
1Y29.7%0.3%-20.3%

Return vs Industry: GIS exceeded the US Food industry which returned 0.1% over the past year.

Return vs Market: GIS exceeded the US Market which returned -22.1% over the past year.

Price Volatility

Is GIS's price volatile compared to industry and market?
GIS volatility
GIS Average Weekly Movement2.6%
Food Industry Average Movement5.5%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: GIS is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: GIS's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
186632,500Jeff Harmeninghttps://www.generalmills.com

General Mills, Inc. manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

General Mills Fundamentals Summary

How do General Mills's earnings and revenue compare to its market cap?
GIS fundamental statistics
Market CapUS$46.76b
Earnings (TTM)US$2.90b
Revenue (TTM)US$19.17b

16.1x

P/E Ratio

2.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GIS income statement (TTM)
RevenueUS$19.17b
Cost of RevenueUS$12.91b
Gross ProfitUS$6.26b
Other ExpensesUS$3.36b
EarningsUS$2.90b

Last Reported Earnings

Aug 28, 2022

Next Earnings Date

n/a

Earnings per share (EPS)4.89
Gross Margin32.63%
Net Profit Margin15.13%
Debt/Equity Ratio106.8%

How did GIS perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

43%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is GIS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GIS?

Other financial metrics that can be useful for relative valuation.

GIS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3x
Enterprise Value/EBITDA15.4x
PEG Ratio4x

Price to Earnings Ratio vs Peers

How does GIS's PE Ratio compare to its peers?

GIS PE Ratio vs Peers
The above table shows the PE ratio for GIS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average23.2x
HSY Hershey
28.5x4.4%US$46.4b
KHC Kraft Heinz
27.2x11.3%US$41.2b
MDLZ Mondelez International
20.6x7.5%US$79.7b
K Kellogg
16.6x4.9%US$24.7b
GIS General Mills
16.1x4.0%US$46.8b

Price-To-Earnings vs Peers: GIS is good value based on its Price-To-Earnings Ratio (16.1x) compared to the peer average (23.2x).


Price to Earnings Ratio vs Industry

How does GIS's PE Ratio compare vs other companies in the US Food Industry?

Price-To-Earnings vs Industry: GIS is good value based on its Price-To-Earnings Ratio (16.1x) compared to the US Food industry average (18.2x)


Price to Earnings Ratio vs Fair Ratio

What is GIS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GIS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.1x
Fair PE Ratio24.6x

Price-To-Earnings vs Fair Ratio: GIS is good value based on its Price-To-Earnings Ratio (16.1x) compared to the estimated Fair Price-To-Earnings Ratio (24.6x).


Share Price vs Fair Value

What is the Fair Price of GIS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GIS ($78.79) is trading below our estimate of fair value ($150.05)

Significantly Below Fair Value: GIS is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is lower than the current share price.


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Future Growth

How is General Mills forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


4.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GIS's forecast earnings growth (4% per year) is above the savings rate (1.9%).

Earnings vs Market: GIS's earnings (4% per year) are forecast to grow slower than the US market (14.8% per year).

High Growth Earnings: GIS's earnings are forecast to grow, but not significantly.

Revenue vs Market: GIS's revenue (1.7% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: GIS's revenue (1.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GIS's Return on Equity is forecast to be high in 3 years time (22.5%)


Discover growth companies

Past Performance

How has General Mills performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


8.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GIS has a large one-off gain of $619.9M impacting its August 28 2022 financial results.

Growing Profit Margin: GIS's current net profit margins (15.1%) are higher than last year (12.7%).


Past Earnings Growth Analysis

Earnings Trend: GIS's earnings have grown by 8.1% per year over the past 5 years.

Accelerating Growth: GIS's earnings growth over the past year (24.6%) exceeds its 5-year average (8.1% per year).

Earnings vs Industry: GIS earnings growth over the past year (24.6%) exceeded the Food industry 0.3%.


Return on Equity

High ROE: Whilst GIS's Return on Equity (26.97%) is high, this metric is skewed due to their high level of debt.


Discover strong past performing companies

Financial Health

How is General Mills's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: GIS's short term assets ($5.1B) do not cover its short term liabilities ($8.6B).

Long Term Liabilities: GIS's short term assets ($5.1B) do not cover its long term liabilities ($11.7B).


Debt to Equity History and Analysis

Debt Level: GIS's net debt to equity ratio (101.3%) is considered high.

Reducing Debt: GIS's debt to equity ratio has reduced from 191.9% to 106.8% over the past 5 years.

Debt Coverage: GIS's debt is well covered by operating cash flow (28.8%).

Interest Coverage: GIS's interest payments on its debt are well covered by EBIT (8.6x coverage).


Balance Sheet


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Dividend

What is General Mills's current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.74%

Current Dividend Yield

Dividend Yield vs Market

General Mills Dividend Yield vs Market
How does General Mills dividend yield compare to the market?
SegmentDividend Yield
Company (General Mills)2.7%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Food)2.7%
Analyst forecast in 3 Years (General Mills)2.9%

Notable Dividend: GIS's dividend (2.74%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: GIS's dividend (2.74%) is low compared to the top 25% of dividend payers in the US market (4.69%).


Stability and Growth of Payments

Stable Dividend: GIS's dividends per share have been stable in the past 10 years.

Growing Dividend: GIS's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (43.2%), GIS's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (46.1%), GIS's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.2yrs

Average management tenure


CEO

Jeff Harmening (55 yo)

5.25yrs

Tenure

US$12,266,195

Compensation

Mr. Jeffrey L. Harmening, also known as Jeff, has been the Chief Executive Officer at General Mills, Inc. since June 1, 2017. Mr. Harmening served as the President of General Mills, Inc. since July 1, 2016...


CEO Compensation Analysis

Jeff Harmening's Compensation vs General Mills Earnings
How has Jeff Harmening's remuneration changed compared to General Mills's earnings?
DateTotal Comp.SalaryCompany Earnings
Aug 28 2022n/an/a

US$3b

May 29 2022US$12mUS$1m

US$3b

Feb 27 2022n/an/a

US$2b

Nov 28 2021n/an/a

US$2b

Aug 29 2021n/an/a

US$2b

May 30 2021n/an/a

US$2b

Feb 28 2021n/an/a

US$3b

Nov 29 2020n/an/a

US$2b

Aug 30 2020n/an/a

US$2b

May 31 2020US$16mUS$1m

US$2b

Feb 23 2020n/an/a

US$2b

Nov 24 2019n/an/a

US$2b

Aug 25 2019n/an/a

US$2b

May 26 2019US$10mUS$1m

US$2b

Feb 24 2019n/an/a

US$2b

Nov 25 2018n/an/a

US$2b

Aug 26 2018n/an/a

US$2b

May 27 2018US$8mUS$1m

US$2b

Feb 25 2018n/an/a

US$2b

Nov 26 2017n/an/a

US$2b

Aug 27 2017n/an/a

US$2b

May 28 2017US$5mUS$775k

US$2b

Feb 26 2017n/an/a

US$2b

Nov 27 2016n/an/a

US$2b

Aug 28 2016n/an/a

US$2b

May 29 2016US$4mUS$650k

US$2b

Compensation vs Market: Jeff's total compensation ($USD12.27M) is about average for companies of similar size in the US market ($USD13.05M).

Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: GIS's management team is seasoned and experienced (5.2 years average tenure).


Board Members

Experienced Board: GIS's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: GIS insiders have only sold shares in the past 3 months.


Recent Insider Transactions

NYSE:GIS Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
22 Sep 22SellUS$1,253,453Shawn O'GradyIndividual15,558US$80.58
04 Aug 22SellUS$1,180,296Jodi BensonIndividual15,685US$75.25
06 Jul 22SellUS$413,168Dana McNabbIndividual5,425US$76.16
10 Jan 22SellUS$621,092Bethany QuamIndividual9,000US$69.01
07 Jan 22SellUS$933,067Dana McNabbIndividual13,553US$68.89
28 Dec 21SellUS$332,962Jodi BensonIndividual5,000US$66.59
20 Oct 21SellUS$307,148Sean WalkerIndividual4,894US$62.76
06 Oct 21SellUS$597,601Jonathon NudiIndividual9,725US$61.45

Ownership Breakdown

What is the ownership structure of GIS?
Owner TypeNumber of SharesOwnership Percentage
State or Government303,0480.05%
Individual Insiders1,348,3820.2%
General Public134,196,61922.6%
Institutions457,687,60177.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 52.64% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
12.82%
Capital Research and Management Company
76,106,454$6.0b-1.66%0.42%
8.67%
BlackRock, Inc.
51,457,105$4.1b6.07%0.1%
8.64%
The Vanguard Group, Inc.
51,264,676$4.0b0.8%0.09%
5.91%
State Street Global Advisors, Inc.
35,101,105$2.8b-0.31%0.16%
1.82%
Geode Capital Management, LLC
10,789,229$850.1m7.74%0.11%
1.8%
Charles Schwab Investment Management, Inc.
10,693,340$842.5m-1.46%0.23%
1.29%
Northern Trust Global Investments
7,662,897$603.8m1.68%0.12%
1.1%
UBS Asset Management
6,534,908$514.9m0.98%0.1%
0.87%
Legal & General Investment Management Limited
5,149,430$405.7m1.11%0.12%
0.85%
Dimensional Fund Advisors LP
5,022,133$395.7m-2.63%0.1%
0.83%
BNY Mellon Asset Management
4,899,810$386.1m6.25%0.09%
0.77%
Renaissance Technologies LLC
4,575,588$360.5m3.25%0.45%
0.75%
California Public Employees' Retirement System
4,455,551$351.1m-1.75%0.33%
0.73%
Invesco Capital Management LLC
4,316,852$340.1m10.61%0.27%
0.7%
Norges Bank Investment Management
4,127,269$325.2m0%0.04%
0.68%
Morgan Stanley, Investment Banking and Brokerage Investments
4,056,728$319.6m-5.76%0.06%
0.61%
Bank of America Corporation, Asset Management Arm
3,623,326$285.5m7.95%0.11%
0.58%
Eaton Vance Management
3,470,596$273.4m3.65%0.1%
0.58%
Nordea Investment Management AB
3,422,846$269.7m1.73%0.24%
0.5%
Goldman Sachs Asset Management, L.P.
2,960,945$233.3m2.54%0.1%
0.46%
Amundi Asset Management
2,722,309$214.5m-8.19%0.07%
0.44%
Swiss National Bank, Asset Management Arm
2,616,727$206.2m-0.26%0.14%
0.43%
Deutsche Asset & Wealth Management
2,577,178$203.1m-2.16%0.09%
0.41%
Massachusetts Financial Services Company
2,449,592$193.0m-0.24%0.05%
0.4%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
2,392,525$188.5m3.05%0.06%

Company Information

General Mills, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: General Mills, Inc.
  • Ticker: GIS
  • Exchange: NYSE
  • Founded: 1866
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: US$46.765b
  • Shares outstanding: 593.54m
  • Website: https://www.generalmills.com

Number of Employees


Location

  • General Mills, Inc.
  • Number One General Mills Boulevard
  • Minneapolis
  • Minnesota
  • 55426
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GISNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1968
GRMDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1968
GRMXTRA (XETRA Trading Platform)YesCommon StockDEEURJan 1968
GISSWX (SIX Swiss Exchange)YesCommon StockCHCHFJan 1968
0R1XLSE (London Stock Exchange)YesCommon StockGBUSDJan 1968
GISWBAG (Wiener Boerse AG)YesCommon StockATEURJan 1968
GIS *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJan 1968
G1MI34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH REPR 1 SHS UNSPONBRBRLJan 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/08/28
Annual Earnings2022/05/29


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.