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Published: Wed, December 21, 2016
Economy | By Melissa Porter

Yogurt problems sour sales outlook for General Mills

Yogurt problems sour sales outlook for General Mills

Analyst Cove rage Update on General Mills, Inc.

Yogurt will weigh on sales for many more quarters, Edward Jones analyst Brittany Weissman wrote, noting that the company was in early stages of updating its products and introducing new ones such as organic and drinkable yogurts. APG Asset Management N.V. now owns 5,743,695 shares of the company's stock worth $409,640,000 after buying an additional 180,900 shares during the last quarter. BlackRock Fund Advisors owned about 2.48% of General Mills worth $936,191,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company.

TRADEMARK VIOLATION NOTICE: "General Mills Inc". The stock has climbed 10 percent in the last 12 months. TIAA CREF Investment Management LLC increased its stake in General Mills by 7.4% in the second quarter. The company reported the earnings of $0.78/Share in the last quarter where the estimated EPS by analysts was $0.75/share. Inc. now owns 46,451 shares of the company's stock worth $3,313,000 after buying an additional 1,800 shares during the last quarter.

To better compete, General Mills this summer promised a quick pivot.

General Mills-which sells yogurts under the Yoplait, GoGurt, Annie's and Liberté names-has underperformed the industry in yogurt because it wasn't quick to respond to changing consumption behaviors. The Company Touched its 52-Week High on Jul 6, 2016 and 52-Week Low on Jan 21, 2016. P stock has a market capitalization of $2.98 Billion.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 21st. American Century Companies Inc. increased its stake in General Mills by 34.5% in the second quarter. During the same quarter in the previous year, the company posted $0.82 EPS.

The mean revenue estimate for the ongoing quarter ending Nov 16 is $3.9B by 15 analysts. Equities analysts forecast that General Mills Inc. will post $3.09 EPS for the current fiscal year. Investors of record on Tuesday, January 10th will be issued a $0.48 dividend. That's far worse than the 3% drop for cereal, 7% decline for baking products, and 1% increase for snacks. The ex-dividend date is Friday, January 6th. General Mills's dividend payout ratio is 69.82%.

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GIS has been the subject of several recent research reports.

Excluding certain items, the company earned 85 cents per share, missing analysts' average estimate by a cent. S&P Equity Research reaffirmed a "buy" rating and set a $70.00 price objective on shares of General Mills in a research note on Tuesday, September 27th. Barclays PLC reiterated an "equal weight" rating and issued a $66.00 target price on shares of General Mills in a research note on Friday, September 23rd. Credit Suisse Group AG reiterated a "hold" rating and issued a $68.00 target price on shares of General Mills in a research note on Thursday, September 22nd. The firm owned 106,865 shares of the company's stock after selling 38,613 shares during the period. The mean price target is calculated keeping in view the consensus of 16 brokerage firms. The Company has 50% interests in two joint ventures that manufacture and market food products.

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