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GIS

General Mills

$60.26

-0.4 (-0.66%)

07:02
03/21/17
03/21
07:02
03/21/17
07:02

General Mills says Q3 revenue decline attributed to gaps in pricing, promotions

"Our third-quarter results finished in line with our expectations and keep us on track to deliver the guidance we updated last month," said General Mills chairman and CEO Ken Powell. "Our net sales declined due primarily to gaps in pricing and promotional activity in key U.S. businesses. Our cost savings efforts helped us expand our adjusted operating profit margin and drive growth in adjusted diluted EPS. Looking ahead, we are highly focused on improving our topline performance while continuing to expand our margins. We've added support in the fourth quarter to strengthen key business lines, and we're pursuing global growth priorities that will further improve our sales trends beyond fiscal 2017."

  • 21

    Mar

GIS General Mills
$60.26

-0.4 (-0.66%)

02/15/17
DBAB
02/15/17
INITIATION
Target $61
DBAB
Hold
General Mills initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Rob Dickerson started General Mills with a Hold rating and $61 price target.
02/15/17
02/15/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kraft Heinz (KHC) and ConAgra Brands (CAG) were initiated with Buy ratings at Deutsche Bank. The firm also initiated Campbell Soup (CPB), J.M. Smucker (SJM) General Mills (GIS), Hershey (HSY), Kellogg (K) and Mondelez (MDLZ) with a Hold, as well as Pinnacle Foods (PF), Hostess Brands (TWNK) and Snyder's Lance (LNCE) with a Buy. 2. MasterCard (MA) and Visa (V) initiated with Buy ratings at Loop Capital by analyst Joseph Vafi. 3. Bioverativ (BIVV) initiated with an Outperform rating and $56 price target at Leerink by analyst Jason Gerberry. 4. Encana (ECA) initiated with an Overweight at JPMorgan. The firm also reinstated Cheniere Energy (LNG) and Cheniere Energy Partners LP (CQH) with Overweight ratings. 5. Blueprint Medicines (BPMC) initiated with an Overweight at Morgan Stanley by analyst Andrew Berens. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here
03/03/17
SBSH
03/03/17
NO CHANGE
SBSH
Kraft may look at General Mills, Kellogg, says Citi
In the wake of Kraft Heinz's (KHC) bid for Unilever (UN), Citi analyst Adam Spielman weighed in on the implications for consumer staples globally and said he thinks further M&A is likely, most probably in the U.S. He believes Kraft may still look at Unilever's food assets, or could target General Mills (GIS) or Kellogg (K). He also sees Mondelez (MDLZ) as a possible, but less likely, target for Kraft. Unilever could react by entering new categories, but Spielman sees it as more likely to reinforce existing strengths, "which points to" Colgate (CL) or Edgewell (EPC), he tells investors.
03/21/17
BERN
03/21/17
DOWNGRADE
BERN
Underperform
General Mills downgraded to Underperform from Market Perform at Bernstein

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