General Mills Hits 52-Week High - Analyst Blog
21 Marzo 2013 - 11:20AM
Zacks
Shares of General Mills, Inc. (GIS) reached a
52-week high of $48.02 on Wednesday, Mar 20, 2013, after announcing
solid fiscal third-quarter results the same day. The closing price
of the food giant on Mar 20, 2013, was $47.61, representing a
robust 1-year return of about 27.4% and year-to-date return of
about 23.0%. Average volume of shares traded over the last 3 months
stands at approximately 4143K.
Solid Third Quarter Performance
On Mar 20, 2013, General Mills reported better-than-expected
fiscal third-quarter results, beating the Zacks Consensus Estimates
for both revenue and earnings. Third-quarter fiscal 2013 adjusted
earnings rose 16.4% year on year to 64 cents per share and also
beat the Zacks Consensus Estimate of 57 cents by 12.3%. The upside
was driven by the recent acquisitions, strong sales and profits in
the U.S. retail business and lower advertising costs.
Moreover, GIS delivered decent revenue growth, though margins
were sluggish in the quarter. Total revenue of the company
increased 8% year over year to $4.43 billion, which slivered past
the Zacks Consensus Estimate of $4.36 billion. Organic volume
growth was better than the second quarter while currency had a
neutral impact on sales.
In fact, General Mills has beaten earnings expectations in all
the three quarters of fiscal 2013 mainly on the back of
acquisitions and improving revenue trends in the U.S.
Moreover, despite the fourth-quarter earnings outlook being weak
as costs are apprehended to rise, General Mills confidently upped
its fiscal-2013 earnings expectations by a penny.
Other Stocks to Consider
General Mills currently carries a Zacks Rank #3 (Hold). Other
stocks in the food industry that are currently performing well and
have a bright outlook include J&J Snack Foods
Corp. (JJSF) – Zacks Rank #1 (Strong Buy) and
ConAgra Foods, Inc. (CAG) and Kellogg
Company (K), with a Zacks Rank #2 (Buy).
CONAGRA FOODS (CAG): Free Stock Analysis Report
GENL MILLS (GIS): Free Stock Analysis Report
J&J SNACK FOODS (JJSF): Free Stock Analysis Report
KELLOGG CO (K): Free Stock Analysis Report
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