GIS Investment Analysis Report & Stock Research, General Mills, Inc.

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General Mills, Incorporated (GIS)

GIS Stock Report

2-Year Price History

Recent Price
(7/2 4:00PM) +0.6%
$58.50
52-Week Price
$46.37 - $72.01
Market Capitalization
$19.2 Billion
Dividend Yield
3.20%
Most Recent Dividend
$1.57

Ockham's Rating

Rating specific information requires Premium Access.
Buy Now or Take the Tour.

GIS Revenue

As a value investing shop, we are interested in seeing how GIS's revenues measure up against past performances. One easily understandable way of doing that is to compare Price to Sales per share levels over a given time frame. Assuming it is available, Ockham prefers to look at ten years of history (for this stock there are 10 years of history available) and we weigh recent years more heavily. This allows us to find weighted average historical high and low Price to Sales ratios, which give us a better idea of the stock's current underlying value. Using this method, we have established a high range for Price to Sales of 1.70x and the low end of the range at 1.32x.

With respect to these historically rational metrics, notice that the current Price to Sales per share ratio for GIS of 1.32x is somewhat below its historical weighted average by 13%. Given this level of sales per share, we suggest a neutral share price forecast. To the extent there is a further drop in the Price to Sales ratio from current levels, which would occur through some combination of increased sales per share or a decline in share price, we would only become more positive about the Price to Sales ratio outlook.

GIS Cash Earnings

Looking at GIS specifically in their Cash Earnings capabilities, Ockham views GIS as below their historical average multiples of Cash Earnings, as calculated by our proprietary analysis. It is incredibly important to understand that for GIS, the current level of Cash Earnings compared to its historical levels helps identify where GIS is in relation to what the investing community was willing to pay for this level of Cash Earnings in the past. With a historical high Cash Earnings per share ratio of 13.84 and a historical low Cash Earnings per share ratio of 10.71, an investor can relate where value becomes optimal.

With a historical average Cash Earnings ratio of 12.28, the current Cash Earnings ratio of 12.21 is a positive opportunity for value in the Ockham view. Naturally, we would love to see a deeper value opportunity for GIS, but to get there one of two things must occur (or both). Either the stock price must decline further to increase the long term buying opportunity, or the management at GIS needs to earn more cash. If either, or both, of these occur, then we could see a significant gap emerge between what investors were willing to pay for in the past, and where GIS is trading currently (latest close price of $58.50).

GIS Dividends

A positive Ockham rating does not require a company to pay out an inviting dividend or a dividend at all. However, we believe dividends provide a useful measure of a company's inherent expectations.

Comparable to our analysis of Sales and Cash Earnings per share, we examine dividend yields from GIS against the historic high and low levels over an available data range. Because GIS has an established history of paying a dividend to shareholders, there is value in comparing recent dividends to historical dividends. In GIS’s case, the estimated annual dividend is $1.88 producing a current dividend yield of 3.21%. The highest dividend yield from GIS in recent history was 4.05% while the lowest dividend yield was 2.08%. A current dividend yield of 4.73% above the historical median is favorable in our analysis of GIS.

Peer Comparison

:

General Mills, Inc. Industry Grouping

(7/2/2009)
Company Ticker Market Cap (Ml) Latest
Price
Price/Cash Earnings Price/Sales 5-Yr. Rev.
Growth Rate
5-Yr.
Avg. ROE.
Current 10-Yr. Range* Current 10-Yr. Range*
Peer Company Averages (not incuding GIS) 10.99 6.19 » 22.51 1.39 0.88 » 2.62 9.27% 28.52%
*10 year range does not include current year values
General Mills, Inc. GIS $19.2 Billion $58.50 12.21 9.46 » 34.91 1.32 1.09 » 3.34 5.38% 20.62%
Kellogg Company K $17.9 Billion $46.82 11.79 9.56 » 15.04 1.37 1.12 » 1.95 7.79% 50.78%
Companhia de das Bebidas Americas ADS AmBev PF ABV $17.3 Billion $64.38 14.21 5.91 » 25.30 3.11 1.36 » 6.15 24.26% 14.08%
Archer Daniels Midland Company ADM $17.0 Billion $26.54 6.23 3.18 » 15.60 0.26 0.11 » 0.84 17.85% 12.96%
Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs CBY $11.8 Billion $34.66 13.33 4.33 » 38.00 1.25 0.85 » 2.45 -7.36% 20.04%
H.J. Heinz Company HNZ $11.3 Billion $35.80 9.37 7.97 » 18.59 0.98 0.95 » 1.74 3.82% 44.72%
>
Ockham Ratings & Analysis Report
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The latest TV Media Discussion

12:53:37 PM GIS $59.11 General Mills, Inc.
RAZORWIRE
Power Lunch
1 days ago (07/02)
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12:49:42 PM GIS $59.13 General Mills, Inc.
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Power Lunch
1 days ago (07/02)
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12:49:07 PM GIS $59.13 General Mills, Inc.
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Power Lunch
1 days ago (07/02)
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12:48:21 PM GIS $59.09 General Mills, Inc.
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Power Lunch
1 days ago (07/02)
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12:28:32 PM GIS $58.94 General Mills, Inc.
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Power Lunch
1 days ago (07/02)
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11:34:41 AM GIS $58.43 General Mills, Inc.
RAZORWIRE
The Call
1 days ago (07/02)
“…Sector over the course of the next six months, what's out there that you like that really is prompting to you get into that particular stock right now? >> sure, we would highlight a couple different names we like. Kellogg's and GENERAL MILLS in the consumer staples area. We purchased those stocks in early april. They have done reasonably well, but think the devaluation is pretty compelling. The demand outlook is stable. …” …more details…
11:13:40 AM GIS $58.39 General Mills, Inc.
RAZORWIRE
Fox Business
1 days ago (07/02)
“…We had a few glitches, which we have passed. But, I think a lot of folks are getting out of here, but that doesn't mean that they're still not action on wall street and anything can happen. We're watching a lot of names improving so slightly, but still, improving like GENERAL MILLS which we started with down arrows and now we're seeing the >> thank you so much for that nicole petallides at the new york stock exchange. Well, there's a lot more news …” …more details…
11:12:55 AM GIS $58.38 General Mills, Inc.
RAZORWIRE
Fox Business
1 days ago (07/02)
“…Tops stocks close to j&j and type o-somebody's typo. Look at the news, and we'll continue to watch GENERAL MILLS and some traders still think that some the consumer players are plays to the long-term and GENERAL MILLS turning into the green and earlier lower, they did get the positive comments from goldman sachs today. Saying that they're still cheero on GENERAL MILLS and that's one to watch and with an up arrow there and the some of the airlines have up arrows here and take a look what's going on here with continental and the reason …” …more details…
10:26:58 AM GIS $58.01 General Mills, Inc.
RAZORWIRE
Fox Business
1 days ago (07/02)
“…Underweight to equal weight and as a result, you see the die ver against and started once again delta with an overweight rating and last but not least, looking at some of the other movers, goldman sachs talking positively about GENERAL MILLS, though that name has been to the down side. Tata motors an upgrade over at deutche bank and johnson controls which I mentioned earlier as being part of the cyclicals and the pressure is but as I was talking to angelo, …” …more details…
9:35:23 AM GIS $58.15 General Mills, Inc.
RAZORWIRE
Squawk On The Street
1 days ago (07/02)
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9:31:54 AM GIS $57.80 General Mills, Inc.
RAZORWIRE
The Opening Bell on Fox Business
1 days ago (07/02)
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9:26:12 AM GIS $57.76 General Mills, Inc.
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The Opening Bell on Fox Business
2 days ago (07/02)
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8:42:40 AM GIS $57.51 General Mills, Inc.
RAZORWIRE
Squawk Box
2 days ago (07/02)
“…Tells me is that they need to invest in stocks with overseas gee, I wonder if that's going to fly on main street. >> you know -- >> oracle and GENERAL MILLS? >> mark. >> let me say, wage growth is inflation is decelerating. And if we don't remain aggressive, if the fed doesn't remain aggressive, if fiscal …” …more details…
8:42:15 AM GIS $57.51 General Mills, Inc.
RAZORWIRE
Squawk Box
2 days ago (07/02)
“…The market is embracing that the other thing I would say is that when you look at great companies like oracle and other companies that knocked the cover off the ball like GENERAL MILLS, both said they could have done better but the dollar was too strong, not too weak. Those are the people to listen not guys like me or somebody >> no, and that does good for …” …more details…
5:37:51 PM GIS $58.19 General Mills, Inc.
RAZORWIRE
Fast Money
2 days ago (07/01)
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5:07:46 PM GIS $58.33 General Mills, Inc.
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Fast Money
2 days ago (07/01)
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5:06:02 PM GIS $58.33 General Mills, Inc.
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Fast Money
2 days ago (07/01)
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4:03:25 PM GIS $58.19 General Mills, Inc.
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Closing Bell
2 days ago (07/01)
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3:59:16 PM GIS $58.15 General Mills, Inc.
RAZORWIRE
Countdown to the Closing Bell
2 days ago (07/01)
“…But for today, we've got in great news on ford, gaining market share, but let's start off with the household names, green on the screen. GENERAL MILLS kicking it off and upping the outlook and we've heard about inflation and we've seen a lot of things ticking and GENERAL MILLS and pepsi, mcdonald's, look at this, all up arrows and names we know at johnson & johnson in the green today and then you have the hotels, watch the arrows flip around and barclays came out and …” …more details…
3:55:43 PM GIS $58.11 General Mills, Inc.
RAZORWIRE
Countdown to the Closing Bell
2 days ago (07/01)
“…Gets the stock price up, it's semantics, and number plays, don't buy into it. Number six, craft. Believe it or not, kraft was a dow leaders. GENERAL MILLS expect the rate of cost of inflation on input goods to moderate and that actually sent the whole consumer staple and kraft benefitted and was our big dow leader today. Yum! Brands actually also …” …more details…
3:35:49 PM GIS $58.41 General Mills, Inc.
RAZORWIRE
Countdown to the Closing Bell
2 days ago (07/01)
“…We talked about the consumer they wanted to bring it to the viewers at home. Look at GENERAL MILLS. They make dove, almonds and a lot of green on the screen. Buy numbers coming in. >> iraqi forces now have …” …more details…
3:23:50 PM GIS $58.37 General Mills, Inc.
RAZORWIRE
Countdown to the Closing Bell
2 days ago (07/01)
“…>> forecast better than expected earning for the full GENERAL MILLS up 4 1/4%. President become bam pushing healthcare arguing the doing nothing would be more costly than revamping the entire …” …more details…
3:17:54 PM GIS $58.36 General Mills, Inc.
RAZORWIRE
Closing Bell
2 days ago (07/01)
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3:03:10 PM GIS $58.33 General Mills, Inc.
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Closing Bell
2 days ago (07/01)
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2:28:50 PM GIS $58.12 General Mills, Inc.
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Street Signs
2 days ago (07/01)
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1:15:23 PM GIS $57.92 General Mills, Inc.
RAZORWIRE
Fox Business
2 days ago (07/01)
“…Points. GENERAL MILLS profits doubled because more of you are eating at home. You like stuff like cheerios. Up goes the stock 3%. 57.90. Raised dividend yesterday. …” …more details…
1:03:00 PM GIS $57.90 General Mills, Inc.
RAZORWIRE
Power Lunch
2 days ago (07/01)
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12:52:21 PM GIS $57.89 General Mills, Inc.
RAZORWIRE
Power Lunch
2 days ago (07/01)
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12:50:38 PM GIS $57.89 General Mills, Inc.
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Power Lunch
2 days ago (07/01)
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12:49:48 PM GIS $57.89 General Mills, Inc.
RAZORWIRE
Power Lunch
2 days ago (07/01)
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12:02:23 PM GIS $57.81 General Mills, Inc.
RAZORWIRE
Fox Business
2 days ago (07/01)
“…You can see ibm up 26% year to about 13 of these components are in the green and the biggest losers are g.E. And caterpillar. Some of the top stories we have been watching, GENERAL MILLS making new saying their profit nearly doubled. They upped their four-year view. We've been hearing about wal-mart on the other …” …more details…
11:44:52 AM GIS $57.74 General Mills, Inc.
RAZORWIRE
The Call
2 days ago (07/01)
“…>>> check out GENERAL MILLS, up better than 3%, and forecasting strong results for the rest of helped by new products and moderating commodity costs. The ceo GENERAL MILLS will be live on "the closing bell" 3:30 >> the pharmaceutical gets approval for the drug for kidney …” …more details…
11:34:04 AM GIS $57.69 General Mills, Inc.
RAZORWIRE
Fox Business
2 days ago (07/01)
“…And wine and spirits may have constellations brands out with a slightly better than expected quarterly profit. We've got a gain there as well. And GENERAL MILLS quarterly profit topping wall street expectations and the cereal maker hiking the guidance to the coming fiscal year and green across the boardment you want to talk about ringing up some …” …more details…
11:04:56 AM GIS $57.69 General Mills, Inc.
RAZORWIRE
Fox Business
2 days ago (07/01)
“…Taking a look at. Stocks doing very well and also, there's an overload of corn, and talking to ben willis, we were talking about the fact yesterday had to limit down. Not only did GENERAL MILLS up their full year view, but also gives them some added advantage these are some of the other names that we continue to watch. Iac/interactive. …” …more details…
11:04:06 AM GIS $57.69 General Mills, Inc.
RAZORWIRE
The Call
2 days ago (07/01)
“…Of issues. Nonetheless, that's where people seem to be betting. Consumer staples today on fire. They were really the underperformer in the last but you've got good numbers out of GENERAL MILLS, you've got good numbers out of constellation brands, people still drinking, apparently in the recession, and vodka sales up 13%. And kraft has kind of broken out …” …more details…
10:10:20 AM GIS $57.72 General Mills, Inc.
RAZORWIRE
Fox Business
2 days ago (07/01)
“…With it because if you don't have that volume behind it or conviction, then we could see the markets on the move one way take a look at early movers and seeing a lot of consumer stocks doing well and GENERAL MILLS in particular with their upping the full year view. Oshkosh, unbelievable move in the pre-market and up 30% and …” …more details…
10:03:53 AM GIS $57.82 General Mills, Inc.
RAZORWIRE
Squawk On The Street
2 days ago (07/01)
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9:31:14 AM GIS $57.27 General Mills, Inc.
RAZORWIRE
The Opening Bell on Fox Business
2 days ago (07/01)
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9:27:26 AM GIS $57.34 General Mills, Inc.
RAZORWIRE
The Opening Bell on Fox Business
3 days ago (07/01)
“…Take a look at that, and aig once again after falling yesterday, more than 10% today. Now with the one for 20 reverse stocks looking lower, watching GENERAL MILLS, watching wal-mart, the lodging stocks after barclays downgraded that group and wells fargo with dick bove with chatter on that. Traditionally, a couple of days to the upside ahead of the three-day weekend. …” …more details…
9:17:07 AM GIS $57.48 General Mills, Inc.
RAZORWIRE
Squawk On The Street
3 days ago (07/01)
“…So do many other products in their portfolio. The puts and takes are, it's generally a net positive for the packaged food companies. >> do you buy all of them? It does seem on some level that GENERAL MILLS is out performing rivals, whether it be campbell's or hershey or whatever it might be. That's been true. I think, you know, GENERAL MILLS has a healthy on trend portfolio that's helped them quite a bit. We like kellogg and campbell quite a bit as well. We also like the store brand manufacture. …” …more details…
View All General Mills, Inc. News

Key Fundamentals

GIS - General Mills, Incorporated Fundamentals
Price (7/2 4:00PM) $58.50
Volume (7/2 4:00PM) 5.7 Million
Last Close Price $58.18
10 Day Average Volume 3.3 Million
13 Week Price Range $48.51 - $59.16
52 Week Price Range $46.37 - $72.01
LTM Revenue $14.5 Billion
 
Shares Outstanding (05/2008) 329.0 Million
Market Capitalization $19.2 Billion
Shares Held By Institutions 249.1 Million
Institutional Holders 990
% Shares Held By Institutions 75.70%
Earnings Per Share (EPS) $3.71
P/E Ratio 18.00
Book Value Per Share $16.83
 
Gross Margin 35.60%
Annual Dividend 1.88
Dividend Yield 3.20%
Beta 0.27
Fiscal Year Ends May

About General Mills, Inc.

General Mills, Incorporated is considered to operate in the Consumer Goods sector. They specifically operate in the Processed/Packaged Goods business segment contained within the Food & Beverage industry.

The Company is a manufacturer and marketer of branded consumer foods sold through retail stores. It also supplies branded and unbranded food products to the foodservice and commercial baking industries.

Market Direction
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