Wed, Jul. 20, 10:11 AM| Wed, Jul. 20, 10:11 AM | 2 Comments
Thu, Jun. 30, 12:51 PM
- Kellogg (K +5.7%), General Mills (GIS +4.9%), Nestle (OTCPK:NSRGY +1.8%)
- Previously: Hershey rises 19% on report of blockbuster buyout offer from Mondelez (June 30)
Wed, Jun. 29, 8:16 AM
- General Mills (NYSE:GIS) reports net sales fell 1% on a constant currency basis in FQ4.
- U.S. Retail sales reduced 12.2% to $2.24B and operating profit -23.8% to $430.5M.
- International sales decreased 1.5% to $1.2B and operating profit -11.9% to $118M.
- Convenience Stores and Foodservice sales declined 7.8% to $486.6M and operating profit +5.1% to $105.7M.
- Adjusted gross margin rate declined 130 bps to 34.4%.
- SG&A expense rate rose 60 bps to 19.8%.
- Adjusted operating profit rate -210 bps to 14.6%.
- The company expects 1-2 cent headwind from currency translation in 2017.
- FY2017 Guidance: Organic net sales: Flat to down 2% ; Adjusted operating margin: ~+150 bps; Adjusted EPS: +6% to +8% (on a constant currency basis).
- GIS +1.89% premarket.
Wed, Jun. 8, 12:03 PM
- General Mills (GIS -0.1%) announced a strategic partnership with the largest organic cooperative in the U.S. that will help about 20 dairy farms add around 3,000 acres to organic dairy production over the next three years.
- This strategic alignment will build General Mills' relationships with the organic farmers who will be supporting its yogurt operating unit in the U.S., which includes brands like Yoplait, Annie's, Liberté and Mountain High.
- Press release
Fri, Apr. 1, 11:32 AM
- Major food and beverage stocks Kellogg (K +0.5%), General Mills (GIS +1.8%), PepsiCo (PEP +0.6%), and Coca-Cola (KO +0.5%) all trade at or just off their all-time highs.
- Post Holdings (POST +1%) and Dr. Pepper Snapple (DPS +1.2%) are also within striking distance of their share price high marks after strong runs over the last year.
- The group of majors has outperformed some of the organic story stocks in the F&B sector as they have innovated into healthier products on their own. Many of the big names also offer generous dividend payouts.
- Now read Business Models, Great And Poor
Wed, Mar. 23, 7:23 AM
- General Mills (NYSE:GIS) reports net sales declined 4% on a constant currency basis in FQ3.
- U.S. Retail sales fell 6.6% to $2.48B and operating profit -0.5% to $518.4M.
- International sales dropped 13.1% to $1.08B and operating profit -35.1% to $70.4M.
- Convenience Stores and Foodservice sales down 2.4% to $453.7M and operating profit +31.3% to $90.6M.
- Adjusted gross margin rate +160 bps to 34.8%.
- SG&A expense rate grew 80 bps to 18.9%.
- Adjusted operating profit rate increased 60 bps to 15.9%.
- The company expects 8-cent headwind from currency translation in 2016.
- FY2016 Guidance: Net sales: decline at a low single-digit rate on a constant currency basis; Adjusted EPS: to grow at a low single-digit rate.
Dec. 17, 2015, 7:48 AM
- General Mills (NYSE:GIS) reports net sales fell 2% on a constant currency basis. The net impact of the loss of the Green Giant business and the addition of Annie's was a one percentage point loss of revenue.
- U.S. Retail sales fell 3.5% to $2.76B. Operating profit -2.5% to $600.4M.
- International sales declined 12.4% to $1.157B. Operating profit +1.4% to $136.2M.
- Convenience Stores and Foodservice sales declined 4.5% to $505.8M. Operating profit +6.9% to $102.8M.
- Adjusted gross margin rate +60 bps to 35.5%.
- SG&A expense rate -50 bps to 17.5%.
- Adjusted operating profit +100 bps to 18.0%.
- Previously: General Mills misses by $0.01, misses on revenue (Dec. 17 2015)
Sep. 25, 2015, 2:04 PM
- Packaged food stocks are ahead of broad market averages for the day. There are some consistent themes playing out in the sector which have increased interest in select names. Topping the list are M&A potential, activist investor action, and good old-fashioned fundamental valuation.
- Gainers: Treehouse Foods (NYSE:THS) +3.1%, B&G Foods (NYSE:BGS) +2.9%, ConAgra Foods (NYSE:CAG) +2.7%, Kellogg (NYSE:K) +2.6%, General Mills (NYSE:GIS) +2.3%, Campbell Soup (NYSE:CPB) +2.3%, J.M. Smucker (NYSE:SJM) +1.6%.
Sep. 22, 2015, 7:40 AM
- General Mills (NYSE:GIS) reports net sales rose 4% on a constant currency basis in FQ1.
- U.S. Retail sales increased 3.6% to $2.53B and operating profit +37.7% to $629.7M.
- International sales declined 11.3% to $1.20B and operating profit -19.9% to $117M.
- Convenience Stores and Foodservice sales grew 1% to $477.7M and operating profit -8.6% to $79.8M.
- Annie's business contributed 2 percentage points of growth to the total sales and 3 points of growth to the U.S. retail segment.
- Adjusted gross margin rate +290 bps to 37.7%.
- SG&A expense rate improved 100 bps to 19.3%.
- Adjusted operating profit rate rose 390 bps to 18.4%.
- FY2016 Guidance: Segment operating profit: to grow at a low single-digit rate on constant currency basis; Adjusted EPS: to grow at a mid-single-digit rate Y/Y on constant currency basis.
Sep. 2, 2015, 8:12 AM| Sep. 2, 2015, 8:12 AM | 1 Comment
Aug. 14, 2015, 1:44 PM
- Nestle (OTCPK:NSRGY, OTCPK:NSRGF) or General Mills (GIS +0.5%) could make a run at Mondelez International (MDLZ +0.9%) with Berkshire Hathaway and 3G effectively taking themselves out of the bidding process for a few years due to the Kraft-Heinz merger, speculates The Deal.
- A buyer of Mondelez will have to be heavy hitter due to the company's estimated enterprise value of +$90B. PepsiCo (PEP +0.3%) fits the bill and has Nelson Peltz backing the play, but has a board and CEO seemingly uninterested.
Jul. 20, 2015, 11:53 AM
- There's been minor spike in General Mills (NYSE:GIS) from negative territory after some chatter on a Nestle (OTCPK:NSRGF, OTCPK:NSRGY) buyout circulates.
- Talk on a combination between food giants has been in the background ever since the gigantic Heinz-Kraft merger. The usual list of suspects includes Kellogg, Campbell Soup, and Hormel along with General Mills.
- GIS is +0.2% to trade less than a dollar from its 52-week high.
- Previously: Handicapping 3G Capital's next food play (Mar. 26 2015)
- Previously: General Mills CEO talks M&A (Jul. 15 2015)
Mar. 26, 2015, 12:37 PM
- Deutsche Bank thinks 3G Capital will be back in the food sector for a major acquisition faster than some other investment firms anticipate.
- 3G put itself in a stronger position to make a major purchase by not adding debt in the Kraft deal.
- Analyst Eric Katzman sees some food names trading with a premium as the 3G shadow hangs over the sector, while others have downside risk with M&A speculation not making as much sense.
- Premium on: ConAgra (NYSE:CAG), General Mills (NYSE:GIS), Mondelez International (NASDAQ:MDLZ), Pinnacle Foods (NYSE:PF), PepsiCo (NYSE:PEP).
- Premium off: Campbell Soup (NYSE:CPB), Hershey (NYSE:HSY), Hormel (NYSE:HRL), Kellogg (NYSE:K), J.M. Smucker (NYSE:SJM).
- Previously: Investors snapping up food stocks (Mar. 25 2015)
- Previously: Beer fallout from Kraft buyout (Mar. 25 2015)
- Previously: Kraft-Heinz merger has a few ETFs on the move (Mar. 25 2015)
Mar. 25, 2015, 7:07 AM
- Food stocks could see a lift today after a high-profile merger between Kraft and Heinz was announced.
- The sector has been identified by analysts as a likely hotbed for consolidation.
- Early premarket gainers include Mondelez International (NASDAQ:MDLZ) +2.1%, General Mills (NYSE:GIS) +1.0%, and Campbell Soup (NYSE:CPB) +0.4%.
- Previously: Kraft, Heinz announce merger
Mar. 18, 2015, 7:29 AM
- General Mills (NYSE:GIS) reports net sales increased 3.0% on a constant currency basis in FQ3.
- U.S. Retail sales grew 1.3% to $2.65B and operating profit +0.8% to $521M.
- International sales down 6.7% to $1.23B and operating profit -1.9% to $108M.
- Convenience Stores and Foodservice sales rose 6.6% to $465M and operating profit +10.6% to $69M.
- Adjusted gross margin rate -78 bps to 33.26%.
- SG&A expense ratio -110 bps to 18.14%.
- FY2015 Guidance: Net sales: to grow at a low single-digit rate Y/Y on constant currency basis; Segment operating profit: to decline at a low single-digit rate Y/Y on constant currency basis; Adjusted EPS: to grow at a low-single-digit rate Y/Y on constant currency basis.
- GIS +1.92% premarket.
Mar. 6, 2015, 10:46 AM
- Global consumer staples stocks are weaker than market averages as concerns on market pricing and F/X sit in the background.
- The 1.21% gain in the U.S. Dollar Index isn't going unnoticed by traders.
- Notable decliners include General Mills (NYSE:GIS) -1.6%, Colgate-Palmolive (NYSE:CL) -2.0%, Unilever (NYSE:UL) -1.9%, General Mills (GIS) -1.8%, Mondelez International (NASDAQ:MDLZ) -1.9%, Post Holdings (NYSE:POST) -1.8%, Hershey (NYSE:HSY) -1.8%, Coca-Cola (NYSE:KO) -1.2%.
- The Consumer Staples ETF (NYSEARCA:XLP) is down 1.2% versus S&P 500 -0.4%.
- Other staples ETFs: VDC, FXG, RHS, FSTA, PSL, PSCC
General Mills, Inc. 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. The company operates through three reportable business segments: U.S. Retail,... More
Sector: Consumer Goods
Industry: Processed & Packaged Goods
Country: United States
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