Raising My Fair Value Estimate For General Mills

|
About: General Mills, Inc. (GIS)
by: Maximilian Dorn
This article is exclusive for subscribers.
Maximilian Dorn
Value, long/short equity, long-term horizon, dividend investing
Summary

Shares of General Mills had a great 2019.

The company continues to improve profitability and reduce leverage.

I am raising my fair value estimate to $54.53 per share.

I currently view the shares as fairly but not attractively priced.

Investment Thesis

Back in December 2018, I claimed that General Mills (GIS) was undervalued at its price of $38.56 per share at the time. The stock is since up more than 40%,