Month: November 2022

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Manulife Financial (TSE:MFC) Price Target Increased to C$24.50 by Analysts at Canaccord Genuity Group

Manulife Financial (TSE:MFC) Price Target Increased to C$24.50 by Analysts at Canaccord Genuity Group

Manulife Financial (TSE:MFC – Get Ranking) (NYSE:MFC) had its cost focus on boosted by analysts at Canaccord Genuity Group from C$23.50 to C$24.50 in a report issued on Friday, BayStreet.CA reviews. Canaccord Genuity Group’s price tag objective indicates a likely upside of 3.59{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from the company’s past near.

Many other brokerages also just lately weighed in on MFC. Scotiabank elevated shares of Manulife Money from a “sector carry out” score to an “outperform” ranking in a analysis be aware on Wednesday, July 27th. Barclays lowered their price target on Manulife Economic from C$29.00 to C$28.00 in a report on Friday. Cormark lifted their price tag target on Manulife Economical from C$24.00 to C$25.00 in a report on Friday, August 12th. Nationwide Bankshares diminished their selling price target on Manulife Monetary from C$25.00 to C$24.00 in a report on Friday, October 28th. Ultimately, Evercore ISI dropped their target selling price on Manulife Economical to C$24.00 and set a “maintain” ranking on the inventory in a research report on Monday, October 31st. 7 analysts have rated the stock with a keep rating, two have assigned a get rating and just one has assigned a potent get rating to the firm. According to MarketBeat, the business has an average score of “Hold” and a consensus focus on cost of C$26.67.

Manulife Financial Stock Performance

Shares of MFC traded up C$.60 in the course of mid-day trading on Friday, achieving C$23.65. 1,924,356 shares of the firm’s stock were exchanged, compared to its common quantity of 8,048,947. The organization has a personal debt-to-fairness ratio of 43.39, a latest ratio of 7.04 and a brief ratio of 2.58. The stock has a sector capitalization of C$44.66 billion and a PE ratio of 6.11. The business’s fifty day basic shifting regular is C$22.28 and its 200-working day simple relocating typical is C$22.86. Manulife Fiscal has a 52-week lower of C$20.81 and a 52-week large of C$28.09.

Manulife Money (TSE:MFC – Get Score) (NYSE:MFC) very last issued its earnings results on Wednesday, August 10th. The economical companies supplier reported C$.78 EPS for the quarter, hitting the consensus estimate of C$.78. The business experienced revenue of C$15.36 billion for the quarter, in comparison to analysts’ expectations of C$14.73 billion. On regular, equities study analysts be expecting that Manulife Economical will article 18.950001 earnings per share for the latest calendar year.

Insider Getting and Providing at Manulife Financial

In other Manulife Economical news, Director Michael James Doughty marketed 16,247 shares of Manulife Financial stock in a transaction on Tuesday, August 16th. The inventory was offered at an regular cost of C$24.27, for a full benefit of C$394,314.69. Adhering to the completion of the transaction, the director now owns 13,118 shares in the enterprise, valued at around C$318,373.86. In connected news, Senior Officer Steve Finch marketed 13,926 shares of the stock in a transaction dated Tuesday, August 16th. The stock was marketed at an typical cost of C$24.27, for a complete transaction of C$337,984.02. Following the completion of the transaction, the insider now right owns 17,490 shares in the firm, valued at C$424,482.30. Also, Director Michael James Doughty sold 16,247 shares of the stock in a transaction dated Tuesday, August 16th. The stock was marketed at an ordinary cost of C$24.27, for a whole value of C$394,314.69. Pursuing the transaction, the director now owns 13,118 shares of the company’s stock, valued at C$318,373.86.

Manulife Economical Company Profile

(Get Ranking)

Manulife Money Company, alongside one another with its subsidiaries, presents financial goods and providers in Asia, Canada, the United States, and internationally. The organization operates by means of Prosperity and Asset Management Businesses Insurance policy and Annuity Goods And Corporate and Other segments. The Wealth and Asset Administration Companies phase offers mutual funds and exchange-traded resources, group retirement and savings solutions, and institutional asset management solutions by brokers and brokers affiliated with the firm, securities brokerage firms, and economical advisors pension approach consultants and financial institutions.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

This immediate information warn was produced by narrative science technology and economic facts from MarketBeat in purchase to deliver viewers with the swiftest and most accurate reporting. This tale was reviewed by MarketBeat’s editorial staff prior to publication. Make sure you deliver any inquiries or comments about this tale to contact@marketbeat.com.

Ahead of you take into consideration Manulife Fiscal, you can expect to want to listen to this.

MarketBeat retains keep track of of Wall Street’s major-rated and most effective undertaking investigate analysts and the stocks they advise to their customers on a day-to-day basis. MarketBeat has discovered the five shares that top rated analysts are quietly whispering to their purchasers to obtain now ahead of the broader sector catches on… and Manulife Financial wasn’t on the record.

Although Manulife Economic at the moment has a “Keep” rating amid analysts, leading-rated analysts think these five shares are much better purchases.

Check out The Five Shares Listed here

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Polestar stock surges after reporting first-ever profit as a public company

Polestar stock surges after reporting first-ever profit as a public company

In anything of a modify this earnings time, an electric carmaker (other than Tesla) truly described a revenue for the quarter.

Polestar (PSNY), the Swedish-based mostly firm backed by Volvo and China’s Geely, claimed its initial gross income as a community corporation since completing its SPAC merger before this year.

For the quarter, Polestar noted:

Though Polestar did miss on the best line, revenue ended up up 105{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} for the quarter as opposed to very last 12 months, and it was more than enough to eke out a $4 million gross earnings for the quarter. The firm was able to trim its functioning loss for Q3 by one-third as opposed to last 12 months as properly.

By means of the first 9 months of the calendar year, Polestar documented $54 million in gross revenue on $1.48 billion in profits. Throughout that time Polestar sent 30,424 cars globally, and the company mentioned it was on monitor to strike its shipping target of 50,000 vehicles for the 12 months. The corporation expects $2.4 billion in product sales for the year, predicting that general performance will be “driven by solid Q4 2022 profits.”

Polestar also stated it was adequately funded by means of 2023, citing its previously funding offer well worth $1.6 billion, delivered by its company dad and mom Volvo and Geely.

CHICHESTER, UNITED KINDOM - JUNE 24: The Polestar O2 seen at Goodwood Festival of Speed 2022 on June 24th in Chichester, England. The annual automotive event is hosted by Lord March at his Goodwood Estate. (Photo by Martyn Lucy/Getty Images)

CHICHESTER, UNITED KINDOM – JUNE 24: The Polestar O2 noticed at Goodwood Festival of Pace 2022 on June 24th in Chichester, England. The annual automotive function is hosted by Lord March at his Goodwood Estate. (Picture by Martyn Lucy/Getty Photos)

Polestar suggests its products pipeline is slated to expose new item launches like the Polestar 4 SUV in 2023, the Polestar 5 grand touring sedan in 2024, and the Polestar 6 roadster in 2026. Polestar previously declared its Polestar 3 SUV would be coming in the fourth quarter future yr, and will inevitably be developed at Volvo’s plant in South Carolina in mid-2024.

All was not good information however, as Polestar CEO Thomas Ingenlath reported offer chain issues and components shortages would hamper production.

“Will the scenario enhance upcoming year? No, we be expecting this once more to be one thing that keeps us hectic,” Ingenlath said in a media briefing. Earlier this 12 months Polestar trimmed its creation forecast to 50,000 from 65,000 thanks to COVID-related shutdowns in China. Polestar builds its automobiles at plant in Chengdu, China.

Nevertheless, Polestar shares are surging these days on the back of today’s outcomes. With the backing of its company moms and dads, Polestar has been ready to leverage the manufacturing and engineering capabilities of Volvo and Geely to see its “asset-light” enterprise product be successful when other pure-enjoy EV rivals like Rivian (RIVN), Lucid (LCID), and even Nio (NIO) battle for profitability.

—

Pras Subramanian is a reporter for Yahoo Finance. You can stick to him on Twitter and on Instagram.

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Why Planet Fitness hasn’t raised its $10 monthly gym price in 30 years

Why Planet Fitness hasn’t raised its $10 monthly gym price in 30 years


New York
CNN Business
 — 

A gym membership in the United States typically expenditures all-around $50 a thirty day period. Boutique fitness centers and significant-depth courses run double and triple that.

Planet Conditioning, however, has provided $10 every month memberships for 30 decades. The no-frills gym chain has not raised the rate, earning it one of the couple points that nonetheless costs the identical despite the best inflation in a long time.

Planet Health and fitness blares out the $10 gym prepare, which contains yearly charges and free of charge instruction, in commercials, and the enterprise has extended sponsored the New Year’s Eve celebration in Occasions Square to get persons contemplating about signing up for memberships as their resolution.

That practically sacrosanct $10 cost has develop into a key element of the company’s brand positioning as an obtainable, “judgment-free” club conducive to informal health club goers. Earth Exercise customers generally go 5 or six situations a thirty day period, and all around 60{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of them really don’t go to in a 30-working day stretch.

“It’s a very potent marketing instrument,” mentioned Simeon Siegel, who addresses the corporation at BMO Funds Marketplaces. The $10 rate is appropriate in the sweet place, he stated: low-priced plenty of to attract individuals to Earth Conditioning who want to get in condition and, equally as significant, not so pricey that they will cancel if they really do not go typically.

For $10 a thirty day period, rare users are likelier to hold on to the membership to say they belong to a health and fitness center somewhat than give up, he stated.

Planet Fitness draws customers into gyms with $10 memberships and convinces them to trade up to its $24.99 plan.

Earth Health and fitness employs $10 dues, which can be canceled at at any time, to recruit men and women who are fascinated in working out, but have never joined a gym prior to, are intimidated by health fanatics at other fitness centers or can not afford to pay for pricier clubs. The organization believes $10 is an entryway for the around 80{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of Individuals who do not belong to a health club.

This low-cost fitness center membership product – recognised in the health market as substantial volume, reduced selling price, or “HVLP” – is also tailored to attractiveness to substantial-college learners accompanied by a dad or mum, faculty learners and individuals recovering from an harm or surgical procedure, stated Rick Caro, the president of Administration Vision and longtime conditioning sector expert.

“It’s a ‘get you off the couch’ selling price,” stated Christopher Rondeau, the main government of World Fitness

(PLNT), which has grown to far more than 2,300 fitness centers nationwide and attained a history-substantial 16.6 million associates last quarter. “You’re not going to give one thing a attempt for the very first time and spend $50, $60, $70,” he said.

World Health and fitness does not system to raise the $10 price anytime quickly. Rather, it will hold down the value by receiving men and women to trade up to its $24.99 month to month “Black Card” membership with more perks.

“The lengthier I can continue to be at $10 the better off I am to get persons off the sofa, give conditioning a test and keep on to generate much more benefit in the Black Card,” explained Rondeau.

The higher-priced monthly strategy gives access to all of Planet Fitness’ fitness centers and perks like h2o therapeutic massage beds, massage chairs and tanning machines, and Black Card associates can also deliver a visitor.

Much more than 60{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of customers subscribe to this tier, which World Physical fitness greater by $2 a thirty day period earlier in the year. The normal Earth Conditioning member pays close to $17.60 a thirty day period, assisting the firm continue to keep the reduce program at $10.

“It’s not that diverse from other enterprises that entice you with a reduced price tag level and then upsell you with larger selections,” explained Joseph Altobello, an analyst at Raymond James.

To attractiveness to occasional gym goers, Earth Fitness’ clubs also have much more cardio and mild energy tools than numerous rivals and fewer heavy totally free weights. Earth Conditioning discourages what it calls “lunk” behavior, such as dropping weights and grunting, and has a “lunk alarm” to reduce people today from dropping them.

Planet Exercise has benefited from the consolidation of the conditioning market for the duration of the pandemic, which has remaining the firm with much less budget-gymnasium competition.

All around 25{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of US gyms and studios forever shut during the pandemic – approximately 10,000 services, according to the market trade group. Quite a few big chains, including 24 Hour Health and Gold’s Fitness center, submitted for individual bankruptcy.

World Physical fitness, however, did not forever close any gyms in the course of the pandemic. This was in large element owing to its franchise health and fitness center model, with some of the fitness centers owned by non-public-equity groups.

The organization has also capitalized on Americans on the lookout to get in condition in the aftermath of the pandemic. Every month visits to US fitness centers are larger than they were being in 2019, in accordance to Placer.ai, which tracks foot traffic to suppliers.

Inspite of the rise of Peloton and the at-house exercises several people today obtained applied to through pandemic lockdowns, at-home exercising is not a danger to Earth Fitness’ $10 design.

“It’s a different client,” Altobello claimed. “Not absolutely everyone has the money or the area to create an at-residence fitness center.”

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You need to understand the FTX debacle even if you have no investments in crypto

You need to understand the FTX debacle even if you have no investments in crypto

The unexpected collapse of FTX, the world’s 3rd-premier cryptocurrency trade, underlines how important it is for any investor to study about the risks they consider when they park their money with a evenly regulated organization.

FTX and its affiliate businesses submitted for personal bankruptcy Nov. 11. The company’s founder, Sam Bankman-Fried, resigned his situation as CEO and was replaced by John J. Ray III, a law firm who has worked on the bankruptcies of Enron, Nortel Networks and numerous other firms.

Bankman-Fried is being on with FTX “to aid with an orderly changeover,” in accordance to a push release.

FTX, dependent in the Bahamas, held about $16 billion in consumer assets but experienced lent about $10 billion of those people money to Alameda Investigate, a trading business also operate by Bankman-Fried and headquartered in Hong Kong, according to a Wall Road Journal report. Alameda, in switch, experienced lent out billions of bucks, with some financial loans secured by FTT, a cryptocurrency designed by FTX, in accordance to a Nov. 2 report from CoinDesk.

The benefit of FTT crashed as FTX confronted $5 billion in consumer withdrawal requests last weekend, which remaining FTX struggling with an $8 billion shortfall, in accordance to Bankman-Fried. Binance, the world’s premier crypto trade, had claimed it was selling its $500 million in FTT dependent on stories of FTX’s loans to Alameda.

In this week’s Dispersed Ledger column, Frances Yue rounds up the collapse of FTX, rescue makes an attempt and market response.

Weston Blasi summarizes Bankman-Fried’s amazing claim that he was unaware of FTX’s leverage hazard, which include an obvious absence of basic economical controls.

Much more coverage and differing thoughts as this story develops:

The increase and fall of Sam Bankman-Fried

Lukas I. Alpert chronicles FTX and Alameda Study founder Sam Bankman-Fried’s fast rise and the prompt collapse of his organizations.

Much more: Crypto billionaire Sam Bankman-Fried’s web worth could shrink by above $13 billion

What does the crypto crash signify for financial markets?

Riskier fiscal dominoes drop as extra liquidity dries up.


Getty Pictures/iStockphoto

MarketWatch’s Require to Know column is an early-morning roundup of important areas of worry for investors each individual investing day.

On Nov. 10, as FTX was immediately coming apart, Thomas H. Kee Jr., CEO of Stock Traders Every day and portfolio manger at Equity Logic, described how a decline in excessive liquidity experienced reversed the run-up for cryptocurrencies and riskier stocks. He defined how this could enjoy out in the broader inventory industry.

He also shared buying chances introduced about by this year’s declines.

Bitcoin’s volatility could not be as fantastic as you assume

Getty Photos

Bitcoin
BTCUSD,
+.23{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
alone does not depict the variety of possibility that FTX and Alameda Exploration took by accepting a digital coin as collateral for billions of pounds value of loans. But it absolutely sure is volatile.

On Nov. 10, improved-than-envisioned inflation numbers served drive bitcoin’s value up 11{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $17,524. But then bitcoin was down 6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} early Friday to $16,527. At that issue, bitcoin was down 64{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from the conclude of 2021. Continue to, it was up 150{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from 5 many years before.

So how volatile is bitcoin? Mark Hulbert’s summary may perhaps shock you.

What’s genuinely going on with inflation?

Investors ended up ecstatic immediately after inflation figures for Oct came in decrease than envisioned, sending broad inventory indexes soaring Nov. 10.

As typical, the satan is in the facts. Here’s a set of further seems at the inflation facts:

How to handle firm inventory if you get rid of your career

Meta Platforms is in the approach of laying off 1000’s of employees.


Getty Images

This is an unsure time, even for the biggest tech companies that experienced been escalating employees levels steadily for a long time.

This week Meta Platforms
META,
+1.03{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996},
the mother or father enterprise of Facebook, commenced laying off about 11,000 personnel. Amazon.com
AMZN,
+4.31{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
is examining fees of unprofitable models. The greatest company expenditure is generally workers.

Generally when an personnel are demonstrated the doorway, they are nonetheless keeping selections in their previous employer’s stock. Here’s how to cope with that circumstance if it occurs to you.

Semiconductor shares may perhaps have begun rebounding

Semiconductor stocks have been roaring again from their mid-Oct lows.


FactSet

The iShares Semiconductor ETF
SOXX,
+3.06{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
tracks the PHLX Semiconductor Index
SOX,
+3.08{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
by holding shares of 30 significant suppliers of computer chips or related hardware. The ETF was down 45{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} for 2022 as a result of Oct. 14 but rose 23{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from there, such as a 10{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} enhance on Nov. 10.

The submit-CPI euphoria might transform out to be just another bear marketplace rally, but SOXX now trades for 16.7 periods weighted-consensus forward-earnings estimates among the analysts polled by FactSet. That is reduce than the forward P/E of 17.3 for the S&P 500
SPX,
+.92{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
— this may nevertheless be a great position for prolonged-time period traders to scoop up semiconductor shares at attractive selling prices.

Michael Brush favors this high quality tactic to deciding on semiconductor shares.

Associated: Semiconductor stocks have bounced from 2022 lows — and analysts anticipate upside of at least 28{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the upcoming 12 months

Advice on untangling your finances in advance of retirement

You might have worked challenging and saved and invested for retirement, but have you unwittingly established up a intricate mess that may be complicated to regulate? Alessandra Malito has suggestions on how to arrange your finances for retirement.

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Specialty Crop Financial Management Bootcamp to Be Held in December

Specialty Crop Financial Management Bootcamp to Be Held in December

AMES, Iowa – Iowa State University Extension and Outreach’s Farm, Food items and Company Development software will host a farm money management bootcamp for specialty crop producers in December. The shorter, intensive plan is designed to deliver producers with the opportunity to optimize their business model, analyze their economic infrastructure, develop a fiscal strategy and put together to raise dollars for further enterprise advancement.

The very first two classes will be held virtually on Dec. 6 and 7 from 9 a.m. to noon, with two digital coaching sessions to adhere to. The next two periods will be held on Dec. 15 and 16 from 9 a.m. to midday. The celebration is no cost and registration will be restricted to 10 organizations, every single of which may invite two attendees. To register, take a look at https://go.iastate.edu/TDIQUE.

Man checking on a field of vegetables.Classes will be led by Andy Larson, a farm outreach expert with the Food Money Institute and smaller-scale poultry producer. As farm outreach specialist for the Food Monetary Institute, Larson operates with entrepreneurial farm companies to establish farm economical management ability and obtain the funds they will need to expand. He provides his know-how in farm business and advertising and marketing, agricultural lending and grantsmanship to Farm Boot Camp.

Larson also has encounter functioning in college extension in both equally Iowa and Illinois, offering programming on the business and advertising and marketing side of small farms, local foods and sustainable agriculture.

“Unprecedented change in the foodstuff market is speedily boosting the bar for all foods and price-additional farm enterprises,” reported Olivia Hanlon, schooling extension specialist with Farm, Foods and Enterprise Development at Iowa State. “Old or younger, huge or small, farms across the United States are scrambling to turn out to be much more fiscally resilient and capable of adapting quickly.” Monetary Administration Boot Camp brings together education with one-on-one consulting and networking, having farmers out of their working day-to-working day natural environment and delivering the instruments required to construct a far more resilient organization.

Participants are inspired to deliver money statements to the sessions, which will be examined and reviewed. More than the system of the periods, individuals can count on to build a realistic and apparent organization product path, financial methods and reports that will stand up to scrutiny by banks and investors, a credible organization system with realistic assumptions about long term development and a digital money package to share with stakeholders and aid fundraising.

To sign-up, take a look at https://go.iastate.edu/TDIQUE. For far more facts, contact Olivia Hanlon at ohanlon@iastate.edu.

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Jefferies Financial Group Research Analysts Increase Earnings Estimates for General Mills, Inc. (NYSE:GIS)

Jefferies Financial Group Research Analysts Increase Earnings Estimates for General Mills, Inc. (NYSE:GIS)

General Mills, Inc. (NYSE:GIS – Get Rating) – Equities research analysts at Jefferies Financial Group boosted their Q2 2023 EPS estimates for shares of General Mills in a research note issued to investors on Thursday, November 10th. Jefferies Financial Group analyst R. Dickerson now forecasts that the company will earn $1.05 per share for the quarter, up from their prior estimate of $1.04. The consensus estimate for General Mills’ current full-year earnings is $4.08 per share. Jefferies Financial Group also issued estimates for General Mills’ Q3 2023 earnings at $0.90 EPS, Q4 2023 earnings at $1.04 EPS, FY2023 earnings at $4.10 EPS, FY2024 earnings at $4.35 EPS, Q1 2025 earnings at $1.15 EPS and FY2025 earnings at $4.60 EPS.

Several other research analysts have also recently commented on the stock. Morgan Stanley upped their target price on shares of General Mills from $66.00 to $71.00 and gave the stock an “underweight” rating in a research report on Thursday, September 22nd. The Goldman Sachs Group upped their price target on shares of General Mills from $64.00 to $71.00 and gave the stock a “sell” rating in a research note on Monday, October 10th. BMO Capital Markets upped their price target on shares of General Mills from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, September 22nd. Piper Sandler upped their price target on shares of General Mills from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, September 22nd. Finally, StockNews.com began coverage on shares of General Mills in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.38.

General Mills Price Performance

NYSE GIS opened at $79.58 on Friday. General Mills has a 52 week low of $61.41 and a 52 week high of $82.10. The company has a current ratio of 0.60, a quick ratio of 0.35 and a debt-to-equity ratio of 0.78. The stock has a market cap of $47.23 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 2.60 and a beta of 0.34. The company has a 50-day moving average price of $77.73 and a two-hundred day moving average price of $74.48.

General Mills (NYSE:GIS – Get Rating) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. General Mills had a net margin of 15.13{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on equity of 23.87{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 3.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} compared to the same quarter last year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $2.16 annualized dividend and a yield of 2.71{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. General Mills’s dividend payout ratio is presently 45.47{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

Insider Buying and Selling at General Mills

In other General Mills news, insider Shawn P. Ogrady sold 15,088 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $80.57, for a total value of $1,215,640.16. Following the transaction, the insider now owns 76,044 shares in the company, valued at approximately $6,126,865.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other General Mills news, insider Shawn P. Ogrady sold 15,088 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $80.57, for a total value of $1,215,640.16. Following the transaction, the insider now owns 76,044 shares in the company, valued at approximately $6,126,865.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 37,895 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $3,031,600.00. Following the completion of the transaction, the chief executive officer now owns 279,482 shares in the company, valued at approximately $22,358,560. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,575 shares of company stock worth $7,701,172. 0.67{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GIS. Geneva Partners LLC grew its stake in General Mills by 2.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. Geneva Partners LLC now owns 6,579 shares of the company’s stock valued at $504,000 after buying an additional 126 shares during the last quarter. Pinnacle Financial Partners Inc. grew its stake in General Mills by 0.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 27,800 shares of the company’s stock valued at $2,129,000 after buying an additional 129 shares during the last quarter. Physicians Financial Services Inc. grew its stake in General Mills by 1.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 2nd quarter. Physicians Financial Services Inc. now owns 13,353 shares of the company’s stock valued at $1,007,000 after buying an additional 131 shares during the last quarter. Archford Capital Strategies LLC grew its stake in General Mills by 1.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. Archford Capital Strategies LLC now owns 8,212 shares of the company’s stock valued at $629,000 after buying an additional 132 shares during the last quarter. Finally, West Coast Financial LLC grew its stake in General Mills by 3.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. West Coast Financial LLC now owns 3,954 shares of the company’s stock valued at $303,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 75.48{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.

About General Mills

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General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

See Also

Earnings History and Estimates for General Mills (NYSE:GIS)

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