General Mills, Inc.
) 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
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.
) - Zacks Rank #1 (Strong Buy) and
ConAgra Foods, Inc.
), with a Zacks Rank #2 (Buy).
CONAGRA FOODS (CAG): Free Stock Analysis
GENL MILLS (GIS): Free Stock Analysis Report
J&J SNACK FOODS (JJSF): Free Stock Analysis
KELLOGG CO (K): Free Stock Analysis Report
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