最新ニュース General Mills (NYSE:GIS) 株価情報

General Mills

General Mills is a global packaged food company that produces snacks, cereal, convenient meals, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Pillsbury, Betty Crocker, Blue Buffalo, and Haagen-Dazs. In fiscal 2024, 81% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. Although most of General Mills' products are sold through retail stores to consumers, the company also sells products to the foodservice channel and the commercial baking industry.

General Mills Inc

Robert F. Kennedy Jr. is a vocal opponent of artificial food dyes, blaming them in part for the &#8220;chronic disease epidemic" in America. He may get the opportunity to bring major changes to the U.S. food industry under the<a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction"> incoming Trump administration.</a>&nbsp;
What To Know: President-elect Donald Trump has named Kennedy as his pick to lead the department of Health and Human Services (HHS). If confirmed by the Senate, Kennedy would oversee the Food and Drug Administration, among other federal health agencies, and may be able to effect policy changes that align with his views, which have run counter to programs widely viewed by the public health community as successes, such as water fluoridation and vaccines. 
Read Next: <a href="https://www.benzinga.com/news/global/24/11/42101365/indian-billionaire-one-of-the-worlds-richest-men-indicted-for-alleged-250-million-bribery-scheme">Indian Billionaire, One Of The World&#8217;s Richest Men, Indicted For Alleged $250 Million Bribery Scheme</a>
Kennedy has criticized the use of artificial dyes in popular cereals, snacks and beverages and noted that some dyes, like Red Dye No. 3, are banned in Europe and California due to potential health risks. Kennedy argues the U.S. food system allows many additives that are restricted in other countries to the detriment of the public's health. 
"We are betraying our children by letting these industries poison them," Kennedy said at a Trump campaign rally Nov. 2.
The potential HHS secretary has often targeted breakfast cereals in particular due to their popularity with children. 
"They get brighter colors in Froot Loops, but it's literally poisoning our kids," Kennedy told Fox News in September.&nbsp;
Froot Loops maker Kellogg said in 2015 that it was working to remove artificial colors and flavors from its branded cereals by the end of 2018, <a href="https://www.wsj.com/business/how-froot-loops-landed-at-the-center-of-u-s-food-politics-a5074e63">according</a> to the Wall Street Journal.  WK Kellogg Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) still sells cereal that contains the ingredients.
"The first thing I'd do isn't going to cost you anything because I'm just gonna tell the cereal companies: Take all the dyes out of their food," Kennedy said in October.
Kennedy's potential new role as the country's top health official has caught the attention of other food industry giants like General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>). The mega-manufacturer of processed foods released a statement after Trump announced Kennedy as his choice for the position. 
"Because this is always an evolving space, we work in close partnership with policymakers on this issue," General Mills said in the statement. "We will engage with federal regulators as they consider any additional changes they may propose."
Why It Matters: Trump has said <a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">he is ready</a> to let Kennedy "go wild on health" and he could &#8220;do pretty much what he wants&#8221; in his administration. In his announcement of his intent to nominate Kennedy as secretary of HHS, Trump said he expects him to "end the chronic disease epidemic , and to Make America Great and Healthy Again!"
"Americans have been crushed by the industrial food complex and drug companies who have engaged in deception, misinformation and disinformation when it comes to public health," Trump's announcement stated.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Trump Appears &#8216;Frustrated&#8217; As Elon Musk Chimes In On Treasury Secretary, Adds More Names To Short List&nbsp;</a></li>
</ul>
Image: Shutterstock.

Government

News

Regulations

Health Care

Politics

General

Kennedy's War On Food Dyes Could Be Coming To Your Breakfast Table

<a href="https://www.bloomberg.com/news/articles/2024-11-20/general-mills-plans-to-talk-on-food-dyes-as-pressure-from-rfk-jr-looms">https://www.bloomberg.com/news/articles/2024-11-20/general-mills-plans-to-talk-on-food-dyes-as-pressure-from-rfk-jr-looms</a>
&nbsp;

'General Mills To Engage Regulators On Food Dyes Targeted By RFK Jr.' - Bloomberg News

WIIM

MNST

Shares of beverage and packaged food stocks are trading lower after president-elect Trump indicated he would nominate Robert F. Kennedy Jr. to lead the HHS.

Wells Fargo analyst Chris Carey maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Equal-Weight and lowers the price target from $77 to $70.

Price Target

Analyst Ratings

Wells Fargo Maintains Equal-Weight on General Mills, Lowers Price Target to $70

General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) disclosed a deal to acquire Whitebridge Pet Brands&#8217; North American premium cat feeding and pet treating business from NXMH for $1.45 billion.
The acquisition includes the Tiki Pets and Cloud Star brands, which are leaders in the $24 billion cat feeding and pet treating segments of the $52 billion U.S. pet food market.
The North American Whitebridge Pet Brands business generated approximately&nbsp;$325 million&nbsp;in U.S. Nielsen-measured retail sales in the past twelve months, predominantly in the pet specialty and E-commerce channels.&nbsp;
General Mills plans to fund the acquisition with cash on hand and new debt. This transaction aligns with General Mills&#8217; Accelerate strategy, aiming to enhance growth in core markets and global platforms.
Also, as part of the deal, General Mills will take over two manufacturing facilities in Joplin, Missouri. NXMH will retain Whitebridge Pet Brands&#8217; European operations and brands.
The transaction is expected to close in the third quarter of fiscal 2025, pending regulatory approval and other customary closing conditions.
Jon Nudi, group president, North America Pet, International, and North America Foodservice, General Mills said, &#8220;These brands complement our Blue Buffalo portfolio and will help us incrementally grow in Cat feeding and Treats. We&#8217;re excited to welcome the North American Whitebridge team to General Mills and to provide pet parents with an expanding portfolio of brands to feed and treat their pets like family.&#8221;
In September, the company signed definitive agreements to sell its North American yogurt business to Lactalis and Sodiaal, leading&nbsp;French dairy companies,<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40836990/general-mills-offloads-us-canadian-yogurt-divisions-in-2-1b-deal-amid-competition-and-market-cha" rel="noreferrer noopener"> for a total of $2.1 billion</a>.
As of August 25, the company had cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40915872/general-mills-reports-fiscal-2025-first-quarter-results" rel="noreferrer noopener">cash equivalents of $468.1 million</a>.
Investors can gain exposure to the stock via&nbsp;Invesco Food &amp; Beverage ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBJ#NYSE">PBJ</a>) and First Trust Nasdaq Food &amp; Beverage ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXG#NASDAQ">FTXG</a>).
Price Action: GIS shares are up 0.60% at $65.62 at the last check Thursday.
Photo by huoadg5888 via <a href="https://pixabay.com/photos/pets-cat-dog-animals-mammals-3715733/">Pixabay</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40917491/general-mills-faces-q1-mixed-results-earnings-win-sales-drop-and-big-bets-on-2025-rebound" target="_blank" rel="noreferrer noopener">General Mills Faces Mixed Q1 Results: Earnings Win, Sales Drop, And Big Bets On 2025 Rebound</a></li>
</ul>

Equities

Large Cap

FTXG

General Mills Dives Deeper Into Pet Market With This $1.45 Billion Acquisition: Details

The business, which includes the Tiki Pets and Cloud Star portfolio of brands, is a growth leader in the Cat feeding and Pet treating segments, which collectively make up $24 billion in retail sales within the broader $52 billion U.S. pet food category.&nbsp;
General Mills intends to fund the acquisition with cash on hand and new debt. The transaction is anticipated to close in the third quarter of fiscal 2025, subject to regulatory approval and other customary closing conditions.
 &nbsp;

General Mills Agrees To Acquire Whitebridge Pet Brands' North American Premium Cat Feeding And Pet Treating Business From NXMH In Transaction Valued At $1.45B

JP Morgan analyst Ken Goldman maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Neutral and raises the price target from $63 to $67.

JP Morgan Maintains Neutral on General Mills, Raises Price Target to $67

<a href="https://www.cnbc.com/2024/10/07/sen-elizabeth-warren-and-rep-madeleine-dean-demand-food-and-beverage-ceos-put-a-stop-to-shrinkflation.html">https://www.cnbc.com/2024/10/07/sen-elizabeth-warren-and-rep-madeleine-dean-demand-food-and-beverage-ceos-put-a-stop-to-shrinkflation.html</a>
&nbsp;
Two Democratic lawmakers are demanding that some of the biggest food and beverage companies stop engaging in "shrinkflation" — the practice of reducing product sizes while charging prices that are the same or higher.
In pointed letters, Sen. Elizabeth Warren of Massachusetts and Rep. Madeleine Dean of Pennsylvania accused General Mills, Coca-Cola and PepsiCo of engaging in a "pattern of profiteering" through shrinkflation and by "dodging taxes." The letters, sent Sunday afternoon and shared first with NBC News, cite tactics the companies have used in recent years to increase their bottom lines.
&nbsp;
General Mills, for example, reduced the sizes of many cereal boxes in 2021, "including decreasing ‘Family Size' Cocoa Puffs from 19.3 ounces to 18.1 ounces while charging the same price," the letter to General Mills Chairman and CEO Jeff Harmening read. It added: "Then, from mid-2021 to mid-2022, General Mills hiked prices five times, and in 2023, your Group President of North American Retail bragged that the company was ‘getting smart about how we look at pricing.'"
Coca-Cola has downsized its products, too, said the letter to Chairman and CEO James Quincey, and it is "selling less soda for the same price." The same with PepsiCo, which "replaced its 32 oz Gatorade bottle with a 28 oz bottle for the same price."
"Shrinking the size of a product in order to gouge consumers on the price per ounce is not innovation, it is exploitation," the letter to PepsiCo head Ramon Laguarta read.
Spokespeople for General Mills, Coca-Cola and PepsiCo did not immediately respond to requests for comment. PepsiCo has denied changing bottle sizes for profit; a spokesperson&nbsp;<a href="https://www.nbcnews.com/business/consumer/walmart-chipotle-higher-prices-criticism-rcna160713">told CNBC in July</a>&nbsp;that the 28-fluid-ounce bottle of Gatorade has existed for over a decade and that selling it more widely was part of the company's long-term strategy, not a response to the current economic environment. Coca-Cola has explained its smaller bottles as a&nbsp;<a href="https://www.modernretail.co/operations/shrinkflation-is-boosting-coca-colas-bottom-line/">way to offer lower price points</a>&nbsp;to budget-conscious consumers.
Regardless, Warren and Dean also accused the companies of funding lobbying for&nbsp;<a href="https://www.americanprogress.org/article/the-tax-cuts-and-jobs-act-failed-to-deliver-promised-benefits/">Republican-led corporate tax breaks</a>&nbsp;in 2017 that promised a trickle-down effect but instead "incentivized price gouging" because "corporations raised prices to pad their profits, knowing that lower corporate tax cuts meant they would get more back on each dollar of price increase," all three letters said.
&nbsp;
Citing a February analysis from the nonprofit&nbsp;<a href="https://sfo2.digitaloceanspaces.com/itep/ITEP-Corporate-Tax-Avoidance-in-the-First-Five-Years-of-the-Trump-Tax-Law.pdf">Institute on Taxation and Economic Policy</a>, the letter to General Mills said that in the first five years following the 2017 tax cuts, General Mills paid an average effective tax rate of 14.8% on its $12 billion in profits — a lower tax rate than many working individuals pay. Coca-Cola paid 13.5% in federal income taxes on its $13.4 billion in profits for the same time frame, the letter to its CEO said, while PepsiCo made $22.4 billion in profits during those years and paid an average effective tax rate of 15%.
"People have noticed that their box of Cheerios and bag of Doritos are smaller, but prices are higher — and at the same time these giant corporations are paying lower tax rates than the average American," Warren said in a statement to NBC News. "We can't let them get away with this price gouging and tax dodging. It's just plain wrong, and we're fighting back."
Shrinking consumer goods extend beyond soda and cereal.&nbsp;<a href="https://www.mouseprint.org/">MousePrint.org</a>, a website that tracks retail products, has been highlighting items that have&nbsp;<a href="https://www.mouseprint.org/category/downsiz/">gone down in size but not in price</a>, including a pack of razors that once contained 36 razors and now is down to 30 and a bag of almonds that went from 30 ounces to 25.
President Joe Biden has mentioned shrinkflation numerous times, declaring it a "rip-off" in a&nbsp;<a href="https://x.com/POTUS/status/1756713597864988940?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1756713597864988940%7Ctwgr%5E2d8d6b2fdb9f6e2dac3d653d03c08b26020eb18f%7Ctwcon%5Es1_&amp;amp;ref_url=https%3A%2F%2Fwww.foxbusiness.com%2Fpolitics%2Fpresident-biden-slams-shrinkflation-in-super-bowl-sunday-video">video he posted to X</a>. In his State of the Union address this year, he urged Congress to pass a&nbsp;<a href="https://www.casey.senate.gov/news/releases/stop-shrinkflation-casey-introduces-legislation-to-crack-down-on-big-corporations-shrinking-products-without-reducing-prices">bill that would</a>&nbsp;crack down on shrinkflation by regulating it as unfair or deceptive.
&nbsp;
Even Cookie Monster has opined on downsized products,&nbsp;<a href="https://x.com/MeCookieMonster/status/1764692032914690276?lang=en">lamenting on X</a>&nbsp;in March: "Me hate shrinkflation! Me cookies are getting smaller."
But to manufacturers looking to grow profit, especially in times of inflation as the costs of packaging materials and ingredients rise, reducing product size is often seen as a better move than upping prices, said Nailya Ordabayeva, an associate professor of marketing at the Boston University Questrom School of Business.
"Final price increases draw much bigger backlash than volume decreases," she said. "So, between the two evils, the downsizing becomes a preferred option."
That having been said, when shoppers notice that they have paid the same amount for less, particularly if it's something they consume regularly compared with an indulgent item they buy only once in a while, "at that point they get upset," Ordabayeva said.
But consumer frustration has not stopped shrinkflation. A&nbsp;<a href="https://www.casey.senate.gov/imo/media/doc/shrinkflation_report.pdf">report in December</a>&nbsp;by Casey's office found that household products like toilet paper and paper towels were 34.9% more expensive per unit than in January 2019, with 10.3% of the price increase due to producers' shrinking the sizes of rolls and packages. Meanwhile, snacks such as Oreos and Doritos had become 26.4% more expensive since January 2019, with 9.8% of the increase "accomplished by giving families fewer chips and cookies for their dollar," the report said.
Sarah Gallo, senior vice president of federal affairs at Consumer Brands Association, a trade group that Coca-Cola, PepsiCo and General Mills all belong to, defended industry practices to NBC News.
She cited&nbsp;<a href="https://www.frbsf.org/research-and-insights/publications/economic-letter/2024/05/are-markups-driving-ups-and-downs-of-inflation/#toc_Potential-drivers-of-inflation--Production-costs-and-markups">an inflation report</a>&nbsp;the Federal Reserve Bank of San Francisco released in May that found that "aggregate markups over the past three years are not unusual compared with previous economic recoveries, countering the misleading attacks on the industry."
"The industry remains focused on providing the best products at the most competitive price to consumers," she said in a statement.
The letters from Warren and Dean requested three pieces of information: the average price the corporations charged per ounce of soda or per ounce of cereal every year since 2018, how much more in federal taxes they would have paid had the 2017&nbsp;<a href="https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver">Tax Cuts and Jobs Act</a>&nbsp;not been in effect and whether company executives received bonuses or other incentives during periods of high inflation.
Dean said the letters were sent to "ease the wrongful burden" the companies are imposing on consumers.
"Even as our economy recovers from the pandemic, people are still hurting from high prices at the grocery store,'" Dean said in a statement to NBC News. "Charging more for products, like cereal, while reducing their size means that Americans are paying more for less and big corporations are paying less than their fair share in taxes."

Macro Economic Events

Economics

"Sen. Elizabeth Warren And Rep. Madeleine Dean Demand Food And Beverage CEOs Put A Stop To 'Shrinkflation'" - CNBC

General Mills (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gis#NYSE">GIS</a>) can provide a hedge if volatility continues to plague the S&amp;P 500. The company is amid a business transformation telegraphed in its price action, which is set up for a significant reversal after more than a year of lackluster performance.&nbsp;
The transformation includes selling its yogurt business, which will lighten the portfolio and shore up the fortress balance sheet. This will allow management to focus on core markets, international growth, and local gems that drive margin while providing steady capital returns.&nbsp;
The bonus is the stock beta. General Mills has trades with a 5-year beat of 0.1 and a 2-year beta of -.2, suggesting little to no correlation to the&nbsp; S&amp;P 500; if the broad market falls, General Mills trends will be unaffected and may even get an added boost from a flight to safety.&nbsp;
<h2>General Mills Post Earnings Dip Is A Buying Opportunity That Won&#39;t Last Long</h2>
General Mills share prices fell following the FQ1 release, opening a buying opportunity that will likely last only a short time. The results and guidance were good, with Q1 performance being better than expected, and guidance was reaffirmed. The problem is that Q1 strength didn&#39;t carry through to the guidance, suggesting the remainder of the year could be tepid relative to expectations. However, the $4.85 billion in revenue is down only 1% compared to last year, outperforming by 100 basis points, and aligns with the outlook for turnaround, resumed organic growth, and capital returns, which counts over the long term.&nbsp;&nbsp;
The margin news is just as mixed, with margins contracting but less than expected, leaving earnings down compared to last year but better than forecast. The salient detail is that although net earnings are down 14%, the $580 million is sufficient to sustain the fortress balance sheet and the capital return. The $1.07 in adjusted earnings gives a 55% quarterly dividend payout ratio, which is sustainable and expected to improve as the year progresses. It also leaves room for share repurchases, which have been aggressive.&nbsp;
The guidance is good enough. The company forecasts sequential improvement in revenue and earnings and YOY organic growth to return by the end of the year, not including the sale of the yogurt business. That is expected to close in 2025 and will impact reported results for the following twelve months by approximately 3% on a diluted basis.&nbsp;
<h2>General Mills Capital Return Is Top-Tier and Expected to Accelerate</h2>
General Mills&#39; financial condition is rock solid and allows for substantial capital return,&nbsp;including dividends and share buybacks. The dividend is attractive at 3.25% and only 16x earnings, a high-yield value compared to the broad market and leading consumer staples peers like Hormel (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrl#NYSE">HRL</a>), Hershey (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsy#NYSE">HSY</a>), and Kellanova (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/k#NYSE">K</a>), which trade at 20x, 21x, and nearly 22x their earnings outlooks, respectively.&nbsp;
Balance sheet highlights from Q1 include reduced cash, increased debt, and reduced equity, but repurchases and treasury stock offset those factors. The company repurchased $300 million of shares during the quarter, reducing the average count by 4.65% year over year and increasing the treasury holdings by nearly 20%. Repurchases have slowed compared to last year due to the contraction of revenue and earnings, and they may not accelerate soon. However, buybacks are likely to continue at a float-reducing pace through the year&#39;s end, and the company plans to use proceeds from the yogurt sale to boost activity once closed.&nbsp;
<h2>General Mills Share Price Supported by an Expectation for Lower Interest Rates</h2>
General Mills&#39; share price has steadily risen since mid-July, when the CPI report sparked a massive broad-market sell-off after signaling a high probability that the FOMC would lower interest rates this year. The signal is that risk-off investment dollars, once focused on higher-yielding bonds, have turned to quality dividend growth stocks like General Mills, which still present value and yield for investors today.&nbsp;
The technical action since July suggests a double-bottom reversal pattern is now in play, and price action has retreated to a critical support target. The critical target is the 30-day EMA, which aligns with highs earlier this year. If support is confirmed at this level, investors can expect GIS stock to continue higher and complete the reversal by year&#39;s end. If not, GIS stock could fall to the $70 level or lower before hitting solid support.&nbsp;
<img alt="General Mills GIS stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240918104246_chart-gis-9182024.png" style="height:426px; width:917px" />
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/why-general-mills-is-the-perfect-hedge-for-s-and-p-500-volatility/">Why General Mills Is the Perfect Hedge for S&amp;P 500 Volatility</a>&quot; first appeared on MarketBeat.

Earnings

Guidance

Dividends

Technicals

Buybacks

Markets

Trading Ideas

Why General Mills Is the Perfect Hedge for S&P 500 Volatility

TD Cowen analyst Robert Moskow maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Hold and raises the price target from $72 to $75.

TD Cowen Maintains Hold on General Mills, Raises Price Target to $75

Barclays analyst Andrew Lazar maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Equal-Weight and raises the price target from $67 to $74.

Barclays Maintains Equal-Weight on General Mills, Raises Price Target to $74

Citigroup analyst Thomas Palmer maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Neutral and lowers the price target from $76 to $75.

Citigroup Maintains Neutral on General Mills, Lowers Price Target to $75

Stifel analyst Matthew Smith maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Buy and raises the price target from $70 to $82.

Stifel Maintains Buy on General Mills, Raises Price Target to $82

RBC Capital analyst Nik Modi reiterates General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Sector Perform and maintains $70 price target.

Reiteration

RBC Capital Reiterates Sector Perform on General Mills, Maintains $70 Price Target

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Needham raised the price target for SS&amp;C Technologies Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSNC#NASDAQ">SSNC</a>) from $81 to $90. Needham analyst Mayank Tandon maintained a Buy rating. SS&amp;C Technologies shares fell 0.2% to close at $75.36 on Wednesday. <a href="https://www.benzinga.com/quote/ssnc/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley cut the price target for Elanco Animal Health Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) from $17 to $15. Morgan Stanley analyst Erin Wright downgraded the stock from Overweight to Equal-Weight. Elanco Animal Health shares gained 2.5% to close at $14.65 on Wednesday. <a href="https://www.benzinga.com/quote/elan/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Mizuho slashed Athira Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATHA#NASDAQ">ATHA</a>) price target from $5 to $0.5. Mizuho analyst Graig Suvannavejh downgraded the stock from Outperform to Neutral. Athira Pharma shares fell 4.7% to close at $0.4630 on Wednesday. <a href="https://www.benzinga.com/quote/atha/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Bernstein cut NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) price target from $112 to $109. Bernstein analyst Aneesha Sherman maintained an Outperform rating. NIKE shares gained 0.3% to close at $80.90 on Wednesday. S<a href="https://www.benzinga.com/quote/NKE/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Loop Capital boosted the price target for Aspen Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZPN#NASDAQ">AZPN</a>) from $204 to $260. Loop Capital analyst Mark Schappel maintained a Buy rating. Aspen Technology rose 1.1% to close at $236.00 on Wednesday. <a href="https://www.benzinga.com/quote/AZPN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho increased Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) price target from $22 to $25. Mizuho analyst Ben Chaiken maintained an Outperform rating. Carnival shares rose 1.8% to close at $18.36 on Wednesday. <a href="https://www.benzinga.com/quote/CCL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Pivotal Research raised Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) price target from $460 to $510. Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating. Spotify shares gained 0.5% to close at $343.97 on Wednesday. <a href="https://www.benzinga.com/quote/SPOT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler increased the price target for General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) from $74 to $84. Piper Sandler analyst Michael Lavery maintained an Overweight rating. General Mills shares rose 0.7% to close at $75.01 on Wednesday. <a href="https://www.benzinga.com/quote/GIS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler raised Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) price target from $23 to $27. Piper Sandler analyst Patrick Moley maintained an Overweight rating. Robinhood shares rose 1.4% to close at $22.95 on Wednesday. <a href="https://www.benzinga.com/quote/HOOD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Oppenheimer raised T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) price target from $200 to $215. Oppenheimer analyst Timothy Horan maintained an Outperform rating. T-Mobile shares fell 3% to close at $196.68 on Wednesday. <a href="https://www.benzinga.com/quote/TMUS/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying Robinhood stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="512" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153-1024x512.png" alt="" class="wp-image-556095" style="width:628px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153-1024x512.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153-768x384.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19082758/image-153.png 1335w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40925678/fedex-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-an">FedEx Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Pre-Market Outlook

ATHA

AZPN

ELAN

HOOD

SPOT

SSNC

TMUS

Robinhood To Rally Around 18%? Here Are 10 Top Analyst Forecasts For Thursday

Piper Sandler analyst Michael Lavery maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Overweight and raises the price target from $74 to $84.

Piper Sandler Maintains Overweight on General Mills, Raises Price Target to $84

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, with the index in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled lower on Wednesday, following the Federal Reserve&#8217;s interest rate decision. The U.S. central bank slashed interest rates by 50 basis points Wednesday at its September Federal Open Market Committee meeting, lowering the federal funds rate to a range of 4.75% to 5%. This marks the first rate cut in over four years and breaks a streak of 12 consecutive months with rates held steady.
On the economic data front, housing starts in the U.S. climbed by 9.6% from the prior month to an annualized rate of 1.356 million units for August. U.S. building permits gained by 4.9% to an adjusted annual rate of 1.475 million in August.
General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) reported better-than-expected earnings for its first quarter on Wednesday.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer staples, utilities, and information technology stocks recording the biggest losses on Wednesday. However, energy and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 104 points to 41,503.10 on Wednesday. The S&amp;P 500 fell 0.29% to 5,618.26, while the Nasdaq Composite fell 0.31% at 17,573.30 during Wednesday's session.
Investors are awaiting earnings results from Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>), FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>), and FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 56.2, the index was in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 55.9.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40927530/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>

Dow Tumbles Over 100 Points Following Fed's Rate Decision: Fear & Greed Index In 'Greed' Zone

U.S. stocks traded mixed this morning, with the Dow Jones index falling over 50 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.17% to 41,536.53 while the NASDAQ rose 0.14% to 17,653.56. The S&amp;P 500 also fell, dropping, 0.01% to 5,634.39.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/09/40917630/how-to-earn-500-a-month-from-darden-restaurants-stock-ahead-of-q1-earnings">How To Earn $500 A Month From Darden Restaurants Stock Ahead Of Q1 Earnings</a>
Leading and Lagging Sectors Energy shares jumped by 0.3% on Wednesday.
In trading on Wednesday, health care shares fell by 0.2%.
Top Headline
General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) reported better-than-expected earnings for its first quarter on Wednesday.
The company reported first-quarter adjusted earnings per share of $1.07 (down 2%), beating the street view of $1.06. Quarterly revenues of $4.85 billion outpaced the analyst consensus estimate of $4.801 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Portage Biotech Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTG#NASDAQ">PRTG</a>) shares shot up 185% to $12.92 after jumping around 15% on Tuesday.</li>
<li>Shares of Odyssey Marine Exploration, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMEX#NASDAQ">OMEX</a>) got a boost, surging 126% to $1.12 after declining around 89% on Tuesday.</li>
<li>Webuy Global Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBUY#NASDAQ">WBUY</a>) shares were also up, gaining 97% to $0.2294. Webuy Global, on Tuesday, reported a year-over-year increase in interim H1 revenue results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Galmed Pharmaceuticals Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLMD#NASDAQ">GLMD</a>) shares dropped 34% to $9.98 after jumping 290% on Tuesday.</li>
<li>Shares of BurgerFi International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFI#NASDAQ">BFI</a>) were down 29% to $0.1651. BurgerFi recently received interim approval for $3.5 million in financing to support 144 locations during its restructuring.</li>
<li>Cibus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBUS#NASDAQ">CBUS</a>) was down, falling 23% to $3.90 after the company announced the pricing of $12 million offering of 3 million shares at $4.00 per share.</li>
</ul>
Commodities In commodity news, oil traded down 0.7% to $70.70 while gold traded up 0.4% at $2,603.60.
Silver traded up 0.1% to $30.98 on Wednesday, while copper rose 0.6% to $4.2965.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.35%, Germany's DAX rose 0.08% and France's CAC 40 fell 0.40%. Spain's IBEX 35 Index fell 0.13%, while London's FTSE 100 fell 0.61%.
Annual inflation rate in the Eurozone fell to 2.2% in August, recording the lowest level since July 2021, compared to 2.6% in the prior month. Construction output in the Eurozone fell by 2.2% year-over-year in July compared to a revised 1.3% decline in the previous month.
Annual inflation rate in the UK came in unchanged at 2.2% in August, in line with estimates, while producer prices increased 0.2% year-over-year in August.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.49%, China's Shanghai Composite Index gaining 0.49% and India's BSE Sensex falling 0.16%.
Japanese trade deficit shrank to JPY 695.30 billion in August from JPY 940.10 billion in the year-earlier month, and versus market expectations of a JPY 1,380 billion gap.
Economics
<ul>
<li>U.S. mortgage applications surged by 14.2% from the prior week in the week ending Sept. 13.</li>
<li>Housing starts in the U.S. climbed by 9.6% from the prior month to an annualized rate of 1.356 million units for August.</li>
<li>U.S. building permits gained by 4.9% to an adjusted annual rate of 1.475 million in August.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40917190/jim-cramer-labels-moderna-a-big-disappointment-but-suggests-doubling-down-on-another-pha">Jim Cramer Labels Moderna A &#8216;Big Disappointment,&#8217; But Suggests Doubling Down On Another Pharma Powerhouse</a></li>
</ul>

Eurozone

Commodities

Intraday Update

CBUS

GLMD

OMEX

PRTG

WBUY

US Stocks Mixed; General Mills Posts Upbeat Earnings

General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) shares are trading<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> marginally lower on Wednesday.</a>
The company reported first-quarter adjusted earnings per share of $1.07 (down 2%), <a href="https://www.benzinga.com/pressreleases/24/09/b40915872/general-mills-reports-fiscal-2025-first-quarter-results" target="_blank" rel="noreferrer noopener">beating the street view of $1.06</a>. Quarterly revenues of $4.85 billion outpaced the analyst consensus estimate of $4.801 billion.
The quarterly earnings were affected by lower adjusted operating profit, higher net interest expense, and a higher adjusted effective tax rate.
Net sales fell by 1%, while organic net sales also decreased by 1%, driven by unfavorable organic net price realization and mix.
&#8220;We strengthened our core by delivering more remarkable experiences to consumers, which translated into improved volume, net sales, and market share trends versus the previous quarter,&#8221; said General Mills Chairman and Chief Executive Officer Jeff Harmening.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40836990/general-mills-offloads-us-canadian-yogurt-divisions-in-2-1b-deal-amid-competition-and-market-cha" rel="noreferrer noopener">General Mills Offloads US, Canadian Yogurt Divisions In $2.1B Deal Amid Competition And Market Challenges: Details</a>
Operating profit fell to $832 million, representing an 11% decrease, and adjusted operating profit was $865 million, down 4% when measured in constant currency.
Adjusted gross margin of 35.4% of net sales essentially matched year-ago results, with benefits from HMM cost savings offset by input cost inflation and unfavorable net price realization and mix.
General Mills recently announced that it has entered into definitive agreements to sell its North American Yogurt business to Lactalis and Sodiaal, two leading French dairy companies, in cash <a target="_blank" href="https://www.benzinga.com//node/40836990" rel="noreferrer noopener">transactions valued at an aggregate $2.1 billion.&nbsp;</a>
Outlook: General Mills has reaffirmed its financial targets for fiscal 2025, expecting organic net sales to range from flat to an increase of 1%, while adjusted diluted EPS is <a href="https://www.benzinga.com/calendars/guidance">anticipated to fluctuate between a decrease of 1% and an increase of 1% in constant currency.</a>
General Mills expects volume trends in its categories will gradually improve in fiscal 2025, though full-year category dollar growth is expected to be below the company&#8217;s long-term growth projections.
The company said it expects to reinvest potential margin flexibility back into the business, including plans for a significant increase in brand-building investment in fiscal 2025 to drive improved volume performance.
Price Action: GIS shares are trading lower by 1.34% to $73.50 premarket at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40915551/wall-street-on-edge-as-traders-look-forward-to-feds-first-rate-cut-in-4-5-years-strategist-says-thi" target="_blank" rel="noreferrer noopener">Wall Street On Edge As Traders Look Forward To Fed&#8217;s First Rate Cut In 4.5 Years: Strategist Says This Will Dictate How Stocks Perform Longer Term</a></li>
</ul>

Movers

General Mills Faces Mixed Q1 Results: Earnings Win, Sales Drop, And Big Bets On 2025 Rebound

General Mills Says It Expects Volume Trends In Its Categories To Gradually Improve In Fiscal 2025, Though Full-year Category Dollar Growth Is Expected To Be Below Company's Long-term Growth Projections

17:04 EST General Mills (GIS) files automatic mixed securities shelf Published first on TheFly – the ultimate source for real-time, market-moving b...

General Mills files automatic mixed securities shelf

General Mills declares $0.60 dividend

Hain Celestial: An Interesting Turnaround Bet

General Mills (GIS) is planning to engage federal officials over potential restrictions on food dyes that it uses in some of its cereals, as Robert...

General Mills to engage regulators over food dyes, Bloomberg reports

General Mills to engage with regulators to head off RFK-led food dye restrictions

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: Nvidia (NVDA) reported Q3 results that...

Nvidia reports Q3 beat, Starbucks explores China partnerships: Morning Buzz

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President-...

Trump Trade: Transition team weighing White House crypto role

Dividend Roundup: General Mills, Halliburton, Johnson & Johnson, Coca-Cola, and others

LGLV: Another Low-Volatility ETF With A 'Sharpe' Problem

Jane's October 2024 Retirement Income Update: Let The Capital Rotation Begin

ADNT

AILIH

AILIM

AILIN

AILIO

AILIP

AILLI

AILLM

AILLN

AILLO

AILLP

ATKR

AXON

BABA

BITF

BTBT

COIN

COLD

CORZ

CRKN

CRNC

DANOY

DUKB

FDLO

GOOG

GOOGL

GPDNF

GREE

HAIN

JACK

KURA

KYKOF

LGLV

MARA

MSTR

NSRGF

NSRGY

NVDA

ONEV

ONON

PANW

RIOT

SBUX

SDIG

SNOW

SPLV

ULTA

USMV

VNET

VOYA

WELPM

WELPP

WULF

XPEV

Press Releases

Annie's Cooks Up New 'Now Cheesier' Mac & Cheese Recipe, More Smiles Are the Key to Unlocking Free Mac

General Mills Announces Agreements to Sell Its North American Yogurt Business to Lactalis and Sodiaal

REESE'S PUFFS Cereal Teams up with All-Star Angel Reese to Release Limited Edition Cereal and Teases Upcoming Fashion Collab

General Mills Reports Fiscal 2025 First-quarter Results

General Mills Quarterly Dividend Declared

Totino's™ Pizza Rolls™ partners with Tim Robinson and Sam Richardson for a comedic take on the Value of 10 Pizza Rolls for About $1*

The Watt Brothers Prove Anything Can Taco with Old El Paso™ After Going Head-To-Head in Game-Day Taco Competition

General Mills Advances Accelerate Strategy with Acquisition of Whitebridge Pet Brands' North American Premium Cat Feeding and Pet Treating Business

Donna Kelce and the Pillsbury Doughboy Crown the 52nd Pillsbury Bake-Off™ Contest Winners with Festive Debut of Holiday Recipes

Conagra Brands

Cal-Maine Foods

The Campbell`s

Flowers Foods

Freshpet

Hormel Foods

Hershey

J&J Snack Foods

Kellanova

Kraft Heinz

Lancaster Colony Corporation - Common Stock

Lancaster Colony

Lamb Weston Hldgs

Mondelez International, Inc. - Class A Common Stock

Mondelez International

McCormick & Company, Incorporated Common Stock

McCormick & Co

Nomad Foods

Post Holdings

Pilgrim's Pride Corporation - Common Stock

Pilgrims Pride

Seaboard

JM Smucker

The Simply Good Foods Company - Common Stock

Simply Good Foods

Treehouse Foods

Tootsie Roll Industries, Inc. Common Stock

Tootsie Roll Industries

Tyson Foods

Wells Fargo

JP Morgan

TD Cowen

Barclays

Piper Sandler

Comments

General Mills

ニュース

最新ニュース General Mills (NYSE:GIS) 株価情報

こんな人も見ています

ニュース

パートナーシップ

ベンジンガ・グローバル