General Mills Stock Price, News & Analysis

Box Tops for Education and Yoplait are providing $20,000 to two Los Angeles schools: ICEF View Park Middle School and Jefferson Elementary. Each school receives $10,000 to support educational programs such as STOKED and Playworks, which focus on leadership and life skills. Additionally, both schools received equipment for their programs. Over the past 25 years, Box Tops has contributed nearly $1 billion to schools in the U.S., emphasizing its commitment to help those in need. More information can be found on the Box Tops website.

The General Mills Board has declared a quarterly dividend of $0.51 per share, to be paid on November 1, 2021, to shareholders of record by October 8, 2021. General Mills has maintained a consistent dividend payment for 123 years. In fiscal 2021, the company reported net sales of $18.1 billion, with an additional $1.1 billion from non-consolidated joint ventures. This continued commitment to dividends reflects General Mills' strategy to enhance shareholder value and its strong financial performance.

General Mills (NYSE: GIS) reported a 4% increase in net sales to $4.5 billion for the first quarter ending August 29, 2021. However, operating profit declined 1% to $844 million, with diluted EPS down 1% to $1.02. The company reaffirms its full-year fiscal 2022 outlook, anticipating organic net sales to decline 1-3%. The acquisition of Tyson Foods' pet treats business is expected to add approximately 2 cents to adjusted EPS. Various segments, including Pet and Convenience Stores, showed strong sales growth amid evolving consumer behaviors due to the pandemic.

General Mills' Box Tops for Education program is partnering with retailers to help schools in need by offering promotional incentives. Shoppers can earn 50 Bonus Box Tops, worth $5, when purchasing five qualifying items at Target by September 30. The program supports Black Men Teach, which focuses on recruiting Black male teachers in Minnesota. At a recent back-to-school event, Box Tops donated Target gift cards and announced a four-year commitment of $500,000 to support educational equity. This initiative aims to relieve teachers' financial burdens and enhance community support.

General Mills (NYSE: GIS) held a presentation at the 2021 Barclays Global Consumer Staples Conference, outlining its North America Retail and Pet business segments and updating its fiscal 2022 outlook. Key priorities include executing the Accelerate strategy, managing costs, and reorganizing its portfolio. The company anticipates organic net sales to decline 1-3% and adjusted EPS to be near the higher end of previous estimates. The acquisition of Tyson Foods' pet treats is expected to boost EPS by approximately 2 cents. Free cash flow conversion remains at approximately 95% of adjusted earnings.

General Mills has partnered with Tinashe to launch the RP-FX and RP-PRO music boxes, promoting music education. The initiative includes a $100K donation to Save The Music Foundation to enhance accessibility to music for students. Tinashe will host a live YouTube class on music production on September 2, 2021, at 1 p.m. ET. The RP-FX and RP-PRO are now available for $3.99 in stores, allowing fans to create music and participate in a giveaway for a signed synthesizer. This collaboration underscores General Mills’ commitment to the arts and innovation.

Cinnamon Toast Crunch is launching a promotional giveaway of up to two million boxes throughout September. Customers can receive a rebate of up to $6.55 on any flavor by submitting a receipt by October 31. This offer is aimed at providing a cost-effective breakfast option for families as they return to their school routines. The promotion includes various Cinnamon Toast Crunch flavors but is limited to one box per household and is void in certain locations. More details can be found at FreeCTC.com.

General Mills, Inc. (NYSE: GIS) is set to report its fiscal 2022 first quarter results on September 22, 2021. A press release, management remarks, and supportive slides will be available on the same day, along with a webcast Q&A at 8:00 a.m. CT. For access, interested parties can visit www.generalmills.com/investors. The company generated $18.1 billion in net sales for fiscal 2021, with an additional $1.1 billion from non-consolidated joint ventures, focusing on brand building and innovation to drive shareholder value.

The Old El Paso™ #MessFreeChallenge has transitioned to a basketball theme in its second year, focusing on combating food insecurity across the U.S. and Canada. With 1 in 4 U.S. households and 1 in 8 in Canada facing food scarcity, basketball stars like Andre Drummond and Andrew Wiggins are leading the initiative. They encourage fans to contribute alongside General Mills, which has pledged a $15,000 donation to Feeding America and Canadian food banks. Last year's campaign resulted in over 100,000 meals donated, with aspirations to increase that number this year.