General Mills (GIS) closed at $64.21 in the latest trading session, marking a -1.22% move from the prior day. This change lagged the S&P 500's daily gain of 0.17%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.37%.Shares of the maker of Cheerios cereal, Yoplait yogurt and other packaged foods have appreciated by 1.15% over the course of the past month, underperforming the Consumer Staples sector's gain of 1.61% and the S&P 500's gain of 3.8%.The investment community will be clos ...

General Mills, Inc. (NYSE:GIS) 2024 CAGNY Virtual Conference Call Summary Company Overview - General Mills is a $20 billion company with nine iconic billion-dollar brands, recognized as the number one provider of natural and organic packaged foods in the U.S. [7][10] - The company has a strong commitment to brand building, innovation, and digital capabilities, supported by a robust supply chain and margin management program [2][5]. Core Messages from the Conference 1. **Accelerate Strategy**: The strategy has driven strong results and returns for shareholders, focusing on long-term sustainable growth despite short-term headwinds [5][6]. 2. **Investment in Brands**: Continued investment in leading brands and capabilities is essential for delivering long-term growth [5][12]. 3. **Positioning for Growth**: General Mills is well-positioned to translate growth into top-tier value creation for shareholders [5][6]. Financial Performance - Between fiscal 2018 and fiscal 2023, General Mills achieved: - 5% compound annual growth in organic net sales - 6% growth in constant currency adjusted operating profit - 7% growth in constant currency adjusted diluted EPS [11]. - For fiscal 2024, the company expects organic net sales to range between -1% and flat, with adjusted operating profit and diluted EPS growth of 4% to 5% in constant currency [12]. Market Dynamics - Current challenges include slow industry volume recovery and competitive headwinds from smaller competitors [11][12]. - Positive indicators include moderating inflation, improved supply chain conditions, and rising consumer confidence [13]. Strategic Focus Areas 1. **Product Platforms**: Focus on five global platforms (cereal, pet food, snack bars, Mexican food, and ice cream) that account for approximately 50% of worldwide net sales [9]. 2. **Geographic Priorities**: North America is the primary market, representing about 85% of fiscal 2023 net sales, with additional focus on China, Brazil, the UK, France, Australia, and India [9]. 3. **Portfolio Reshaping**: Nearly 20% of the net sales base has been reshaped since fiscal 2018, enhancing growth exposure [10]. Innovation and Brand Building - Increased media investment by 41% from fiscal 2018 to fiscal 2023, with a focus on relevant messaging [16]. - Successful product innovations include new offerings in the U.S. cereal category and snack products [21][22]. - The humanization trend in pet food is driving growth, with Blue Buffalo positioned to capitalize on this trend [24][25]. Digital and Technology Investments - Significant investments in digital infrastructure have led to a 40-fold increase in data science capabilities since 2018 [28]. - E-commerce sales have grown from 4% to mid-teens of U.S. retail sales, outpacing brick-and-mortar growth [29]. - Enhanced supply chain efficiencies through AI and data-driven approaches have improved customer service and reduced costs [33]. Commitment to Sustainability - General Mills is focused on improving food security, community strength, and regenerative agriculture, with over 500,000 acres engaged in regenerative practices [34]. Shareholder Return Model - The company aims for 2% to 3% organic net sales growth, mid-single-digit growth in adjusted operating profit, and a free cash flow conversion rate of approximately 95% [37]. - General Mills has returned over $10 billion to shareholders through dividends and share repurchases from fiscal 2018 to fiscal 2023 [44]. Conclusion - General Mills is navigating a dynamic operating environment with a clear strategy focused on brand building, innovation, and digital capabilities, positioning itself for continued profitable growth and shareholder returns [46].

CAGNY 2024 February 20, 2024 Jeff Harmening Chairman and Chief Executive Officer ...

Core Viewpoint - General Mills is committed to its Accelerate strategy aimed at achieving long-term sustainable growth and delivering top-tier shareholder returns while reaffirming its financial outlook for fiscal 2024 [1][5]. Group 1: Accelerate Strategy and Financial Performance - The Accelerate strategy has successfully driven sustainable, profitable growth, with financial results meeting or exceeding long-term goals over the past five fiscal years [2]. - The company has focused on core markets, global platforms, and local brands, demonstrating agility in response to changing consumer environments [2]. - General Mills has generated a 12 percent compound annual total return to shareholders over the past five years, outperforming its food peer median [4]. Group 2: Sustainable Growth Initiatives - The company is investing in brand building, with nine brands generating over $1 billion in retail sales, and media investment increased by 41 percent from fiscal 2018 to fiscal 2023 [3]. - New product innovation is being prioritized, with launches across various categories, supported by a robust digital infrastructure enhancing E-commerce and data-driven marketing [3]. - General Mills is committed to social responsibility, aiming to advance regenerative agricultural practices on one million acres by 2030, with 500,000 acres already engaged [3]. Group 3: Fiscal 2024 Financial Outlook - For fiscal 2024, organic net sales are projected to be down 1 percent to flat, while adjusted operating profit and adjusted diluted EPS are expected to increase by 4 to 5 percent in constant currency [5]. - Free cash flow conversion is anticipated to be at least 95 percent of adjusted after-tax earnings [5].

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.Zacks Premium includes access to the Zacks Style Scores as well.What are the Zacks Style Sc ...

In the latest market close, General Mills (GIS) reached $62.37, with a -0.89% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.96%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 1.3%.Prior to today's trading, shares of the maker of Cheerios cereal, Yoplait yogurt and other packaged foods had gained 0.16% over the past month. This has lagged the Consumer Staples sector's gain of 0.45% and the S&P 500's gain of 3.69% in that time. ...

Core Insights - General Mills Inc. (GIS) is enhancing operational efficiency through its Holistic Margin Management (HMM) strategy, expecting to achieve cost savings of 5% of the cost of goods sold in fiscal 2024, up from the previous guidance of 4% [1] - The company is focusing on product innovation and brand marketing to strengthen its portfolio, introducing new flavors and expanding into the pet care market [3] - Despite overall growth strategies, the pet segment has faced challenges, with a 4% year-over-year revenue decline in Q2 fiscal 2024, primarily due to decreased pound volume and a shift towards more economical pet food options [5] Operational Efficiency - GIS has successfully implemented its HMM strategy to reduce costs and improve operational efficiency, focusing on waste elimination and supply chain optimization [1] - The company has made significant improvements in supply-chain efficiency, which is essential for product availability and cost reduction [2] Product Innovation & Brand Expansion - GIS is refreshing its product portfolio with new flavors and engaging consumers through brand marketing, which supports premium pricing strategies [3] - The company is capitalizing on the growing pet care market with new product launches and acquisitions, such as Tastefuls Purees and Fera Pet Organics [3] Challenges in the Pet Segment - The pet segment's revenues fell to $569.3 million in Q2 fiscal 2024, a 4% decline year-over-year, attributed to unfavorable economic conditions and a shift in consumer preferences [5] - Sales through Pet Retail channels experienced a notable double-digit decline, indicating the need for strategic adjustments to restore growth in this category [5] Financial Outlook - The Zacks Consensus Estimate suggests a 0.6% decline in current-year sales compared to the previous year, while earnings are expected to grow by 4.4% [6]

Dragon Claws The past 12 months have been great for the 'Magnificent 7' tech stocks and Al-related stocks as the market appears willing to continually chase these names to higher highs. For how much longer this rally may last, especially with Al names like Nvidia (NVDA), is anyone's guess, and it wouldn't be fun if and when the music stops. That's why a better idea for new capital deployment in this frothy market may be to allocate towards beaten down sectors that used to be market favorites, such as Consum ...

In the latest market close, General Mills (GIS) reached $64.06, with a +0.55% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.06% for the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.The maker of Cheerios cereal, Yoplait yogurt and other packaged foods's shares have seen an increase of 0.89% over the last month, not keeping up with the Consumer Staples sector's gain of 1.53% and the S&P 500's gain of 6.45%.The upcoming ...

Zacks Premium and Style Scores - Zacks Premium offers tools like daily updates of Zacks Rank and Zacks Industry Rank, full access to the Zacks 1 Rank List, Equity Research reports, and Premium stock screens to help investors make informed decisions [1] - Zacks Style Scores rate stocks based on value, growth, and momentum characteristics, with ratings from A to F, where A indicates the highest potential for outperformance [2] - The Style Scores are divided into four categories: Value Score, Growth Score, Momentum Score, and VGM Score, which combines all three styles [2][3][4] - The Zacks Rank, a proprietary stock-rating model, uses earnings estimate revisions to identify stocks with high potential, with 1 (Strong Buy) stocks delivering an average annual return of +25.41% since 1988 [5] - Combining Zacks Rank 1 or 2 with Style Scores of A or B maximizes the probability of success in stock selection [6] General Mills (GIS) Analysis - General Mills Inc is a global manufacturer and marketer of branded consumer foods, including ready-to-eat cereals, snacks, and baking products, serving retail, foodservice, and commercial baking industries [7] - GIS holds a Zacks Rank of 3 (Hold) with a VGM Score of B, indicating a balanced combination of value, growth, and momentum [7] - The company has a Growth Style Score of B, with a projected year-over-year earnings growth of 4.4% for the current fiscal year [7] - Six analysts revised their earnings estimates higher for fiscal 2024, and the Zacks Consensus Estimate increased by $0.02 to $4.49 per share, with an average earnings surprise of 5.7% [7] - GIS is recommended for investors seeking growth opportunities, given its strong Zacks Rank and top-tier Growth and VGM Style Scores [8]