General Mills stock price drops for the second day, despite favorable market conditions

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General Mills stock price drops for the second day, despite favorable market conditions
Credit: © Reuters.

General Mills Inc (NYSE: GIS ). experienced a second consecutive day of losses on Monday, with its stock price falling to $65.22, despite an overall favorable day for the S&P 500 Index and Dow Jones Industrial Average . This current price stands $25.67 below its annual high of $90.89, reached on May 15th.

The company's performance has been mixed when compared to competitors like Mondelez International Inc (NASDAQ: MDLZ )., Kraft Heinz (NASDAQ: KHC ) Co., and Hershey Co (NYSE: HSY ). Monday's trading volume for General Mills was 764,264 units short of its 50-day average of 4.7 million units.

InvestingPro Insights

In light of the current market status of General Mills Inc., InvestingPro data and tips provide some insightful perspectives. With a market capitalization of $37.91B USD and a P/E ratio of 15.82, General Mills is a significant player in the market. Over the last twelve months as of Q1 2024, the company has generated a revenue of $20281.3M (NYSE: MMM ) USD, reflecting a growth of 5.79%. Interestingly, the company's P/E ratio is projected to improve to 14.75 by Q1 2024.

From the InvestingPro Tips, it's important to note that General Mills has a strong history of maintaining dividend payments, having done so for 53 consecutive years. This is further supported by the data, which shows a dividend yield of 3.62% as of the end of 2023. The company has also been aggressively buying back shares and yields a high return on invested capital.

While the company's stock has taken a hit over the last six months, the InvestingPro Fair Value estimates the stock to be valued at $77.04 USD, indicating potential for growth.

InvestingPro offers many more tips and data to aid your investment decisions. For instance, there are 11 more tips available for General Mills on the InvestingPro platform.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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