General Mills Stock Price, News & Analysis

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301 INC, the venture capital arm of General Mills, is investing up to $20 million in Pots & Co, a London-based food company known for its hand-crafted desserts. This investment aims to enhance Pots & Co's growth strategy, expanding its product range and distribution in the US, particularly on the West Coast and Rocky Mountain region. With significant past growth, from $2.8 million in 2014 to $19.5 million in 2020, this partnership is set to accelerate its US market presence.

General Mills (NYSE: GIS) reported third-quarter results for the period ending February 28, 2021, showing an 8% increase in net sales to $4.5 billion. Organic net sales rose 7%, driven by strong market share gains amid elevated at-home food demand. Net earnings increased 31% to $596 million, with diluted EPS climbing 30% to $0.96. The company announced a proposed divestiture of its European Yoplait operations and resumed share repurchases, indicating a solid balance sheet. General Mills aims to capitalize on ongoing consumer demand shifts with its Accelerate strategy.

General Mills has signed a memorandum of understanding to divest its 51% controlling stake in Yoplait S.A.S. to Sodiaal, a major French dairy cooperative. In return, General Mills will acquire full control of the Canadian Yoplait operations, which generated $290 million in fiscal 2020. The transaction, set to close by the end of calendar 2021, will streamline General Mills' focus on brands with greater growth potential, enhancing margins and growth profiles within its portfolio. The global net sales of Yoplait S.A.S. reached $740 million in fiscal 2020.

Americans are increasingly prioritizing wellness, recognizing the significant role pets play in enhancing their well-being. A study by Blue Buffalo shows that 55% of cat parents face a dilemma between nutrition and taste for their cats. To address this, Blue Buffalo introduces BLUE Tastefuls™, a new range of wet cat food designed to satisfy even the pickiest eaters while adhering to high nutritional standards. These offerings include patés, flaked entrées, and tender morsels, all made with natural ingredients and real meat. BLUE Tastefuls™ is now available at major retailers.

Pillsbury has introduced its first-ever line of Soft Baked Cookies, available for immediate consumption without baking. The cookies feature a soft texture made with real butter and shortening and come in four flavors: Chocolate Chip, Confetti, Sugar with Drizzled Icing, and Peanut Butter with Chocolatey Drizzle. Starting March 10, these cookies will be available for preorder at Walmart and nationwide in April, retailing at $3.69 for an 18-count package. This launch marks a significant expansion for Pillsbury as it enters the ready-to-eat cookie market.

Betty Crocker has launched BettyLab, a platform designed to inspire creativity in kitchens. Partnering with Barbie's Dream Gap Project, they aim to support girls in STEM fields through culinary science. The initiative includes a $100,000 donation and a special edition baking mix, 'Baking Better Futures'. Starting March 8, International Women’s Day, BettyLab will offer engaging STEM-based recipes and tutorials. General Mills, parent company of Betty Crocker, reported net sales of $17.6 billion in fiscal 2020, emphasizing its global food leadership.

EPIC has launched its first Beef Barbacoa-Inspired Bar made from beef raised using regenerative farming practices aimed at reducing carbon emissions. This product carries the Savory Institute's Land to Market™ Ecological Outcome Verification™ Seal, highlighting EPIC’s commitment to sustainability. The beef is sourced from White Oak Pastures, offsetting 80% of its greenhouse gas emissions. Priced at $2.99 each, the bar is available at Whole Foods and EPIC's website, promoting consumer support for regenerative agriculture and improved soil health.

General Mills (NYSE: GIS) is set to announce its fiscal 2021 third quarter results on March 24, 2021. The announcement will include a press release, pre-recorded management remarks, and supporting slides, all available that morning. A webcast Q&A session is scheduled for 8:00 a.m. CT. General Mills, headquartered in Minneapolis, generated U.S. $17.6 billion in net sales for fiscal 2020, with an additional U.S. $1.0 billion from non-consolidated joint venture sales.