General Mills Stock Hits Record High After Earnings

General Mills stock has already added roughly 12% this year

Digital Content Manager
Sep 21, 2022 at 10:08 AM
facebook X logo linkedin


The shares of General Mills, Inc (NYSE:GIS) are up 4.5% at $78.77 at last check, earlier hitting a record high of $79.49, following the packaged food producer's upbeat third-quarter earnings report. The firm turned earnings of $1.11 per share for the quarter, topping expectations, while revenue came in line with estimates. It also hiked its full-year forecast, noting higher prices and strong demand for items like cereal and pet food, even as consumers pull back on other purchases. 

We took a quick look at the stock's behavior just ahead of today's earnings report, pointing out its impressive year-to-date and year-over-year lead. GIS has since extended those gains, now up roughly 17% in 2022, and up 36% in the last 12 months. Plus, today's positive price action has the stock toppling pressure at the 50-day moving average.

Like we recently noted, the stock looks ripe for bull notes. Of the 12 in coverage, eight say "hold" or worse. Plus, the 12-month consensus price target of $73.35 is a 2.7% discount to last night's close. 

Elsewhere, sentiment is more bullish. General Mills stock's Schaeffer's put/call open interest ratio of 0.50 stands higher than just 19% of readings from the past 12 months. In other words, options traders have rarely been more put-biased. 

What's more, short sellers have been hitting the exits. Short interest dropped 11.2% in the last reporting period, and now makes up a slim 2.2% of the stock's available float. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI