General Mills Cheers Up
June 8, 2009 by Mark Ellis
Filed under Business
Image: Flickr
A familiar presence on the breakfast table, General Mills has expressed an optimistic outlook for its 2009 earnings, stating that lower operating costs and a lower quarterly tax rate are responsible for the change. Understandably, investor confidence in General Mills increased enough to send its shares up 3.6 percent.
Things have been looking good for General Mills for the first nine months of their fiscal year, as sales are up 10 percent and volume is up 4 percent. The company places the praise with product innovation, asserting that General Mills’ wise investments in product development allowed them to ratchet up sales.
Analysts agree that General Mills will keep on getting better. General Mills stock is worth $54.04 as of today, but experts see General Mills stock heading north of $60 in 2010. While it only expects moderate growth in 2010, the company and its investors remain optimistic for a smooth ride.
