GIS - Healthy Pullback in General Mills Stock Presents an Opportunity for Value Investors
General Mills (NYSE: GIS) stock fell 4.58% on Dec. 20 after the cereal, snack-food, and pet-food manufacturer reported its results for the second quarter of fiscal 2023. It was a sizable drop for a defensive stock during a particularly calm day for the major stock market indices.
Were General Mills' results that bad? Not really, but the sellers certainly had discouraging data points to cite. These were, as you may have guessed, primarily driven by this year's super-sticky inflation .
Must share prices fall as cereal prices rise, though? Don't underestimate General Mills' all-weather appeal as a surprisingly adaptive breakfast-fare consumer could give this company and its stakeholders a margin (literally) of safety.
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Healthy Pullback in General Mills Stock Presents an Opportunity for Value Investors