GIS - Is It Too Late to Buy General Mills' Stock?
The prospects of an economic downturn heavily weighed on financial markets in 2022. The S&P 500 index dropped 19% last year. But consumer staple stocks fared quite well amid the market sell-off. For instance, shares of General Mills (NYSE: GIS) surged 28% higher in 2022.
This raises the question: Have investors missed the boat on the stock? Let's take a closer look at General Mills' fundamentals and valuation to get an answer.
Tracing its roots back to 1866, General Mills is one of the most established consumer staple companies in the world. Product launches and acquisitions over the years have allowed it to grow its portfolio to 100-plus brands that are sold in over 100 countries around the world. General Mills' most iconic brands include Blue Buffalo pet food, Chex Mix snack mix, and Cocoa Puffs cereal.
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Is It Too Late to Buy General Mills' Stock?