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MINNEAPOLIS - General Mills (NYSE: GIS), a $36 billion consumer foods giant with a robust financial health score of "GOOD" according to InvestingPro, is expanding into the ramen noodle market with new flavors inspired by its Old El Paso and Totino’s products. The company announced that these innovative ramen varieties will be available at Walmart stores and on Walmart.com starting in April. With nearly $20 billion in annual revenue and a 55-year track record of maintaining dividend payments, General Mills continues to demonstrate its market strength.
The new offerings include Old El Paso Ramen Noodles in Fajita and Beef Birria flavors, featuring a mix of traditional Tex-Mex spices and ingredients. Totino’s Ramen Noodles will come in Cheese Pizza and Buffalo-Style Chicken Pizza flavors, aiming to capture the essence of Totino’s popular pizza products in noodle form.
This move by General Mills taps into the popularity of instant ramen, which has become a viral sensation on social media platforms like TikTok. The company’s Vice President, MC Comings, expressed enthusiasm for the launch, highlighting the fusion of familiar flavors with the comfort of ramen noodles.
General Mills has positioned itself for this product rollout with an eye on the current trends in comfort food and the ongoing consumer interest in new and exciting flavor experiences. The introduction of these ramen varieties is part of the company’s broader strategy to innovate and expand its brand offerings.
The press release indicates that General Mills aims to provide a unique twist on mealtime routines with these new products. As the company continues to grow its brand portfolio, which includes Cheerios, Nature Valley, and Häagen-Dazs among others, it seeks to maintain its market presence with bold flavors and unexpected food combinations. Trading at a P/E ratio of 14.25 and offering a 3.68% dividend yield, investors can access detailed analysis and additional insights through InvestingPro’s comprehensive research reports, especially valuable with the company’s earnings announcement approaching on March 19.
The information for this article is based on a recent press release statement from General Mills.
In other recent news, General Mills has announced several significant developments. The company reported net sales of $20 billion for fiscal 2024 and has projected a decrease in adjusted diluted earnings per share for fiscal 2025, ranging from 4 percent to 2 percent in constant currency, due to increased interest expenses from acquiring North American Whitebridge Pet Brands. Additionally, General Mills has completed the sale of its Canadian yogurt business, including the Yoplait and Liberté brands, to Sodiaal, and plans to sell its U.S. yogurt operations to Lactalis within 2025. Analyst firm Jefferies raised General Mills’ stock price target to $62 while maintaining a Hold rating, citing a potential guidance revision due to declining retail sales trends.
Meanwhile, Piper Sandler reduced its price target for General Mills to $71, expressing concerns over slower sales growth and inventory reductions by retailers, particularly affecting the North American Retail and Pet segments. The firm also noted potential risks from regulatory uncertainties, including possible retaliatory tariffs from Canada. In leadership changes, Liz Mascolo will become the new Segment President for North America Pet, succeeding Jon Nudi, who will retire in June 2025. Furthermore, board member C. Kim Goodwin has decided not to seek reelection at the 2025 Annual Meeting of Shareholders, prompting the company to consider new board candidates. These recent developments reflect General Mills’ ongoing strategic adjustments and leadership transitions.
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