The share price of General Mills (GIS) has changed little after reporting earnings after the market closed on Wednesday.

Fiscal fourth-quarter earnings per share (EPS) of $0.91 vs. $1.10 was $0.07 better than expectations. Sales declined 6%, as expected, on exceedingly difficult comparisons from the pandemic last year.

I found guidance for the May 2022 fiscal year encouraging, with the company expecting EPS to be flat-to-down by only 2% from the $3.79 per share that was earned in the previous quarter.

Organic sales will be down by 1-3%, despite the fact that comparisons will remain difficult for the first half of the year.

While the stock has struggled since May, as investors have been favoring growth over value stocks, GIS is a great bargain at 16X forward estimates. It also sports a 3.4% dividend yield. When investor sentiment changes, the stock will do well. Buy GIS under $59. My target is $65.