Commerce Bank Purchases New Position in General Mills, Inc. $GIS

by · The Markets Daily

Commerce Bank purchased a new stake in General Mills, Inc. (NYSE:GIS – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 96,410 shares of the company’s stock, valued at approximately $3,355,000.

Several other hedge funds have also recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in shares of General Mills in the second quarter valued at approximately $9,188,000. Bank of Nova Scotia increased its stake in shares of General Mills by 4.1% during the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd lifted its holdings in General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after purchasing an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after purchasing an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after purchasing an additional 15,041 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Price Performance

General Mills stock opened at $40.92 on Tuesday. The stock’s fifty day moving average price is $36.77 and its two-hundred day moving average price is $37.67. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The firm has a market cap of $21.88 billion, a PE ratio of -227.32 and a beta of -0.03.

General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts expect that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s payout ratio is -1,355.56%.

Analysts Set New Price Targets

GIS has been the topic of a number of research reports. Barclays decreased their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft lifted their target price on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. UBS Group set a $33.00 target price on shares of General Mills in a research report on Monday, July 6th. BNP Paribas Exane upped their price target on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $39.16.

Check Out Our Latest Stock Analysis on General Mills

General Mills Company Profile

(Free Report)

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.

See Also

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