Commerce Bank Takes $3.35 Million Position in General Mills, Inc. $GIS

Commerce Bank acquired a new position in General Mills, Inc. (NYSE:GIS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 96,410 shares of the company's stock, valued at approximately $3,355,000.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in shares of General Mills by 13.1% in the fourth quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company's stock valued at $57,985,000 after acquiring an additional 144,631 shares during the last quarter. KBC Group NV boosted its position in General Mills by 40.5% during the first quarter. KBC Group NV now owns 771,730 shares of the company's stock valued at $28,724,000 after purchasing an additional 222,602 shares during the last quarter. Fifth Third Bancorp boosted its position in General Mills by 140.2% during the fourth quarter. Fifth Third Bancorp now owns 87,060 shares of the company's stock valued at $4,048,000 after purchasing an additional 50,822 shares during the last quarter. Delta Global Management LP bought a new position in General Mills in the first quarter valued at approximately $1,849,000. Finally, Wealthfront Advisers LLC bought a new position in General Mills in the second quarter valued at approximately $21,342,000. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GIS. Piper Sandler dropped their price objective on General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their target price on shares of General Mills from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, July 2nd. Sanford C. Bernstein downgraded shares of General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 target price on the stock. in a report on Wednesday, June 3rd. TD Cowen dropped their price target on shares of General Mills from $32.00 to $31.00 and set a "hold" rating on the stock in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $39.16.

General Mills Price Performance

NYSE:GIS opened at $40.92 on Tuesday. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of -227.32 and a beta of -0.03. The stock's 50 day moving average price is $36.77 and its two-hundred day moving average price is $37.67. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

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

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.61 per share. 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%.

About General Mills

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.

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