Commerce Bank Has $14.14 Million Stake in General Mills, Inc. (GIS)
Commerce Bank lowered its holdings in shares of General Mills, Inc. (NYSE:GIS) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 255,311 shares of the company’s stock after selling 589 shares during the period. Commerce Bank’s holdings in General Mills were worth $14,144,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Waldron LP bought a new position in General Mills during the first quarter worth $420,000. Benjamin F. Edwards & Company Inc. raised its stake in General Mills by 9.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 55,222 shares of the company’s stock worth $3,259,000 after buying an additional 4,765 shares during the last quarter. Crawford Investment Counsel Inc. raised its stake in General Mills by 2.1% during the first quarter. Crawford Investment Counsel Inc. now owns 172,754 shares of the company’s stock worth $10,194,000 after buying an additional 3,585 shares during the last quarter. Carnick & Kubik Group LLC raised its stake in General Mills by 32.7% during the first quarter. Carnick & Kubik Group LLC now owns 25,732 shares of the company’s stock worth $1,518,000 after buying an additional 6,335 shares during the last quarter. Finally, Swiss National Bank raised its stake in General Mills by 16.8% during the first quarter. Swiss National Bank now owns 3,206,616 shares of the company’s stock worth $189,222,000 after buying an additional 461,500 shares during the last quarter. 70.45% of the stock is owned by hedge funds and other institutional investors.
GIS has been the subject of a number of analyst reports. Vetr raised shares of General Mills from a “hold” rating to a “buy” rating and set a $57.82 target price for the company in a research note on Tuesday, June 27th. BidaskClub raised shares of General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Friday, September 15th. Citigroup Inc. reissued a “buy” rating and set a $67.00 target price on shares of General Mills in a research note on Thursday, September 21st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $55.00 target price (down previously from $58.00) on shares of General Mills in a research note on Sunday, June 25th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. General Mills presently has an average rating of “Hold” and a consensus target price of $56.75.
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Shares of General Mills, Inc. (NYSE GIS) opened at 51.53 on Friday. General Mills, Inc. has a 1-year low of $50.13 and a 1-year high of $64.06. The company has a market capitalization of $29.29 billion, a P/E ratio of 18.46 and a beta of 0.61. The firm has a 50-day moving average of $53.11 and a 200 day moving average of $55.68.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts expect that General Mills, Inc. will post $3.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 annualized dividend and a yield of 3.80%. General Mills’s dividend payout ratio (DPR) is presently 70.25%.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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