Commerce Bank raised its holdings in General Mills, Inc. (NYSE:GIS) by 0.3% in the 1st quarter, Holdings Channel reports. The firm owned 201,666 shares of the company’s stock after purchasing an additional 618 shares during the quarter. Commerce Bank’s holdings in General Mills were worth $10,436,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Advisors LLC bought a new position in General Mills in the 1st quarter valued at $31,000. Certified Advisory Corp raised its position in General Mills by 100.9% in the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after purchasing an additional 323 shares during the last quarter. Acima Private Wealth LLC bought a new position in General Mills in the 4th quarter valued at $29,000. We Are One Seven LLC bought a new position in General Mills in the 4th quarter valued at $30,000. Finally, Sageworth Trust Co bought a new position in General Mills in the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 69.10% of the company’s stock.
In other General Mills news, insider John R. Church sold 4,719 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the transaction, the insider now directly owns 34,112 shares of the company’s stock, valued at $1,732,207.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R Kerry Clark sold 14,836 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $51.57, for a total value of $765,092.52. Following the completion of the transaction, the director now directly owns 62,211 shares of the company’s stock, valued at $3,208,221.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 444,222 shares of company stock valued at $21,764,784. 0.59% of the stock is owned by insiders.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that General Mills, Inc. will post 3.14 earnings per share for the current fiscal year.
Several brokerages have issued reports on GIS. Wells Fargo & Co lifted their price objective on General Mills from $53.00 to $56.00 and gave the company a “positive” rating in a research report on Friday, March 22nd. Standpoint Research cut General Mills from a “buy” rating to a “hold” rating in a research note on Thursday, February 21st. Citigroup reissued a “top pick” rating and issued a $60.00 target price (up from $54.00) on shares of General Mills in a research note on Thursday, March 21st. Bank of America reissued a “neutral” rating and issued a $49.00 target price on shares of General Mills in a research note on Friday, May 17th. Finally, Guggenheim reissued a “buy” rating on shares of General Mills in a research note on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.17.
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General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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