Allianz Asset Management GmbH Purchases 31,577 Shares of General Mills, Inc. (NYSE:GIS)

Allianz Asset Management GmbH raised its position in shares of General Mills, Inc. (NYSE:GIS) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 674,730 shares of the company’s stock after acquiring an additional 31,577 shares during the quarter. Allianz Asset Management GmbH’s holdings in General Mills were worth $43,028,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GIS. Nordea Investment Management AB boosted its position in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after acquiring an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. State Street Corp boosted its position in shares of General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Nepsis Inc. boosted its position in shares of General Mills by 3,504.8% in the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after purchasing an additional 2,104,353 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of General Mills by 6,114.0% in the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after purchasing an additional 443,202 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Price Performance

Shares of GIS opened at $61.02 on Friday. The firm has a market cap of $33.63 billion, a PE ratio of 13.26, a P/E/G ratio of 1.94 and a beta of 0.10. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $60.89 and a two-hundred day simple moving average of $66.55. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. On average, equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.93%. General Mills’s dividend payout ratio is presently 52.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Bank of America dropped their price target on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus dropped their price target on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus target price of $69.88.

Insider Buying and Selling at General Mills

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.