Commerzbank Aktiengesellschaft FI Acquires 1,793 Shares of General Mills, Inc. (NYSE:GIS)

Commerzbank Aktiengesellschaft FI grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 50.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,341 shares of the company’s stock after acquiring an additional 1,793 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in General Mills were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in General Mills by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,560,359 shares of the company’s stock worth $227,044,000 after purchasing an additional 143,161 shares in the last quarter. Meridian Wealth Management LLC raised its position in shares of General Mills by 1.9% in the 4th quarter. Meridian Wealth Management LLC now owns 52,646 shares of the company’s stock worth $3,358,000 after acquiring an additional 1,005 shares in the last quarter. DJE Kapital AG purchased a new position in shares of General Mills in the 4th quarter valued at approximately $15,496,000. Plato Investment Management Ltd boosted its position in shares of General Mills by 32.4% during the fourth quarter. Plato Investment Management Ltd now owns 38,924 shares of the company’s stock valued at $2,491,000 after purchasing an additional 9,529 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in General Mills in the fourth quarter worth $611,000. Institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GIS shares. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, December 19th. Piper Sandler dropped their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Mizuho reduced their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Bank of America dropped their target price on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, Citigroup cut their target price on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.06.

General Mills Stock Down 0.3 %

GIS opened at $60.96 on Thursday. 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 company has a market capitalization of $33.60 billion, a PE ratio of 13.25, a PEG ratio of 1.94 and a beta of 0.10. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90. The firm’s 50 day simple moving average is $60.35 and its two-hundred day simple moving average is $66.09.

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

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

About General Mills

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.