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

Allianz Asset Management GmbH boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 674,730 shares of the company’s stock after buying an additional 31,577 shares during the period. Allianz Asset Management GmbH owned approximately 0.12% of General Mills worth $43,028,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. boosted its stake in General Mills by 1.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after buying an additional 148 shares during the period. Ballentine Partners LLC boosted its stake in General Mills by 1.1% during the third quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after buying an additional 165 shares during the period. RFG Advisory LLC boosted its stake in General Mills by 2.6% during the fourth quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock valued at $425,000 after buying an additional 172 shares during the period. Planning Capital Management Corp boosted its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. boosted its stake in General Mills by 3.3% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 6,176 shares of the company’s stock valued at $456,000 after buying an additional 196 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 3.1 %

Shares of NYSE:GIS opened at $61.02 on Friday. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company 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 debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The stock’s 50-day moving average is $60.89 and its 200 day moving average is $66.55.

General Mills (NYSE:GIS) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the business earned $1.25 EPS. General Mills’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend 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

Several research firms recently issued reports on GIS. Bank of America dropped their price objective on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus lowered 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. Barclays lowered their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company lowered 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, TD Cowen lowered 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. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus target price of $69.88.

Insider Activity at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the transaction, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

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.