Allianz SE Invests $743,000 in General Mills, Inc. (NYSE:GIS)

Allianz SE purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 11,650 shares of the company’s stock, valued at approximately $743,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Endeavor Private Wealth Inc. bought a new position in shares of General Mills during the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC bought a new position in General Mills during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in General Mills during the 4th quarter valued at approximately $31,000. VSM Wealth Advisory LLC purchased a new position in General Mills during the fourth quarter valued at $32,000. Finally, Bank of Jackson Hole Trust bought a new stake in General Mills in the fourth quarter worth $34,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

General Mills Price Performance

NYSE GIS opened at $59.09 on Monday. The company has a 50-day moving average price of $59.97 and a 200-day moving average price of $64.61. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $32.57 billion, a P/E ratio of 12.85, a PEG ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, April 10th. General Mills’s payout ratio is 52.75%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen lowered their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Piper Sandler decreased their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Monday, March 17th. Jefferies Financial Group boosted their price objective on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Bank of America cut their target price on General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $65.69.

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.