Allianz SE Sells 7,356 Shares of General Mills, Inc. $GIS

Allianz SE trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 35.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,200 shares of the company’s stock after selling 7,356 shares during the period. Allianz SE’s holdings in General Mills were worth $684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. lifted its holdings in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after purchasing an additional 264 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of General Mills during the second quarter valued at approximately $32,000. GKV Capital Management Co. Inc. purchased a new position in shares of General Mills in the first quarter worth $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of General Mills in the first quarter worth $37,000. Finally, Pingora Partners LLC boosted its position in shares of General Mills by 416.7% during the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock worth $37,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

GIS stock opened at $47.33 on Friday. The stock has a market cap of $25.25 billion, a PE ratio of 8.95, a P/E/G ratio of 1.17 and a beta of -0.04. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $67.40. The company has a 50-day moving average price of $48.80 and a 200 day moving average price of $50.93. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 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 firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, October 10th. General Mills’s dividend payout ratio (DPR) is 46.12%.

Analysts Set New Price Targets

Several brokerages have commented on GIS. Barclays decreased their price target on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, September 19th. Bernstein Bank decreased their target price on General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Finally, HSBC cut their target price on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.82.

Insider Activity

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

General Mills 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.