Allianz Asset Management GmbH Decreases Stock Holdings in General Mills, Inc. $GIS

Allianz Asset Management GmbH reduced its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 31.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,858 shares of the company's stock after selling 94,915 shares during the period. Allianz Asset Management GmbH's holdings in General Mills were worth $10,666,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GIS. Charles Schwab Investment Management Inc. lifted its position in shares of General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock worth $1,138,473,000 after purchasing an additional 15,480,835 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of General Mills during the 1st quarter worth $279,570,000. Pacer Advisors Inc. lifted its position in shares of General Mills by 4,775.2% during the 1st quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company's stock worth $205,916,000 after purchasing an additional 3,373,338 shares during the last quarter. Nuveen LLC purchased a new stake in shares of General Mills during the 1st quarter worth $92,717,000. Finally, Federated Hermes Inc. lifted its position in shares of General Mills by 178.1% during the 1st quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company's stock worth $90,908,000 after purchasing an additional 973,798 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the business's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by company insiders.

General Mills Trading Down 0.5%

NYSE GIS opened at $48.59 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The firm has a market cap of $25.92 billion, a PE ratio of 9.19, a P/E/G ratio of 1.23 and a beta of -0.03. General Mills, Inc. has a one year low of $47.48 and a one year high of $69.24. The firm's fifty day moving average is $49.62 and its two-hundred day moving average is $52.16.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. General Mills's quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 earnings per share. Analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, October 10th. General Mills's payout ratio is 46.12%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GIS shares. Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. HSBC reduced their price target on shares of General Mills from $59.00 to $57.00 and set a "hold" rating for the company in a research report on Thursday, September 18th. Morgan Stanley reduced their price target on shares of General Mills from $49.00 to $48.00 and set an "underweight" rating for the company in a research report on Monday, September 15th. UBS Group reduced their price target on shares of General Mills from $49.00 to $47.00 and set a "sell" rating for the company in a research report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Mills from $52.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, September 18th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $55.82.

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.

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