General Mills, Inc. $GIS Shares Purchased by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in General Mills by 68.7%, owning 30,928 shares valued at approximately $1.6 million.
• General Mills recently declared a quarterly dividend of $0.61, providing an annual yield of 4.9%, with the ex-dividend date on October 10th.
• The company reported $0.86 earnings per share for the last quarter, surpassing estimates of $0.82, despite a 6.8% year-over-year revenue decline.

Commerzbank Aktiengesellschaft FI raised its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 68.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,928 shares of the company's stock after buying an additional 12,595 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in General Mills were worth $1,603,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $1,138,473,000 after buying an additional 15,480,835 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of General Mills by 8.1% during the 1st quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company's stock worth $589,814,000 after purchasing an additional 741,432 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of General Mills by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company's stock worth $428,213,000 after purchasing an additional 315,375 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of General Mills by 10.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company's stock worth $417,674,000 after purchasing an additional 634,393 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of General Mills by 6.9% during the 1st quarter. Invesco Ltd. now owns 6,403,879 shares of the company's stock worth $382,888,000 after purchasing an additional 414,768 shares during the period. Institutional investors and hedge funds own 75.71% of the company's stock.

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GIS. Wells Fargo & Company set a $53.00 price target on General Mills and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. UBS Group reduced their price target on General Mills from $49.00 to $47.00 and set a "sell" rating on the stock in a research note on Thursday, September 18th. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and reduced their price target for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. Zacks Research raised General Mills from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Finally, Jefferies Financial Group reduced their price target on General Mills from $51.00 to $50.00 and set a "hold" rating on the stock in a research note on Monday, September 8th. Four investment 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $55.82.

General Mills Trading Up 0.3%

Shares of GIS opened at $49.37 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $26.33 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 1.24 and a beta of -0.03. The stock's fifty day simple moving average is $49.78 and its 200 day simple moving average is $52.75. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $72.55.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business's quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $1.07 EPS. On average, equities research analysts forecast 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 Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 4.9%. The ex-dividend date is Friday, October 10th. General Mills's dividend payout ratio is currently 46.12%.

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.

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