Generali Asset Management SPA SGR Takes Position in General Mills, Inc. (NYSE:GIS)

Generali Asset Management SPA SGR acquired a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 111,939 shares of the company's stock, valued at approximately $7,138,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIS. Nordea Investment Management AB grew its position in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company's stock worth $497,054,000 after buying an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after acquiring an additional 2,926,232 shares during the period. State Street Corp grew its holdings in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company's stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Nepsis Inc. raised its stake in General Mills by 3,504.8% in the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company's stock valued at $138,023,000 after purchasing an additional 2,104,353 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in General Mills in the fourth quarter valued at about $80,994,000. Institutional investors and hedge funds own 75.71% of the company's stock.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of analyst reports. TD Cowen reduced their price objective on shares of General Mills from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, December 19th. Stifel Nicolaus decreased their price objective on shares of General Mills from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Barclays reduced their target price on General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 18th. Finally, Wells Fargo & Company lowered their price target on General Mills from $64.00 to $61.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $66.53.

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General Mills Trading Up 0.8 %

Shares of GIS stock traded up $0.47 on Friday, hitting $58.78. The company had a trading volume of 48,560,704 shares, compared to its average volume of 4,110,811. General Mills, Inc. has a twelve month low of $55.15 and a twelve month high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a market cap of $32.40 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.94 and a beta of 0.06. The stock's 50-day moving average is $60.00 and its two-hundred day moving average is $65.23.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly 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 for 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 business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 earnings per share. On average, equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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 given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.08%. General Mills's payout ratio is 52.75%.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

General Mills Company 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.