Allstate Corp Takes $1.07 Million Position in General Mills, Inc. (NYSE:GIS)

Allstate Corp purchased a new position in General Mills, Inc. (NYSE:GIS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,799 shares of the company's stock, valued at approximately $1,071,000.

Several other large investors also recently modified their holdings of GIS. Endeavor Private Wealth Inc. bought a new stake in shares of General Mills during the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC bought a new stake in General Mills during the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Mills during the fourth quarter valued at approximately $31,000. VSM Wealth Advisory LLC purchased a new stake in General Mills during the fourth quarter valued at approximately $32,000. Finally, Bank of Jackson Hole Trust bought a new position in General Mills in the fourth quarter worth approximately $34,000. Institutional investors own 75.71% of the company's stock.

General Mills Trading Down 2.2 %

NYSE GIS traded down $1.33 during trading on Friday, hitting $59.64. The stock had a trading volume of 7,577,878 shares, compared to its average volume of 4,348,413. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.94 and a beta of 0.06. The stock has a 50 day simple moving average of $59.97 and a 200 day simple moving average of $64.26. General Mills, Inc. has a one year low of $55.15 and a one year 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.

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General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the business earned $1.17 EPS. General Mills's revenue was down 5.1% compared to the same quarter last year. Sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.02%. General Mills's dividend payout ratio (DPR) is 52.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 price objective on shares of General Mills in a research note on Monday, March 17th. Morgan Stanley started coverage on General Mills in a research note on Monday, March 24th. They issued an "underweight" rating and a $53.00 price objective on the stock. Mizuho cut their price objective on General Mills from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Bank of America decreased their target price on shares of General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, Jefferies Financial Group upped their price target on shares of General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.69.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% 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.