Assenagon Asset Management S.A. Cuts Position in General Mills, Inc. $GIS

Assenagon Asset Management S.A. trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 45.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,176 shares of the company’s stock after selling 345,341 shares during the period. Assenagon Asset Management S.A.’s holdings in General Mills were worth $15,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of General Mills during the 3rd quarter valued at about $25,000. Reflection Asset Management bought a new stake in General Mills during the fourth quarter worth approximately $25,000. Close Asset Management Ltd purchased a new stake in General Mills during the third quarter valued at approximately $28,000. Nalls Sherbakoff Group LLC bought a new stake in shares of General Mills in the 4th quarter valued at approximately $26,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on GIS shares. Mizuho decreased their price target on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research note on Wednesday, June 3rd. Bank of America cut their price objective on shares of General Mills from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, May 28th. Morgan Stanley reduced their target price on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 5th. Finally, Piper Sandler lowered their target price on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $39.06.

Insider Activity

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the transaction, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

General Mills Stock Up 1.8%

NYSE:GIS opened at $36.04 on Friday. The company has a market cap of $19.23 billion, a price-to-earnings ratio of 8.81 and a beta of -0.03. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $54.18. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The stock has a fifty day simple moving average of $34.12 and a 200-day simple moving average of $40.13.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.