Assenagon Asset Management S.A. Sells 388,561 Shares of General Mills, Inc. $GIS

Assenagon Asset Management S.A. reduced its position in General Mills, Inc. (NYSE:GIS) by 93.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 28,615 shares of the company’s stock after selling 388,561 shares during the period. Assenagon Asset Management S.A.’s holdings in General Mills were worth $996,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in shares of General Mills by 0.4% in the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after purchasing an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of General Mills by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after purchasing an additional 488,617 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of General Mills by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares during the last quarter. Morgan Stanley increased its holdings in General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after purchasing an additional 200,043 shares during the period. Finally, Invesco Ltd. lifted its stake in General Mills by 14.6% in the fourth quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock worth $408,291,000 after acquiring an additional 1,115,465 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein cut shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research report on Wednesday, June 3rd. Barclays decreased their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Stifel Nicolaus reduced their price target on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft increased their price objective on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, BNP Paribas Exane boosted their price objective on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $39.16.

General Mills Stock Up 0.8%

General Mills stock opened at $39.23 on Friday. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The business has a fifty day moving average price of $36.10 and a 200-day moving average price of $37.97. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The stock has a market capitalization of $20.93 billion, a price-to-earnings ratio of -217.90 and a beta of -0.03.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same period in the previous year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts forecast that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.2%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

General Mills Company Profile

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.