General Mills, Inc. $GIS Stake Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 93.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Other large investors also recently made changes to their positions in the company. State Street Corp lifted its holdings 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 valued at $1,700,060,000 after buying an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 488,617 shares during the period. Geode Capital Management LLC boosted its stake in shares of General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after buying an additional 172,200 shares during the period. Morgan Stanley lifted its stake in shares of General Mills by 2.1% in 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 last quarter. Finally, Invesco Ltd. boosted its holdings in shares of General Mills by 14.6% during the 4th quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock worth $408,291,000 after buying an additional 1,115,465 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 0.8%

GIS opened at $39.23 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The company has a fifty day moving average price of $36.10 and a two-hundred day moving average price of $37.97. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The company has a market cap of $20.93 billion, a P/E 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 EPS for the quarter, topping 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 company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts predict that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, July 1st. Wells Fargo & Company increased their price target on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd. Weiss Ratings raised shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Piper Sandler cut their price target on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, Barclays cut their price target on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, General Mills has a consensus rating of “Reduce” and an average target price of $39.16.

General Mills 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.