Assenagon Asset Management S.A. Has $16.43 Million Stake in General Mills, Inc. (NYSE:GIS)

Assenagon Asset Management S.A. boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 420.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 222,427 shares of the company’s stock after purchasing an additional 179,703 shares during the quarter. Assenagon Asset Management S.A.’s holdings in General Mills were worth $16,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC acquired a new position in General Mills in the first quarter valued at about $386,000. Wealth Enhancement Advisory Services LLC grew its position in General Mills by 2.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 185,581 shares of the company’s stock worth $12,985,000 after acquiring an additional 4,480 shares during the last quarter. Founders Financial Securities LLC acquired a new stake in General Mills during the 1st quarter valued at $367,000. Cornerstone Wealth Group LLC bought a new position in General Mills in the 1st quarter valued at $258,000. Finally, Diversified Trust Co acquired a new position in General Mills in the first quarter worth $1,356,000. 75.71% of the stock is owned by institutional investors.

General Mills Price Performance

General Mills stock opened at $68.30 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $37.92 billion, a P/E ratio of 16.26, a PEG ratio of 3.55 and a beta of 0.10. The business has a 50-day moving average of $72.31 and a 200-day moving average of $69.18. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. On average, equities analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.51%. The ex-dividend date is Thursday, October 10th. General Mills’s payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GIS shares. TD Cowen lifted their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Stifel Nicolaus upped their target price on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. Piper Sandler upped their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, Citigroup increased their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.00.

Insider Buying and Selling at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,555 shares of company stock valued at $4,657,676. 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.