Aigen Investment Management LP Takes Position in General Mills, Inc. $GIS

Key Points

• Aigen Investment Management LP opened a new position in General Mills, buying 39,996 shares worth about $1.86 million in the fourth quarter.
• Institutional interest remains strong, with several large investors adding to or initiating positions; overall, institutions own 75.71% of the stock.
• Analysts are cautious on GIS: the consensus rating is “Reduce,” with an average price target of $39.39, while the stock recently traded around $34.47 after the company missed its latest earnings and revenue estimates.

Aigen Investment Management LP acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 39,996 shares of the company's stock, valued at approximately $1,860,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in General Mills in the fourth quarter valued at approximately $361,552,000. Worldquant Millennium Advisors LLC purchased a new stake in General Mills in the second quarter valued at approximately $84,862,000. Arrowstreet Capital Limited Partnership raised its stake in General Mills by 61.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company's stock valued at $192,589,000 after purchasing an additional 1,573,444 shares in the last quarter. Two Sigma Investments LP raised its stake in General Mills by 82.8% in the third quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company's stock valued at $172,226,000 after purchasing an additional 1,546,993 shares in the last quarter. Finally, LSV Asset Management raised its stake in General Mills by 32.4% in the fourth quarter. LSV Asset Management now owns 4,033,350 shares of the company's stock valued at $187,551,000 after purchasing an additional 986,050 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Mills

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

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. Barclays lowered their target price on shares of General Mills from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, May 11th. Mizuho decreased their price target on shares of General Mills from $47.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, March 19th. Royal Bank Of Canada decreased their price target on shares of General Mills from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, March 19th. Finally, Piper Sandler decreased their price target on shares of General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $39.39.

General Mills Trading Up 1.9%

GIS stock opened at $34.47 on Friday. The company has a market capitalization of $18.40 billion, a PE ratio of 8.43 and a beta of -0.03. General Mills, Inc. has a one year low of $31.75 and a one year high of $55.13. The company's 50 day moving average price is $34.51 and its two-hundred day moving average price is $41.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.53 billion. During the same period last year, the business posted $1.12 earnings per share. The company's revenue was down 8.4% compared to the same quarter last year. As a group, analysts predict that General Mills, Inc. will post 3.42 earnings per share for the current fiscal year.

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.

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