Aigen Investment Management LP Makes New Investment in General Mills, Inc. $GIS

Aigen Investment Management LP bought a new position in General Mills, Inc. (NYSE:GIS) in the fourth quarter, HoldingsChannel reports. The fund bought 39,996 shares of the company’s stock, valued at approximately $1,860,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smith Moore & CO. boosted its holdings in shares of General Mills by 2.6% in the third quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock worth $443,000 after buying an additional 225 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its holdings in shares of General Mills by 1.9% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock worth $565,000 after buying an additional 225 shares during the last quarter. Allegheny Financial Group boosted its holdings in shares of General Mills by 4.8% in the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock worth $228,000 after buying an additional 226 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its holdings in shares of General Mills by 0.7% in the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock worth $1,702,000 after buying an additional 226 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC boosted its holdings in shares of General Mills by 3.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company’s stock worth $320,000 after buying an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 1.9%

NYSE GIS opened at $34.47 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. The company has a market capitalization of $18.40 billion, a P/E 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 stock has a 50 day moving average price of $34.51 and a 200-day moving average price of $41.00.

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

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was 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. This trade represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value 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. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of General Mills from $36.00 to $31.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Barclays dropped their price objective on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Mizuho dropped their price objective on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. UBS Group cut their price objective on General Mills from $35.00 to $30.00 and set a “sell” rating for the company in a research note on Tuesday, June 2nd. Finally, Wells Fargo & Company cut their price objective on General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $39.39.

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.