OP Asset Management Ltd Purchases Shares of 54,487 General Mills, Inc. $GIS

OP Asset Management Ltd purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 54,487 shares of the company’s stock, valued at approximately $2,028,000.

Several other large investors also recently modified their holdings of the stock. LBP AM SA acquired a new stake in General Mills in the fourth quarter valued at approximately $2,639,000. Oak Thistle LLC bought a new stake in General Mills during the 4th quarter worth approximately $1,320,000. Robeco Institutional Asset Management B.V. increased its holdings in General Mills by 1,824.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock worth $41,628,000 after purchasing an additional 848,712 shares in the last quarter. Korea Investment CORP raised its stake in shares of General Mills by 161.9% in the third quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock worth $16,800,000 after purchasing an additional 205,981 shares during the last quarter. Finally, HF Advisory Group LLC lifted its holdings in shares of General Mills by 550.2% in the fourth quarter. HF Advisory Group LLC now owns 79,156 shares of the company’s stock valued at $3,681,000 after purchasing an additional 66,981 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

NYSE:GIS opened at $36.04 on Monday. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $54.18. The stock has a fifty day moving average of $34.12 and a 200 day moving average of $40.09. 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 firm has a market capitalization of $19.23 billion, a price-to-earnings ratio of 8.81 and a beta of -0.03.

Analyst Ratings Changes

GIS has been the subject of a number of recent analyst reports. Barclays reduced their price objective on shares of 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. The Goldman Sachs Group restated a “neutral” rating and set a $36.00 price target on shares of General Mills in a research report on Tuesday, June 2nd. BTIG Research assumed coverage on shares of General Mills in a research report on Monday, April 13th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lowered their target price on General Mills from $36.00 to $31.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of General Mills in a research report on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $39.06.

Insiders Place Their Bets

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the 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 transaction, the insider owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares in the company, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by corporate insiders.

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.