LSV Asset Management lowered its holdings in General Mills, Inc. (NYSE:GIS) by 71.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,400 shares of the company’s stock after selling 126,800 shares during the quarter. LSV Asset Management’s holdings in General Mills were worth $2,699,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of GIS. Iridian Asset Management LLC CT acquired a new stake in General Mills in the 2nd quarter valued at $106,946,000. FMR LLC grew its position in General Mills by 92.9% in the 1st quarter. FMR LLC now owns 3,431,373 shares of the company’s stock valued at $177,574,000 after purchasing an additional 1,652,275 shares during the period. DekaBank Deutsche Girozentrale grew its position in General Mills by 469.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 953,445 shares of the company’s stock valued at $43,653,000 after purchasing an additional 785,927 shares during the period. JPMorgan Chase & Co. grew its position in General Mills by 42.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,965,879 shares of the company’s stock valued at $101,734,000 after purchasing an additional 584,631 shares during the period. Finally, Thoroughbred Financial Services LLC grew its position in General Mills by 5,258.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 529,577 shares of the company’s stock valued at $52,958,000 after purchasing an additional 519,694 shares during the period. 68.96% of the stock is owned by institutional investors and hedge funds.
GIS traded down $0.75 during mid-day trading on Wednesday, reaching $53.55. 64,358 shares of the stock were exchanged, compared to its average volume of 3,183,881. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.37 and a current ratio of 0.59. The stock has a market capitalization of $32.75 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74. The company has a 50 day moving average price of $53.65 and a two-hundred day moving average price of $51.49. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $55.43.
Several analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of General Mills in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $56.00 price target for the company. Edward Jones raised shares of General Mills from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Guggenheim lifted their price target on shares of General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 22nd. Finally, Morgan Stanley lifted their price objective on shares of General Mills from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. General Mills has an average rating of “Hold” and a consensus target price of $52.98.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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