Rock Point Advisors LLC Cuts Stock Holdings in General Mills, Inc. $GIS

Rock Point Advisors LLC decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,708 shares of the company’s stock after selling 14,932 shares during the quarter. Rock Point Advisors LLC’s holdings in General Mills were worth $3,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GIS. Vermillion & White Wealth Management Group LLC purchased a new position in shares of General Mills during the third quarter worth about $25,000. Close Asset Management Ltd purchased a new position in shares of General Mills during the third quarter worth about $28,000. Activest Wealth Management grew its holdings in shares of General Mills by 211.7% during the fourth quarter. Activest Wealth Management now owns 695 shares of the company’s stock worth $32,000 after purchasing an additional 472 shares in the last quarter. Binnacle Investments Inc grew its holdings in shares of General Mills by 312.5% during the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of General Mills by 190.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company’s stock worth $34,000 after purchasing an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company lowered General Mills from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $35.00 to $33.00 in a report on Wednesday, April 8th. UBS Group cut their target price on General Mills from $40.00 to $35.00 and set a “sell” rating for the company in a research note on Thursday, March 19th. Barclays cut their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday. Sanford C. Bernstein cut their target price on General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a research note on Wednesday, February 18th. Finally, Zacks Research lowered General Mills from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $42.83.

General Mills Stock Performance

NYSE:GIS opened at $34.10 on Wednesday. The firm has a market cap of $18.20 billion, a PE ratio of 8.34 and a beta of -0.02. General Mills, Inc. has a fifty-two week low of $33.37 and a fifty-two week high of $55.35. 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 business has a 50 day moving average price of $37.33 and a 200-day moving average price of $43.17.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The company had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.12 EPS. Equities research analysts predict that General Mills, Inc. will post 3.44 earnings per share for the current year.

General Mills Company 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.