BridgePort Financial Solutions LLC Makes New Investment in General Mills, Inc. (NYSE:GIS)

BridgePort Financial Solutions LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 6,438 shares of the company's stock, valued at approximately $386,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Mills during the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Mills during the fourth quarter worth about $31,000. Transce3nd LLC bought a new position in shares of General Mills during the fourth quarter worth about $32,000. VSM Wealth Advisory LLC acquired a new stake in General Mills in the fourth quarter worth about $32,000. Finally, Bank of Jackson Hole Trust acquired a new stake in General Mills in the fourth quarter worth about $34,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

General Mills Stock Performance

GIS stock traded up $0.20 during midday trading on Friday, reaching $54.19. The stock had a trading volume of 8,115,716 shares, compared to its average volume of 4,532,588. The firm has a fifty day simple moving average of $56.35 and a two-hundred day simple moving average of $59.98. The stock has a market cap of $29.87 billion, a PE ratio of 11.78, a P/E/G ratio of 1.94 and a beta of 0.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a 52-week low of $52.39 and a 52-week high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company posted $1.17 EPS. The business's revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays cut their price target on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, March 18th. Citigroup lowered their price target on General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. reduced their price objective on General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Bank of America reduced their target price on General Mills from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Finally, Jefferies Financial Group raised their target price on General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $64.69.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.