Rock Point Advisors LLC Invests $3.61 Million in General Mills, Inc. (NYSE:GIS)

Rock Point Advisors LLC purchased a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 60,370 shares of the company's stock, valued at approximately $3,610,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GIS. Perpetual Ltd increased its position in General Mills by 3.5% in the first quarter. Perpetual Ltd now owns 5,411 shares of the company's stock worth $324,000 after buying an additional 184 shares during the last quarter. Conning Inc. increased its position in General Mills by 4.6% in the first quarter. Conning Inc. now owns 4,212 shares of the company's stock worth $252,000 after buying an additional 185 shares during the last quarter. City Center Advisors LLC increased its position in General Mills by 3.4% in the first quarter. City Center Advisors LLC now owns 6,071 shares of the company's stock worth $363,000 after buying an additional 202 shares during the last quarter. Security National Bank of SO Dak increased its position in General Mills by 0.7% in the fourth quarter. Security National Bank of SO Dak now owns 31,290 shares of the company's stock worth $1,995,000 after buying an additional 205 shares during the last quarter. Finally, Canopy Partners LLC increased its position in General Mills by 4.1% in the fourth quarter. Canopy Partners LLC now owns 5,212 shares of the company's stock worth $332,000 after buying an additional 207 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Up 0.5%

Shares of NYSE:GIS traded up $0.24 during trading on Friday, reaching $51.60. The company's stock had a trading volume of 4,847,039 shares, compared to its average volume of 4,704,335. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 12 month low of $49.86 and a 12 month high of $75.90. The firm's 50 day simple moving average is $53.49 and its two-hundred day simple moving average is $57.49. The stock has a market capitalization of $27.99 billion and a PE ratio of 12.59.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.73%. General Mills's payout ratio is 59.51%.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. Mizuho reduced their price target on General Mills from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Citigroup reduced their price target on General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Morgan Stanley reiterated an "underweight" rating and issued a $51.00 price target (down from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Bank of America reduced their price target on General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Finally, Barclays reduced their price target on General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, June 26th. Two equities research 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 MarketBeat.com, General Mills currently has an average rating of "Hold" and an average target price of $59.73.

About General Mills

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.