OLD National Bancorp IN Increases Holdings in General Mills, Inc. (GIS)

OLD National Bancorp IN boosted its stake in General Mills, Inc. (NYSE:GIS) by 1.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 48,623 shares of the company’s stock after purchasing an additional 612 shares during the period. OLD National Bancorp IN’s holdings in General Mills were worth $2,517,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of GIS. Norges Bank purchased a new position in shares of General Mills in the fourth quarter worth about $208,406,000. Oregon Public Employees Retirement Fund grew its stake in General Mills by 3,788.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,531,100 shares of the company’s stock valued at $65,000 after acquiring an additional 2,466,013 shares in the last quarter. BlackRock Inc. grew its stake in General Mills by 2.6% during the fourth quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock valued at $1,593,046,000 after acquiring an additional 1,049,722 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in General Mills during the fourth quarter valued at approximately $33,087,000. Finally, Steward Partners Investment Advisory LLC grew its stake in General Mills by 1,566.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 728,867 shares of the company’s stock valued at $28,382,000 after acquiring an additional 685,139 shares in the last quarter. Hedge funds and other institutional investors own 69.16% of the company’s stock.

In related news, insider Shawn P. Ogrady sold 118,152 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $48.50, for a total transaction of $5,730,372.00. Following the completion of the sale, the insider now directly owns 187,891 shares in the company, valued at approximately $9,112,713.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director R Kerry Clark sold 14,836 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $51.57, for a total transaction of $765,092.52. Following the sale, the director now owns 62,211 shares of the company’s stock, valued at $3,208,221.27. The disclosure for this sale can be found here. Insiders have sold a total of 444,222 shares of company stock valued at $21,764,784 over the last quarter. 0.59% of the stock is currently owned by company insiders.

Shares of GIS opened at $51.79 on Tuesday. The company has a market capitalization of $30.73 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.55 and a quick ratio of 0.35. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $52.17.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.14. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Equities research analysts expect that General Mills, Inc. will post 3.14 earnings per share for the current year.

Several equities analysts recently commented on the stock. Wells Fargo & Co boosted their price objective on shares of General Mills from $53.00 to $56.00 and gave the company a “positive” rating in a research note on Friday, March 22nd. Morgan Stanley boosted their price objective on shares of General Mills from $41.00 to $49.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. boosted their price objective on shares of General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Credit Suisse Group boosted their price objective on shares of General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Finally, Citigroup reaffirmed a “top pick” rating and set a $60.00 price objective (up previously from $54.00) on shares of General Mills in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.91.

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General Mills Profile

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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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