OLD National Bancorp IN Buys 73,469 Shares of General Mills, Inc. $GIS

OLD National Bancorp IN lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 856.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,049 shares of the company’s stock after buying an additional 73,469 shares during the quarter. OLD National Bancorp IN’s holdings in General Mills were worth $3,815,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. LBP AM SA acquired a new stake in shares of General Mills during the 4th quarter worth approximately $2,639,000. North Star Investment Management Corp. grew its position in shares of General Mills by 255.8% during the 3rd quarter. North Star Investment Management Corp. now owns 59,791 shares of the company’s stock worth $3,015,000 after buying an additional 42,986 shares during the period. Oak Thistle LLC acquired a new stake in shares of General Mills during the 4th quarter worth approximately $1,320,000. Robeco Institutional Asset Management B.V. grew its position in shares of General Mills by 1,824.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock worth $41,628,000 after buying an additional 848,712 shares during the period. Finally, Korea Investment CORP grew its position in shares of General Mills by 161.9% during the 3rd quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock worth $16,800,000 after buying an additional 205,981 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the subject of several analyst reports. Stifel Nicolaus lowered their price target on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday. TD Cowen cut their target price on General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Thursday, March 19th. Evercore set a $45.00 target price on General Mills in a research note on Wednesday, February 18th. Mizuho cut their target price on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Finally, UBS Group cut their target price on General Mills from $40.00 to $35.00 and set a “sell” rating on the stock in a research note on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $43.22.

General Mills Stock Up 0.9%

Shares of NYSE GIS opened at $35.50 on Friday. The stock has a market cap of $18.94 billion, a P/E ratio of 8.68 and a beta of 0.01. The firm has a 50 day moving average price of $39.72 and a 200 day moving average price of $44.34. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills, Inc. has a 52-week low of $34.04 and a 52-week high of $57.37.

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, April 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.9%. General Mills’s payout ratio is currently 59.66%.

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.