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

OLD National Bancorp IN grew its stake in General Mills, Inc. (NYSE:GIS) by 389.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 401,739 shares of the company’s stock after acquiring an additional 319,690 shares during the quarter. OLD National Bancorp IN owned 0.08% of General Mills worth $14,953,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of General Mills in the 3rd quarter worth about $25,000. Reflection Asset Management purchased a new stake in General Mills during the 4th quarter valued at about $25,000. Close Asset Management Ltd purchased a new stake in General Mills during the 3rd quarter valued at about $28,000. Nalls Sherbakoff Group LLC bought a new stake in General Mills during the 4th quarter valued at about $26,000. Finally, Bruce G. Allen Investments LLC increased its stake in General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

Shares of NYSE GIS opened at $35.33 on Friday. The firm’s 50-day moving average price is $34.09 and its 200-day moving average price is $40.16. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a market cap of $18.86 billion, a PE ratio of 8.64 and a beta of -0.03. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $54.18.

Insider Buying and Selling

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider owned 62,283 shares in the company, valued at $2,148,763.50. This represents a 11.38% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $36.00 to $31.00 and set an “underweight” rating for the company in a research report on Wednesday, June 3rd. Mizuho lowered their price objective on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, March 19th. Stifel Nicolaus lowered their price objective on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Finally, UBS Group cut their target price on General Mills from $35.00 to $30.00 and set a “sell” rating on the stock in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, General Mills currently has an average rating of “Reduce” and an average price target of $39.39.

About General Mills

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.