OLD National Bancorp IN Decreases Position in General Mills, Inc. (NYSE:GIS)

OLD National Bancorp IN reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 31.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,491 shares of the company’s stock after selling 5,363 shares during the quarter. OLD National Bancorp IN’s holdings in General Mills were worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of GIS. Gladstone Institutional Advisory LLC boosted its holdings in shares of General Mills by 6.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company’s stock worth $304,000 after buying an additional 268 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in General Mills by 11.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company’s stock valued at $53,211,000 after acquiring an additional 85,612 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Franklin Resources Inc. grew its holdings in General Mills by 10.6% during the 4th quarter. Franklin Resources Inc. now owns 484,550 shares of the company’s stock valued at $30,900,000 after buying an additional 46,536 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in General Mills by 34.5% in the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after acquiring an additional 2,341,137 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group dropped their price objective on shares of General Mills from $54.00 to $52.00 and set a “sell” rating for the company in a research note on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Monday, March 17th. Bank of America reduced their price objective on General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Citigroup decreased their price objective on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, Mizuho lowered their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.44.

General Mills Price Performance

Shares of NYSE GIS opened at $54.80 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average price is $55.76 and its 200 day moving average price is $59.53. General Mills, Inc. has a 52 week low of $52.39 and a 52 week high of $75.90. The stock has a market cap of $30.21 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.94 and a beta of 0.02.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

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.