General Mills, Inc. (NYSE:GIS) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 23.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,647 shares of the company’s stock after selling 6,222 shares during the quarter. OLD National Bancorp IN’s holdings in General Mills were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. Morgan Stanley grew its position in shares of General Mills by 0.3% in the third quarter. Morgan Stanley now owns 8,242,274 shares of the company’s stock valued at $527,423,000 after purchasing an additional 23,400 shares during the last quarter. Northern Trust Corp grew its position in shares of General Mills by 5.0% in the third quarter. Northern Trust Corp now owns 7,995,118 shares of the company’s stock valued at $511,608,000 after purchasing an additional 379,702 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of General Mills by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,527,989 shares of the company’s stock valued at $468,346,000 after purchasing an additional 44,933 shares during the last quarter. Nordea Investment Management AB grew its position in shares of General Mills by 48.7% in the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock valued at $325,728,000 after purchasing an additional 1,654,111 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of General Mills by 2.4% in the third quarter. Invesco Ltd. now owns 4,102,503 shares of the company’s stock valued at $262,519,000 after purchasing an additional 96,935 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on GIS. Stifel Nicolaus reiterated a “buy” rating and issued a $77.00 price target on shares of General Mills in a research report on Monday. TD Cowen raised their target price on shares of General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. Barclays raised their target price on shares of General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $72.00 target price on shares of General Mills in a research report on Thursday, March 21st. Finally, HSBC raised their target price on shares of General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $72.18.

Insider Activity

In related news, insider Jonathon Nudi sold 7,671 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the sale, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 17,726 shares of company stock valued at $1,187,811. Company insiders own 0.24% of the company’s stock.

General Mills Stock Performance

Shares of GIS stock opened at $70.82 on Wednesday. The company’s fifty day simple moving average is $67.17 and its 200-day simple moving average is $65.45. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $90.89. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The company has a market cap of $40.22 billion, a PE ratio of 16.24, a P/E/G ratio of 2.46 and a beta of 0.15.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is presently 54.13%.

General Mills 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.