OLD National Bancorp IN Has $3.82 Million Position in General Mills, Inc. $GIS

OLD National Bancorp IN boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 856.3% in the fourth quarter, Holdings Channel reports. The firm owned 82,049 shares of the company’s stock after purchasing an additional 73,469 shares during the period. OLD National Bancorp IN’s holdings in General Mills were worth $3,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Austin Private Wealth LLC boosted its holdings in shares of General Mills by 5.0% in the third quarter. Austin Private Wealth LLC now owns 4,442 shares of the company’s stock valued at $224,000 after buying an additional 211 shares during the period. Retirement Planning Co of New England Inc. boosted its holdings in shares of General Mills by 4.2% in the third quarter. Retirement Planning Co of New England Inc. now owns 5,416 shares of the company’s stock valued at $273,000 after buying an additional 219 shares during the period. Smith Moore & CO. boosted its holdings in shares of General Mills by 2.6% in the third quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock valued at $443,000 after buying an additional 225 shares during the period. Stonebridge Capital Advisors LLC boosted its holdings in shares of General Mills by 0.7% in the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after buying an additional 226 shares during the period. Finally, Tempus Wealth Planning LLC boosted its holdings in shares of General Mills by 5.7% in the third quarter. Tempus Wealth Planning LLC now owns 4,297 shares of the company’s stock valued at $217,000 after buying an additional 231 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS stock opened at $35.50 on Friday. The company’s fifty day simple moving average is $39.72 and its 200-day simple moving average is $44.34. 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 firm has a market cap of $18.94 billion, a PE ratio of 8.68 and a beta of 0.01. General Mills, Inc. has a 12 month low of $34.04 and a 12 month high of $57.37.

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

General Mills Announces Dividend

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

Wall Street Analysts Forecast Growth

GIS has been the subject of several research analyst reports. Stifel Nicolaus reduced their price target on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $42.00 to $36.00 and set an “underweight” rating for the company in a report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Mills from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, March 30th. Morgan Stanley reduced their price target on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, February 18th. Finally, Bank of America cut shares of General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $43.22.

General Mills 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.