OLD National Bancorp IN Purchases 319,690 Shares of General Mills, Inc. $GIS

OLD National Bancorp IN grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 389.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 401,739 shares of the company’s stock after purchasing an additional 319,690 shares during the quarter. OLD National Bancorp IN’s holdings in General Mills were worth $14,953,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. LBP AM SA purchased a new stake in shares of General Mills in the 4th quarter worth $2,639,000. Oak Thistle LLC purchased a new position in General Mills during the fourth quarter valued at $1,320,000. Robeco Institutional Asset Management B.V. lifted its position in General Mills by 1,824.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock valued at $41,628,000 after purchasing an additional 848,712 shares in the last quarter. Korea Investment CORP grew its holdings in General Mills by 161.9% during the third quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock valued at $16,800,000 after purchasing an additional 205,981 shares during the period. Finally, HF Advisory Group LLC grew its holdings in General Mills by 550.2% during the fourth quarter. HF Advisory Group LLC now owns 79,156 shares of the company’s stock valued at $3,681,000 after purchasing an additional 66,981 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

NYSE:GIS opened at $35.33 on Friday. 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 business’s 50-day simple moving average is $34.09 and its two-hundred day simple moving average is $40.16. The stock 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 Activity

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

Analysts Set New Price Targets

Several research firms have recently commented on GIS. Bank of America decreased their price objective on General Mills from $42.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. UBS Group cut their price objective on General Mills from $35.00 to $30.00 and set a “sell” rating for the company in a research note on Tuesday, June 2nd. Stifel Nicolaus reduced their target price on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Morgan Stanley decreased their target price on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of General Mills from $36.00 to $31.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $39.39.

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.