OLD National Bancorp IN Sells 2,686 Shares of General Mills, Inc. (NYSE:GIS)

OLD National Bancorp IN trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 22,269 shares of the company’s stock after selling 2,686 shares during the quarter. OLD National Bancorp IN’s holdings in General Mills were worth $1,409,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of General Mills by 0.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 155,908 shares of the company’s stock worth $10,156,000 after buying an additional 691 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of General Mills by 26.4% during the 4th quarter. Bleakley Financial Group LLC now owns 16,098 shares of the company’s stock worth $1,049,000 after buying an additional 3,367 shares during the last quarter. Strategic Blueprint LLC lifted its position in shares of General Mills by 54.6% during the 4th quarter. Strategic Blueprint LLC now owns 5,534 shares of the company’s stock worth $360,000 after buying an additional 1,954 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of General Mills by 7.4% during the 4th quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock worth $512,000 after buying an additional 539 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in shares of General Mills by 8.9% during the 4th quarter. HBK Sorce Advisory LLC now owns 8,202 shares of the company’s stock worth $534,000 after buying an additional 670 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GIS shares. Citigroup dropped their price objective on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Stifel Nicolaus dropped their target price on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and increased their target price for the company from $62.00 to $70.00 in a research report on Wednesday, May 15th. Wells Fargo & Company dropped their target price on General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. dropped their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and an average target price of $68.82.

General Mills Trading Up 0.2 %

NYSE GIS traded up $0.11 during trading hours on Friday, hitting $69.15. 1,999,436 shares of the company’s stock were exchanged, compared to its average volume of 4,068,787. The stock has a 50-day simple moving average of $65.75 and a 200 day simple moving average of $66.86. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $74.45. The firm has a market cap of $38.60 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 3.83 and a beta of 0.09. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post 4.49 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.47%. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the transaction, the insider now owns 17,397 shares in the company, valued at $1,227,706.29. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.

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.