General Mills stock gains 1.07 percent as CEO changes

Published on 10/04/2026 at 11:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

General Mills stock gets a new CEO on January 1, 2027. Fiscal 2027 first-quarter sales fell 3 percent to USD 4.4 billion, while adjusted EPS reached USD 0.75.

Fotorealistisches Innenbild einer Lebensmittelfabrik mit Mahlmaschinen und Förderband — General Mills US3703391032 betreibt moderne Nahrungsmittelproduktion mit industriellen Mahlanlagen, Förderbändern und Abfüllung, Illustration mit AI erstellt.

General Mills stock (ISIN US3703341046) was last at USD 32.01 on the NYSE on October 2, 2026 at 4:00 p.m. ET, up 1.07 percent from the prior close. The food company is preparing for a leadership change announced on September 30, 2026, with Dana McNabb set to become chief executive officer on January 1, 2027.

McNabb takes over in January

According to General Mills on September 30, 2026, McNabb will succeed Jeff Harmening, who becomes executive chair on the same date. McNabb has served as chief operating officer and oversees the company's four operating segments, making the change an internal succession rather than an external reset.

Reuters reported on September 30, 2026, that the appointment comes as General Mills faces high inflation, softer consumer spending and pressure from private-label products. The succession therefore arrives while the company is trying to restore profitable organic growth.

First-quarter margins came under pressure

General Mills reported fiscal 2027 first-quarter results for the period ended August 30, 2026, in a release dated September 23, 2026. According to General Mills, net sales fell 3 percent to USD 4.4 billion, while diluted EPS fell 67 percent to USD 0.74. Adjusted diluted EPS declined 13 percent in constant currency to USD 0.75, and adjusted operating profit fell 11 percent to USD 634.0 million.

The comparison is distorted by the prior-year yogurt divestiture gain, but the operating trend remains important: adjusted operating margin fell to 14.4 percent from 15.7 percent. North America Foodservice sales rose 1 percent to USD 523.1 million, while International sales increased 4 percent to USD 794.3 million.

Consensus target stays above the price

According to Simply Wall St. on October 2, 2026, the consensus covered 18 analysts, with an average one-year target of USD 37.00, a high of USD 45.00 and a low of USD 30.00. The average target lies 15.59 percent above the USD 32.01 reference price, leaving the market focused on whether cost savings and brand investment can offset weak volume.

General Mills stock holds above its yearly low

General Mills stock was last at USD 32.01 on the NYSE on October 2, 2026 at 4:00 p.m. ET, compared with a 52-week range of USD 31.18-51.26 and a market capitalization of USD 17.1 billion. The session volume was 13,642,013 shares, giving the leadership transition and the next earnings update a clear market context.