Evercore cuts target for General Mills stock to USD 38.00

Published on 10/20/2026 at 21:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sales fell 3.00 percent in fiscal 2027. General Mills stock costs EUR 29.71 on October 20, 2026, up 1.26 percent versus Frankfurt close.

Target revision and results

Evercore ISI cut its General Mills target from USD 39.00 to USD 38.00 on October 8, 2026.
Fiscal 2027 first-quarter sales fell 3.00 percent to USD 4.39 billion.
General Mills stock costs EUR 29.71 at Lang & Schwarz on October 20, 2026 at 9:03 p.m. CEST, 1.26 percent above the Frankfurt close.

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

Evercore ISI cut its price target for General Mills from USD 39.00 to USD 38.00 on October 8, 2026, according to Yahoo Finance. General Mills stock was trading at EUR 29.71 at Lang & Schwarz on October 20, 2026 at 9:03 p.m. CEST, up 1.26 percent versus the Frankfurt close of October 16, 2026 at EUR 29.34.

Quarterly sales remain under pressure

General Mills reported fiscal 2027 first-quarter net sales of USD 4.39 billion on September 23, 2026, down 3.00 percent from USD 4.52 billion a year earlier. The company attributed the reported decline mainly to the divestiture of its United States yogurt business, while organic net sales were flat, according to the company's General Mills release dated September 23, 2026.

Adjusted operating profit fell 11.00 percent in constant currency to USD 634.00 million in the first quarter of fiscal 2027. Adjusted diluted earnings per share declined 13.00 percent in constant currency to USD 0.75 from USD 0.86, while reported diluted earnings per share fell to USD 0.74 from USD 2.22 because the prior-year period included a major divestiture gain, the company said in the same release.

Stock sits below its yearly high

The New York Stock Exchange listing was at USD 33.36 on October 20, 2026 at 3:06 p.m. ET, according to the market snapshot. Its 52-week range was USD 31.18 to USD 49.71, putting the latest home-market price 32.83 percent below the high and 6.99 percent above the low. The market capitalization was USD 17.8 billion on October 20, 2026.

Target cut meets weaker outlook

Evercore ISI's USD 38.00 target stands 13.60 percent above the EUR 29.71 German-market price only when the currencies are treated separately; the comparison is therefore not an investment return calculation. The relevant operating counterweight is General Mills' fiscal 2027 outlook, which calls for organic net sales between a decline of 1.50 percent and growth of 0.50 percent, adjusted operating profit down 13.00 percent to down 8.00 percent in constant currency, and adjusted diluted earnings between USD 3.00 and USD 3.20 per share, as stated on September 23, 2026.

What the figures mean for valuation

The latest quarter combines a 3.00 percent reported sales decline with flat organic sales and a 13.00 percent adjusted earnings decline. For investors, the target revision and the margin pressure point to a stock story driven more by execution and cost savings than by top-line expansion. General Mills said it expects at least USD 750.00 million of fiscal 2027 savings from productivity and transformation programs.

Price stays above the Frankfurt close

General Mills stock was trading at EUR 29.71 at Lang & Schwarz on October 20, 2026 at 9:03 p.m. CEST, 1.26 percent above the Frankfurt close of October 16, 2026 at EUR 29.34. The further course of trading is shown by the continuously updated real-time quote of General Mills stock.