General Mills Reshapes Leadership and Sheds Brazil Unit as Shares Languish Near 52-Week Low

General Mills restructures leadership and portfolio, appoints Dana McNabb COO, divests Brazil operations for margin expansion, as stock hits 52-week low with 7.4% dividend yield.

General Mills is pressing ahead with a sweeping overhaul of its C-suite and portfolio just as its stock hits fresh lows. The packaged-food giant will appoint Dana McNabb as chief operating officer effective June 1, 2026, placing her in charge of all operating segments along with global functions such as supply chain and digital transformation. McNabb previously ran the North American retail and pet food businesses. To lock in key executives, the company is also awarding equity packages to CFO Kofi A. Bruce and digital chief Jaime Montemayor.

The restructuring extends to the balance sheet. General Mills plans to divest its Brazil operations, including local brands Yoki and Kitano, to the Brazilian firm 3corações. The business generated roughly $350 million in revenue last fiscal year. The deal is expected to close by the end of 2026 and should help widen the company’s overall operating margin.

Meanwhile, the stock is under severe pressure. On May 16, shares touched a 52-week low of $32.91, and they closed the following Friday at $32.99. Over the past three months, the equity has lost roughly a third of its value. The slide has pushed the dividend yield to an eye-catching 7.4%, supported by a quarterly payout of 61 cents per share and a payout ratio of 59.5%. For income-focused investors, that yield offers a cushion, but it also reflects deep market skepticism about the company’s near-term prospects.

Wall Street has responded with a fresh round of price-target cuts. Barclays lowered its target from $41 to $36 while maintaining an Equal Weight rating. Piper Sandler trimmed its target from $45 to $41 but kept an Overweight call. TD Cowen went further, reducing its target from $37 to $32 and sticking with a Hold rating. The average analyst price target still sits at roughly $42, implying substantial upside from current levels, but the majority of ratings lean toward caution.

Management is betting on the fourth quarter to reverse the narrative. On July 1, 2026, General Mills will report results for its final fiscal period. CEO Jeff Harmening expects a noticeable improvement, citing a favorable calendar effect — the current fiscal year includes a 53rd week — and stabilizing market share. Organic revenue for the full year is still forecast to slip slightly, and adjusted earnings per share are seen falling 16% to 20%. A key wild card is the pet food segment, where retailers hold heavy inventories and demand is shifting online. The company’s promotional push in May will be judged when Q4 numbers land in early July.

For now, the technical chart sets up a critical test. The $32.91 level marks last year’s low; a break below that could trigger further selling. If the support holds, the high dividend yield provides a floor that might encourage a bounce — but much depends on whether the operational turnaround delivers on its promises.