Zacks Research Forecasts Stronger Earnings for General Mills

General Mills, Inc. (NYSE:GIS) – Analysts at Zacks Research boosted their Q3 2027 earnings per share (EPS) estimates for General Mills in a report issued on Wednesday, October 7th. Zacks Research analyst Team now anticipates that the company will post earnings of $0.67 per share for the quarter, up from their previous forecast of $0.64. Zacks Research has a “Hold” rating on the stock. The consensus estimate for General Mills’ current full-year earnings is $3.08 per share. Zacks Research also issued estimates for General Mills’ Q4 2027 earnings at $0.65 EPS, Q3 2028 earnings at $0.76 EPS, Q4 2028 earnings at $0.70 EPS and FY2028 earnings at $3.19 EPS.

A number of other research firms also recently commented on GIS. JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd. TD Cowen raised their price target on shares of General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, September 24th. Bank of America reaffirmed a “neutral” rating on shares of General Mills in a report on Thursday, September 24th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $30.00 price objective on shares of General Mills in a research report on Thursday, September 24th. Finally, Wells Fargo & Company increased their price objective on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $36.59.

General Mills Stock Performance

GIS stock opened at $32.62 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.66. The firm has a market cap of $17.44 billion, a P/E ratio of -19.65, a P/E/G ratio of 1.72 and a beta of 0.03. General Mills has a 12-month low of $31.17 and a 12-month high of $49.96. The stock’s 50 day simple moving average is $36.84 and its 200 day simple moving average is $35.84.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 23rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. General Mills had a positive return on equity of 21.86% and a negative net margin of 4.89%.The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter last year, the business posted $0.86 EPS. General Mills’s quarterly revenue was down 2.8% compared to the same quarter last year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Tuesday, October 13th. General Mills’s dividend payout ratio (DPR) is presently -146.99%.

Hedge Funds Weigh In On General Mills

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of General Mills in the second quarter valued at approximately $2,181,608,000. Bank of New York Mellon Corp acquired a new position in shares of General Mills during the second quarter worth approximately $129,298,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of General Mills during the second quarter worth approximately $126,097,000. Legal & General Group Plc bought a new position in General Mills in the 2nd quarter worth approximately $121,707,000. Finally, Deutsche Bank AG bought a new position in General Mills in the 2nd quarter worth approximately $105,889,000. Institutional investors own 75.71% of the company’s stock.

Key General Mills News

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: Zacks Research raised its FY2029 EPS estimate to $3.28 from $3.26 and lifted its Q3 2027 forecast to $0.67 from $0.64. It also increased its Q3 2028 estimate to $0.76 from $0.65 and FY2028 to $3.19 from $3.18, providing some longer-term support for GIS.
• Positive Sentiment: General Mills has a lengthy dividend history of 127 consecutive years and a yield above 7%, which may attract income-focused investors despite the company’s operational challenges. Is General Mills a Dividend Stock Worth Owning or a Value Trap?
• Neutral Sentiment: Zacks Research maintained a “Hold” rating. Its current-year consensus EPS estimate remains $3.08, suggesting analysts see limited near-term catalysts while awaiting clearer evidence of an earnings recovery.
• Negative Sentiment: Zacks cut estimates for Q4 2027 EPS to $0.65 from $0.69, Q4 2028 EPS to $0.70 from $0.74, Q1 2028 EPS to $0.77 from $0.80, Q2 2028 EPS to $0.96 from $0.99, Q2 2027 EPS to $0.96 from $0.98, and FY2027 EPS to $3.03 from $3.04. These revisions indicate uneven expectations and could weigh on the stock.
• Negative Sentiment: The dividend’s unusually high yield comes as the shares trade near decade lows, while profits have declined and debt has increased. The combination raises questions about dividend sustainability and may explain why investors view the stock as either a bargain or a potential value trap. Is General Mills a Dividend Stock Worth Owning or a Value Trap?

General Mills Company Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its products include cereal, snack bars, refrigerated dough, baking mixes, yogurt, soup, meals, frozen foods, and pet food, serving retail, foodservice, and pet channels.

The company’s portfolio includes well-known brands such as Cheerios, Betty Crocker, Pillsbury, Nature Valley, Yoplait, Häagen-Dazs, Old El Paso, Progresso, Totino’s, Annie’s, and Blue Buffalo. General Mills sells its products primarily in the United States and also serves consumers in international markets across multiple regions.

General Mills traces its history to the Minneapolis Milling Company, established in 1856, and adopted the General Mills name following a 1928 combination of several milling businesses.