What's Going On With General Mills Stock Thursday?

General Mills Inc. (NYSE:GIS) stock traded lower Thursday after Piper Sandler analyst Michael Lavery downgraded the packaged food giant from Overweight to Neutral and reduced his price forecast.

Lavery lowered his price forecast from $41 to $35, a 14.6% cut.

The downgrade comes as the Cheerios maker prepares for a major leadership transition and operating overhaul while reportedly exploring a potential sale of its international Häagen-Dazs business.

General Mills Restructures Operations Ahead Of CEO Transition

On Tuesday, General Mills announced a new operating structure aimed at accelerating growth and improving decision-making.

Starting Jan. 1, 2027, the company will operate through three segments: Cereal, Snacks & International; Meals & Baking Solutions; and Pet.

The company will also combine marketing, sales and consumer analytics under a new commercial function.

Meanwhile, Dana McNabb will succeed Jeff Harmening as CEO on Jan. 1. Harmening will become executive chair.

McNabb, a 27-year company veteran, has identified restoring profitable growth and modernizing operations as key priorities.

Eyes Potential Exit From Overseas Häagen-Dazs Business

Separately, General Mills is considering separating its Häagen-Dazs ice cream operations outside North America, potentially through a sale, The Wall Street Journal reported on Nov. 5, citing people familiar with the matter.

The discussions remain preliminary, and General Mills could retain the business.

The review follows the company’s June decision to sell Häagen-Dazs-branded shops in mainland China to an investor group.

General Mills’ super-premium ice cream category generated $782.7 million in fiscal 2026 sales, according to the report.

GIS Price Action

GIS Stock Price Activity: General Mills shares were down 0.37% at $34.09 during premarket trading on Thursday, according to Benzinga Pro data.

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