Stifel analyst Matthew Smith reiterated a Buy rating and $50.00 price target on General Mills (NYSE: GIS)

The analyst commented, "General Mills reported 3Q26 EPS of $0.64, down 37% on a constant currency basis, which was $0.09 below our estimate and the consensus estimate. Organic sales were down -3% with volume down -2% and price/mix down -1%. Organic sales trailed consumption by ~1.5%, a portion of which is expected to benefit 4Q results. The EPS miss relative to our estimate was driven by lower gross margin and a $0.04 drag from a higher tax rate. Gross margin was below our estimate, contracting 280bps versus the prior year and down 420bps on a sequential basis. The company reiterated its FY26 outlook including its organic sales, operating profit, and EPS guidance. We continue with our Buy rating."

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Shares of General Mills closed at $38.74 yesterday.