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General Mills' stock experienced a 34.5% decline over the year leading up to October 8, 2026, and a 13.5% decrease in the month prior, with a 14.34% decrease in the most recent month. The largest daily positive move was an 8.5% increase on July 1, 2026. In September 2026, Q3 CY2026 results exceeded revenue expectations but showed a 2.8% year-on-year sales decline and a 4% drop in sales volumes, with a decreased operating margin despite beating adjusted EPS estimates. By October 2026, the stock traded near its 52-week low due to GLP-1 demand headwinds, elevated oil-driven input costs, and rising yields. The company completed cash tender offers for senior notes on October 9, 2026. On October 2, 2026, Dana McNabb was announced as the new CEO, effective January 1, 2027, with Jeff Harmening transitioning to executive chair. In June, Bernstein downgraded General Mills to Underperform due to concerns about oil prices, GLP-1 drugs, and inflation, while Jefferies maintained a Hold rating after a fiscal Q4 beat and a $3 billion cost-savings target through FY2030, anticipating lower earnings and margins in fiscal 2027. Investor concerns about a "dividend trap" also emerged in October 2026.