Long in the making, General Mills' (NYSE: GIS) stock price bottom was reached in early 2026, and a price recovery lies ahead. Driven by portfolio repositioning and cost-cutting efforts, the multiyear downtrend in the stock price has put this market at a deep value, below 10x trailing earnings, setting it up not only for growth-supported share price appreciation but also for price-multiple expansion. In this scenario, GIS shares could revert to historical highs and potentially trend higher—with the company maintaining its high-yielding dividend in the meantime.
The company is a solid dividend payer, yielding 6.5% with shares trading near 2026 lows. The 6.5% yield raises a red flag, as high yields often precede a distribution cut or suspension, but the risks are limited for GIS investors. Not only is dividend coverage sufficient, but it is also improving; cash flow is expected to strengthen over time, and share buybacks are working their magic.
