Wells Fargo Updates 2026 Assumptions, Lowers General Mills (GIS) Price Target

General Mills, Inc. (NYSE:GIS) is included among the 13 Best Consumer Staples Dividend Stocks to Invest in Now.

Wells Fargo trimmed its price target on General Mills, Inc. (NYSE:GIS) to $49 from $51. The firm kept an Equal Weight rating on the stock. The adjustment came as the firm rolled multiple models together across beverages, food, and household and personal care, prompting updated targets that stretch into 2026. The change was reiterated in a January 5 note, again citing the broader model aggregation as the main driver rather than a company-specific shift.

Earlier, on December 17, General Mills, Inc. (NYSE:GIS) posted second-quarter results that beat expectations on both sales and profit. Demand stayed resilient as cost-conscious consumers continued to eat more meals at home instead of dining out. That trend supported sales of pantry staples and breakfast items, including brands such as Pillsbury.

Consumer sentiment in the US showed some improvement in early December, though spending behavior remained cautious. Elevated prices and uncertainty around the labor market kept shoppers focused on home-cooked meals. CEO Jeff Harmening described the quarter as a “volatile operating environment,” while also noting “improved momentum” through the first half of the year.

General Mills, Inc. (NYSE:GIS) produces and sells a wide range of branded food products, distributing them through retail channels in the US and international markets.

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