Stock Update: General Mills, Inc. (NYSE:GIS)

General Mills, Inc. (NYSE:GIS) announced that its tender offer to purchase all issued and outstanding shares of common stock of Annie's, Inc. (BNNY) at a price of $46.00 per share was successful and that it has completed its acquisition of Annie's, effective as of October 21, 2014.The tender offer expired at 12:00 midnight, New York City time, at the end of the day on Monday, October 20, 2014. The depositary for the tender offer has advised that, as of such time, a total of 14,481,203 shares were validly tendered and not withdrawn in the tender offer, representing approximately 84% of Annie's outstanding shares.Stock PerformanceTaking a look at the company’s recent performance, General Mills reported First quarter earnings for fiscal 2015 on September 09^th. The company reported actual earnings per share of $0.61 against the consensus Street estimate of $0.69. This represents year over year decline of 0.09%. General Mills posted revenue of $4.28 billion against estimates of $4.42 billion.General Mills (GIS) is currently valued at $30.617 billion and closed the last trading session at $50.46. The stock has a 50-day moving average of $52.23and a 200-day moving average of $52.68.

Is this a Buying Opportunity?There are currently thirteen analysts that we track that cover the stock. Of those thirteen, four have a Buy rating, six have a hold rating and three have a Sell rating. On a consensus basis this yields a score of 2.08 and a Hold. The combined price objective of these covering analysts is $51.55, which represents a 2.13% upside difference to the last closing price.The most recent analyst activity consisted of Zacks Investment Research reiterated rating their Neutral stance on the company. Zacks has a price target of $53.00 which represents an upside of 5.80% from the last closing price. On the date of the report, the stock closed at $51.22.Another research firm weighing in recently was Societe Generale who downgraded their hold rating on the stock. On September 17^th Societe Generale boosted their price target on the stock from $53.00 to $55.00, or a 8.20% upside to the current price. On the day of the report, General Mills shares closed at $50.83.Company ProfileGeneral Mills (NYSE:GIS) manufactures and markets branded consumer foods in the United States and internationally. It also supplies branded and unbranded food products to the foodservice and commercial baking industries. The company operates in three segments: U.S. Retail, International, and Convenience Stores and Foodservice. Its products include ready-to-eat cereals; convenient meals, including meal kits, ethnic meals, pizza, frozen breakfast, and frozen entrees; snacks comprising grain, fruit, and savory snacks, as well as nutrition bars and frozen hot snacks; refrigerated yogurt products; ice creams; baking mixes and ingredients; refrigerated and frozen dough products; and frozen and shelf-stable vegetable products. In addition, the company’s products comprise organic products, such as granola bars, cereals, and soups.