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General Mills to buy natural pet food company Blue Buffalo

General Mills to buy natural pet food company Blue Buffalo

Blue Buffalo shares were trading just shy of the $40 mark Friday morning, indicating a high level of confidence that the deal will go through as negotiated. About 18.36 million shares traded or 1520.21% up from the average. JP Morgan initiated Blue Buffalo Pet Products, Inc. They expect $0.21 earnings per share, up 16.67% or $0.03 from last year's $0.18 per share. The business had revenue of $336.96 million for the quarter, compared to analysts' expectations of $320.58 million. Over the last three months, insiders have sold 214,288 shares of company stock valued at $6,977,870.

TRADEMARK VIOLATION WARNING: "Blue Buffalo Pet Products Inc (BUFF) Position Raised by Victory Capital Management Inc." was originally reported by BBNS and is owned by of BBNS.

Blue Buffalo Pet Products, Inc., through its subsidiary, Blue Buffalo Company, Ltd., operates as a pet food firm in the United States, Canada, Japan, and Mexico. Finally, Barclays reaffirmed a "buy" rating and issued a $29.00 price objective on shares of Blue Buffalo Pet Products in a research note on Friday, November 10th.

It will fund the acquisition with debt, cash on hand and about $1 billion in equity. Wells Fargo & Company MN now owns 2,448,233 shares of the company's stock valued at $69,409,000 after purchasing an additional 314,874 shares in the last quarter. JP Morgan maintained Blue Buffalo Pet Products, Inc. This indicates more upside for the $7.79B company.

Several analysts have commented on the stock. Public Employees Retirement Association of Colorado now owns 850,692 shares of the company's stock valued at $24,117,000 after buying an additional 847,754 shares during the last quarter.

"Everybody is wanting to feed better quality foods for all of their family members", said Billy Bishop, Blue Buffalo CEO and a co-founder with his father and brother. More interesting news about Blue Buffalo Pet Products, Inc. The Manufacturers Life Insurance Company now owns 6,070 shares of the company's stock worth $138,000 after buying an additional 533 shares during the last quarter. (NASDAQ:BUFF) were released by: Globenewswire.com and their article: "Blue Buffalo Pet Products, Inc".

Shares of Blue Buffalo were trading a tick above General Mills' offer before the official market open Friday, but as was the case with Bob Evans Farms past year, I would caution investors to not expect a bidding war at this high a price. The company presently has an average rating of "Buy" and an average target price of $32.54.

If you are reading this report on another site, it was illegally copied and reposted in violation of United States & worldwide copyright laws.

But there are limits to how much buyers are willing to spend, said Jagdale, who doesn't see another company stepping forward to acquire Blue Buffalo. If you are reading this story on another site, it was stolen and reposted in violation of US & worldwide copyright and trademark law. To me, it makes a lot of sense to get into beverages, snack food and/or pet food. Natural pet food is the fastest-growing part of the pet-food market, according to the Wall Street Journal.

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