Blue chips don't get much bluer than this stock. It is a low-risk stock that consistently delivers dividends and has trended up steadily over the last decade no matter what the market has thrown at it.

This stock is none other than General Mills (GIS).

General Mills is one of the largest food companies in the world, and its brand names are instantly recognized by millions of consumers. I'm sure you're familiar with their great cereal business which features all-American names like Cheerios and Wheaties. The company also owns Betty Crocker, Green Giant and Hamburger Helper. It's hard to find a home in America that doesn't have some product from General Mills.

But not all companies with name recognition are poised for success. After all, my first priority is to find fundamentally strong companies no matter what sector they are in or how popular they are. But it certainly helps to have that name recognition alongside top-notch business practices.

Here's a concrete example: A few years ago, General Mills bought Pillsbury from Diageo. Normally, I don't like big acquisitions because it's too hard to merge corporate cultures, but in this case, I think General Mills made a very shrewd move. The Dough-Boy buy has dramatically increased General Mills presence in several product lines—not just in name recognition, but in profitability. The result is a firm foundation and steady returns that beat the market—precisely what I look for in my Blue Chip Growth stocks.

I'll admit that it's not as sexy as some high-tech start in Silicon Valley, but the difference is that General Mills turns out a consistent profit, year after year. You remember profits, don't you? Let's just say that Congress won't have to bailout America's distressed cereal companies anytime soon!

I don't have to play guessing games with General Mills—with investing, I never take unnecessary risks. If other investors think General Mills is boring, fine—that just leaves more shares for smart buyers like you and me! (See also: "Balancing Risks & Rewards to Profit in This Market.")

Consider that since 1980 shares of General Mills are up over 2,000%. That performance is far ahead of the rest of the stock market. And that doesn't include dividends that have a nice history of rising every year. In fact, General Mills has paid a dividend every year for 110 years. Best of all, the stock is down sharply in the past week, making it an even more attractive value.

Are you interested now? Good! Now let's take a closer look at why General Mills continues to grow its earnings and sales, and why the stock will continue to move steadily upward in the months and even years ahead:

The PortfolioGrader Pro Advantage

If you enter the ticker GIS into my PortfolioGrader Pro stock-rating service, you'll see that General Mills is rated "A – Strong Buy." The overall grade is based on General Mills' Quantitative Grade, which is an A, and it's Fundamental Grade, which is a B.

What do these grades mean? Well…