Neuberger Berman Group LLC lessened its stake in shares of Blue Buffalo Pet Products Inc (NASDAQ:BUFF) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,274,606 shares of the company’s stock after selling 472,829 shares during the period. Neuberger Berman Group LLC owned about 2.19% of Blue Buffalo Pet Products worth $121,185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BUFF. Advisor Group Inc. raised its holdings in Blue Buffalo Pet Products by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after buying an additional 277 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Blue Buffalo Pet Products by 9.6% during the 2nd quarter. 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 period. SG Americas Securities LLC acquired a new stake in Blue Buffalo Pet Products during the 2nd quarter worth about $138,000. First Mercantile Trust Co. raised its holdings in Blue Buffalo Pet Products by 29.0% during the 2nd quarter. First Mercantile Trust Co. now owns 7,539 shares of the company’s stock worth $172,000 after buying an additional 1,693 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Blue Buffalo Pet Products by 62.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the company’s stock worth $184,000 after buying an additional 2,494 shares during the period. Hedge funds and other institutional investors own 95.24% of the company’s stock.

Several analysts have issued reports on the company. Deutsche Bank downgraded Blue Buffalo Pet Products from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a report on Wednesday. Wells Fargo & Company upgraded Blue Buffalo Pet Products to a “buy” rating and set a $36.00 price objective on the stock in a report on Friday, December 8th. BidaskClub cut Blue Buffalo Pet Products from a “strong-buy” rating to a “buy” rating in a research note on Friday. J P Morgan Chase & Co cut Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 17th. Finally, Zacks Investment Research raised Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $30.67.

In related news, insider William W. Bishop, Jr. sold 21,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $28.58, for a total value of $605,896.00. Following the completion of the sale, the insider now owns 655,090 shares of the company’s stock, valued at approximately $18,722,472.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider William W. Bishop, Jr. sold 21,655 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $28.78, for a total value of $623,230.90. The disclosure for this sale can be found here. In the last three months, insiders sold 88,435 shares of company stock valued at $2,652,771. 7.70% of the stock is currently owned by company insiders.

Blue Buffalo Pet Products Inc (NASDAQ:BUFF) opened at $31.06 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.62 and a current ratio of 4.22. Blue Buffalo Pet Products Inc has a 12 month low of $21.51 and a 12 month high of $32.67. The firm has a market capitalization of $6,240.61, a PE ratio of 35.91, a price-to-earnings-growth ratio of 2.19 and a beta of 1.95.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $340.85 million for the quarter, compared to analysts’ expectations of $323.05 million. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. equities research analysts forecast that Blue Buffalo Pet Products Inc will post 0.91 earnings per share for the current year.

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Blue Buffalo Pet Products Company Profile

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company operates as a pet food company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under product lines, including BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines.

Institutional Ownership by Quarter for Blue Buffalo Pet Products (NASDAQ:BUFF)

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