Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 13,950,180 shares, a growth of 34.7% from the August 15th total of 10,358,195 shares. Currently, 7.7% of the company’s shares are short sold. Based on an average daily volume of 1,700,658 shares, the short-interest ratio is presently 8.2 days.

BUFF has been the topic of a number of recent analyst reports. TheStreet raised Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research report on Friday, August 11th. Susquehanna Bancshares Inc set a $32.00 target price on Blue Buffalo Pet Products and gave the stock a “buy” rating in a research report on Thursday, May 25th. Barclays PLC reaffirmed a “buy” rating and set a $27.00 target price on shares of Blue Buffalo Pet Products in a research report on Friday, August 11th. Gabelli initiated coverage on Blue Buffalo Pet Products in a research report on Wednesday, September 6th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Zacks Investment Research raised Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Blue Buffalo Pet Products currently has an average rating of “Buy” and a consensus target price of $28.00.

In other news, CFO Michael Nathenson sold 50,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the sale, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at $1,250,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 187,072 shares of company stock worth $4,736,802 over the last ninety days. 7.70% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of BUFF. Russell Investments Group Ltd. lifted its holdings in Blue Buffalo Pet Products by 812.9% during the first quarter. Russell Investments Group Ltd. now owns 50,720 shares of the company’s stock worth $1,166,000 after acquiring an additional 45,164 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Blue Buffalo Pet Products by 59.7% during the first quarter. Wells Fargo & Company MN now owns 1,414,921 shares of the company’s stock worth $32,543,000 after acquiring an additional 528,903 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Blue Buffalo Pet Products by 50.9% during the first quarter. Great West Life Assurance Co. Can now owns 10,675 shares of the company’s stock worth $245,000 after acquiring an additional 3,600 shares in the last quarter. US Bancorp DE lifted its holdings in Blue Buffalo Pet Products by 38.5% during the first quarter. US Bancorp DE now owns 7,193 shares of the company’s stock worth $165,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Blue Buffalo Pet Products by 1.5% during the first quarter. Swiss National Bank now owns 145,500 shares of the company’s stock worth $3,347,000 after acquiring an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.

Blue Buffalo Pet Products (NASDAQ BUFF) opened at 26.11 on Tuesday. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 36.77 and a beta of 1.91. Blue Buffalo Pet Products has a 52-week low of $21.60 and a 52-week high of $26.39. The company’s 50-day moving average price is $25.88 and its 200 day moving average price is $25.77.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. The firm had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Equities analysts predict that Blue Buffalo Pet Products will post $0.92 earnings per share for the current fiscal year.

Blue Buffalo Pet Products declared that its board has authorized a stock buyback program on Tuesday, August 8th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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About Blue Buffalo Pet Products

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.

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