UBS Group AG lowered its position in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 77.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,215 shares of the company’s stock after selling 21,188 shares during the period. UBS Group AG’s holdings in Blue Buffalo Pet Products were worth $143,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its stake in Blue Buffalo Pet Products by 11.1% in the first quarter. Neuberger Berman Group LLC now owns 4,914,387 shares of the company’s stock worth $113,031,000 after buying an additional 489,439 shares during the last quarter. William Blair Investment Management LLC raised its stake in Blue Buffalo Pet Products by 9.5% in the first quarter. William Blair Investment Management LLC now owns 2,446,262 shares of the company’s stock worth $56,264,000 after buying an additional 213,047 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Blue Buffalo Pet Products by 139.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,066,507 shares of the company’s stock worth $47,530,000 after buying an additional 1,202,040 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Blue Buffalo Pet Products by 26.4% in the first quarter. Ameriprise Financial Inc. now owns 1,729,731 shares of the company’s stock worth $39,784,000 after buying an additional 360,858 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Blue Buffalo Pet Products by 59.7% in the first quarter. Wells Fargo & Company MN now owns 1,414,921 shares of the company’s stock worth $32,543,000 after buying an additional 528,903 shares during the last quarter. 88.92% of the stock is owned by institutional investors and hedge funds.

Shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) traded up 1.91% during midday trading on Friday, hitting $22.98. 282,708 shares of the company were exchanged. The company has a 50-day moving average price of $22.58 and a 200-day moving average price of $23.71. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 32.37 and a beta of 1.95. Blue Buffalo Pet Products, Inc. has a 52-week low of $21.51 and a 52-week high of $26.74.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $294.80 million during the quarter, compared to the consensus estimate of $301.88 million. Blue Buffalo Pet Products had a return on equity of 112.54% and a net margin of 12.13%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. On average, analysts forecast that Blue Buffalo Pet Products, Inc. will post $0.92 EPS for the current year.

Blue Buffalo Pet Products announced that its board has approved a share repurchase program on Tuesday, August 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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A number of equities research analysts have recently issued reports on BUFF shares. BidaskClub lowered shares of Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Susquehanna Bancshares Inc set a $32.00 target price on shares of Blue Buffalo Pet Products and gave the stock a “buy” rating in a report on Thursday, May 25th. Imperial Capital started coverage on shares of Blue Buffalo Pet Products in a report on Wednesday, June 28th. They set an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research raised shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Citigroup Inc. raised shares of Blue Buffalo Pet Products from a “buy” rating to a “top pick” rating in a report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.70.

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

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