BT Investment Management Ltd purchased a new position in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,007 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Blue Buffalo Pet Products by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 13,046 shares of the company’s stock worth $300,000 after acquiring an additional 56 shares in the last quarter. NGAM Advisors L.P. grew its stake in shares of Blue Buffalo Pet Products by 0.4% during the 2nd quarter. NGAM Advisors L.P. now owns 27,961 shares of the company’s stock worth $638,000 after acquiring an additional 105 shares in the last quarter. Argent Capital Management LLC grew its stake in shares of Blue Buffalo Pet Products by 2.5% during the 1st quarter. Argent Capital Management LLC now owns 20,780 shares of the company’s stock worth $478,000 after acquiring an additional 500 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Blue Buffalo Pet Products by 1.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 51,625 shares of the company’s stock worth $1,178,000 after acquiring an additional 730 shares in the last quarter. Finally, Gradient Investments LLC grew its stake in shares of Blue Buffalo Pet Products by 6.2% during the 2nd quarter. Gradient Investments LLC now owns 13,925 shares of the company’s stock worth $318,000 after acquiring an additional 817 shares in the last quarter. 88.74% of the stock is owned by institutional investors.

Shares of Blue Buffalo Pet Products, Inc. (NASDAQ BUFF) opened at 27.36 on Friday. The stock has a 50 day moving average price of $25.93 and a 200 day moving average price of $25.93. The firm has a market cap of $5.39 billion, a P/E ratio of 38.54 and a beta of 1.91. Blue Buffalo Pet Products, Inc. has a 12-month low of $21.60 and a 12-month high of $27.45.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The business had revenue of $294.80 million during the quarter, compared to the consensus estimate of $301.88 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Blue Buffalo Pet Products’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Blue Buffalo Pet Products, Inc. will post $0.92 earnings per share for the current year.

Blue Buffalo Pet Products announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Several equities analysts have recently weighed in on the stock. TheStreet raised shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research note on Friday, August 11th. J P Morgan Chase & Co raised their price target on shares of Blue Buffalo Pet Products from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, August 21st. BidaskClub cut shares of Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $25.00 price target (down from $29.00) on shares of Blue Buffalo Pet Products in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded Blue Buffalo Pet Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.18.

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In related news, CFO Michael Nathenson sold 50,000 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares in the company, valued at $1,250,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 187,072 shares of company stock valued at $4,736,802 in the last quarter. 7.70% of the stock is currently owned by corporate insiders.

Blue Buffalo Pet Products 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.

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

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