PDT Partners LLC bought a new position in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 435,800 shares of the company’s stock, valued at approximately $9,941,000. PDT Partners LLC owned 0.22% of Blue Buffalo Pet Products at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Blue Buffalo Pet Products by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,072,744 shares of the company’s stock worth $161,330,000 after acquiring an additional 310,094 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Blue Buffalo Pet Products by 50.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock worth $119,411,000 after acquiring an additional 1,752,086 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Blue Buffalo Pet Products by 69.8% during the 1st quarter. Clearbridge Investments LLC now owns 3,523,195 shares of the company’s stock worth $81,033,000 after acquiring an additional 1,447,859 shares during the period. FMR LLC boosted its stake in shares of Blue Buffalo Pet Products by 360.6% during the 2nd quarter. FMR LLC now owns 3,320,428 shares of the company’s stock worth $75,739,000 after acquiring an additional 2,599,478 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Blue Buffalo Pet Products by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,715,500 shares of the company’s stock worth $61,941,000 after acquiring an additional 488,800 shares during the period. Institutional investors own 88.74% of the company’s stock.

Blue Buffalo Pet Products, Inc. (NASDAQ BUFF) traded down 0.70% during mid-day trading on Friday, reaching $28.35. The company had a trading volume of 1,407,178 shares. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 39.93 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 $28.58. The stock has a 50-day moving average of $25.93 and a 200 day moving average of $25.93.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, meeting the 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 analyst estimates of $301.88 million. During the same period in the prior year, the company earned $0.19 earnings per share. Blue Buffalo Pet Products’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Blue Buffalo Pet Products, Inc. will post $0.92 EPS for the current year.

Blue Buffalo Pet Products declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 8th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Several brokerages have recently commented on BUFF. J P Morgan Chase & Co lifted their target price on Blue Buffalo Pet Products from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of Blue Buffalo Pet Products in a research note on Thursday, August 10th. Zacks Investment Research upgraded Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Susquehanna Bancshares Inc boosted their price target on Blue Buffalo Pet Products from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Thursday, September 21st. Finally, Citigroup Inc. restated a “top pick” rating on shares of Blue Buffalo Pet Products in a research note on Saturday, September 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Blue Buffalo Pet Products currently has an average rating of “Buy” and a consensus price target of $28.82.

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In other Blue Buffalo Pet Products news, CFO Michael Nathenson sold 50,000 shares of the 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 transaction, 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 filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 187,072 shares of company stock valued at $4,736,802. 7.70% of the stock is owned by corporate insiders.

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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