Point72 Asset Management L.P. bought a new stake in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,687,500 shares of the company’s stock, valued at approximately $47,841,000. Point72 Asset Management L.P. owned 0.86% of Blue Buffalo Pet Products at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BUFF. Advisor Group Inc. lifted its holdings in Blue Buffalo Pet Products by 6.5% during the second quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock valued at $103,000 after purchasing an additional 277 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Blue Buffalo Pet Products by 9.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock valued at $138,000 after purchasing an additional 533 shares in the last quarter. SG Americas Securities LLC purchased a new position in Blue Buffalo Pet Products during the second quarter valued at approximately $138,000. First Mercantile Trust Co. lifted its holdings in Blue Buffalo Pet Products by 29.0% during the second quarter. First Mercantile Trust Co. now owns 7,539 shares of the company’s stock valued at $172,000 after purchasing an additional 1,693 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Blue Buffalo Pet Products by 62.9% during the third quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the company’s stock valued at $184,000 after purchasing an additional 2,494 shares in the last quarter. Institutional investors own 95.24% of the company’s stock.

Several equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Blue Buffalo Pet Products to a “buy” rating and set a $36.00 target price on the stock in a report on Friday. J P Morgan Chase & Co downgraded shares of Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a report on Tuesday, October 17th. Zacks Investment Research raised shares of Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, October 10th. Oppenheimer reissued a “buy” rating and issued a $32.00 target price (up previously from $25.00) on shares of Blue Buffalo Pet Products in a report on Wednesday, September 27th. Finally, Susquehanna Bancshares set a $34.00 target price on shares of Blue Buffalo Pet Products and gave the stock a “buy” rating in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.36.

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) opened at $32.49 on Tuesday. Blue Buffalo Pet Products, Inc. has a 1-year low of $21.51 and a 1-year high of $32.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 4.22 and a quick ratio of 3.62. The company has a market cap of $6,238.66, a price-to-earnings ratio of 35.90, a PEG ratio of 2.41 and a beta of 1.95.

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

In related news, CEO William W. Bishop, Jr. sold 3,180 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $28.02, for a total transaction of $89,103.60. Following the sale, the chief executive officer now owns 648,730 shares of the company’s stock, valued at $18,177,414.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total transaction of $605,896.00. Following the sale, the insider now directly owns 655,090 shares in the company, valued at approximately $18,722,472.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,235 shares of company stock worth $1,969,071. 7.70% of the stock is owned by insiders.

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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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