Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) saw unusually large options trading on Thursday. Investors bought 5,024 call options on the company. This is an increase of approximately Infinity compared to the average daily volume of 0 call options.

A number of analysts recently commented on BUFF shares. Robert W. Baird reaffirmed a “hold” rating and issued a $23.00 price target on shares of Blue Buffalo Pet Products in a research note on Friday, September 1st. Zacks Investment Research lowered Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. J P Morgan Chase & Co lowered Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 17th. BidaskClub raised Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Finally, 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 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $29.80.

Blue Buffalo Pet Products (NASDAQ BUFF) opened at $27.18 on Friday. Blue Buffalo Pet Products has a twelve month low of $21.51 and a twelve month high of $29.84. The company has a current ratio of 4.22, a quick ratio of 4.25 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $5,307.25, a price-to-earnings ratio of 30.54, a PEG ratio of 1.99 and a beta of 1.94.

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

Blue Buffalo Pet Products declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In related news, CFO Michael Nathenson sold 50,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $25.00, for a total value of $1,250,000.00. Following the completion of the sale, the chief financial officer now 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 is accessible through this hyperlink. Also, insider William W. Bishop, Jr. sold 21,655 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $28.78, for a total value of $623,230.90. The disclosure for this sale can be found here. Insiders sold 229,927 shares of company stock valued at $5,965,929 in the last ninety days. 7.70% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of Blue Buffalo Pet Products by 14.8% during the third quarter. Wells Fargo & Company MN now owns 2,448,233 shares of the company’s stock valued at $69,409,000 after acquiring an additional 314,874 shares in the last quarter. Dai Ichi Life Insurance Company Ltd bought a new position in shares of Blue Buffalo Pet Products during the third quarter valued at $4,024,000. JPMorgan Chase & Co. increased its holdings in shares of Blue Buffalo Pet Products by 5,851.4% during the third quarter. JPMorgan Chase & Co. now owns 88,616 shares of the company’s stock valued at $2,530,000 after acquiring an additional 87,127 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Blue Buffalo Pet Products by 60.1% during the third quarter. Legal & General Group Plc now owns 42,187 shares of the company’s stock valued at $1,196,000 after acquiring an additional 15,833 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Blue Buffalo Pet Products by 14.2% during the third quarter. Nordea Investment Management AB now owns 89,771 shares of the company’s stock valued at $2,545,000 after acquiring an additional 11,137 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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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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