Blair William & Co. IL Decreases Holdings in Blue Buffalo Pet Products, Inc. (BUFF)

Blair William & Co. IL cut its holdings in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 24.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,577 shares of the company’s stock after selling 3,967 shares during the quarter. Blair William & Co. IL’s holdings in Blue Buffalo Pet Products were worth $287,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Blue Buffalo Pet Products by 50.3% in the second quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock valued at $119,411,000 after purchasing an additional 1,752,086 shares in the last quarter. Clearbridge Investments LLC grew its position in Blue Buffalo Pet Products by 69.8% in the first quarter. Clearbridge Investments LLC now owns 3,523,195 shares of the company’s stock valued at $81,033,000 after acquiring an additional 1,447,859 shares during the period. Massachusetts Financial Services Co. MA grew its position 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 valued at $47,530,000 after acquiring an additional 1,202,040 shares during the period. Mackenzie Financial Corp bought a new stake in Blue Buffalo Pet Products in the first quarter valued at $24,304,000. Finally, Renaissance Technologies LLC grew its position in Blue Buffalo Pet Products by 88.5% in the first quarter. Renaissance Technologies LLC now owns 2,226,700 shares of the company’s stock valued at $51,214,000 after acquiring an additional 1,045,700 shares during the period. Institutional investors own 88.74% of the company’s stock.

A number of analysts have weighed in on BUFF shares. TheStreet upgraded Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research report on Friday, August 11th. Susquehanna Bancshares Inc reiterated a “buy” rating and issued a $30.00 price target (down from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. Barclays PLC reiterated a “buy” rating and issued a $27.00 price target on shares of Blue Buffalo Pet Products in a research report on Friday, August 11th. Gabelli initiated coverage on Blue Buffalo Pet Products in a report on Wednesday, September 6th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Zacks Investment Research upgraded Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $28.18.

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Blue Buffalo Pet Products, Inc. (BUFF) opened at 27.36 on Friday. Blue Buffalo Pet Products, Inc. has a 1-year low of $21.60 and a 1-year high of $27.45. The firm 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 price-to-earnings ratio of 38.54 and a beta of 1.91.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. The firm had revenue of $294.80 million during the quarter, compared to analyst estimates of $301.88 million. During the same period last year, the business earned $0.19 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. Equities analysts predict that Blue Buffalo Pet Products, Inc. will post $0.92 earnings per share for the current year.

Blue Buffalo Pet Products declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other news, CFO Michael Nathenson sold 50,000 shares of Blue Buffalo Pet Products stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $25.77, for a total transaction of $1,288,500.00. Following the completion of the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at $1,288,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 187,072 shares of company stock valued at $4,736,802 over the last quarter. Company insiders own 7.70% of the company’s stock.

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.

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

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