Blue Buffalo Pet Products Inc. (NASDAQ:BUFF)’s share price traded down 5.6% on Thursday . The company traded as low as $24.86 and last traded at $25.33, with a volume of 3,111,201 shares. The stock had previously closed at $26.84.

BUFF has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Tuesday, July 19th. Wedbush restated a “neutral” rating and set a $25.00 price target (up from $24.00) on shares of Blue Buffalo Pet Products in a report on Wednesday. Deutsche Bank AG boosted their price target on shares of Blue Buffalo Pet Products from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Blue Buffalo Pet Products from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Stephens restated a “hold” rating on shares of Blue Buffalo Pet Products in a report on Thursday, June 30th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.88.

The firm has a market capitalization of $5.04 billion and a P/E ratio of 52.41. The stock’s 50 day moving average price is $25.21 and its 200 day moving average price is $23.31.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its earnings results on Wednesday, August 10th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business earned $286.85 million during the quarter, compared to analysts’ expectations of $281.90 million. Blue Buffalo Pet Products’s revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that Blue Buffalo Pet Products Inc. will post $0.75 earnings per share for the current fiscal year.

In other Blue Buffalo Pet Products news, CEO Kurt Schmidt sold 150,000 shares of Blue Buffalo Pet Products stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $21.29, for a total transaction of $3,193,500.00. Following the completion of the transaction, the chief executive officer now directly owns 203,571 shares of the company’s stock, valued at $4,334,026.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director L.P. Invus sold 15,014,548 shares of Blue Buffalo Pet Products stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $21.29, for a total transaction of $319,659,726.92. The disclosure for this sale can be found here.

Other hedge funds recently modified their holdings of the company. Swiss National Bank purchased a new stake in Blue Buffalo Pet Products during the fourth quarter valued at $1,050,000. California Public Employees Retirement System purchased a new stake in Blue Buffalo Pet Products during the fourth quarter valued at $3,749,000. New York State Common Retirement Fund increased its stake in Blue Buffalo Pet Products by 153.9% in the fourth quarter. New York State Common Retirement Fund now owns 85,900 shares of the company’s stock valued at $1,607,000 after buying an additional 52,065 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Blue Buffalo Pet Products by 625.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 145,000 shares of the company’s stock valued at $2,713,000 after buying an additional 125,000 shares during the last quarter. Finally, Eaton Vance Management purchased a new stake in Blue Buffalo Pet Products during the fourth quarter valued at $15,346,000.

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under the BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines. Blue Buffalo Company, Ltd. (Blue), Blue Buffalo Import Mexico, S.

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