Shares of Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) dropped 5.6% during mid-day trading on Thursday . The company traded as low as $24.86 and last traded at $25.33, with a volume of 3,111,201 shares traded. The stock had previously closed at $26.84.

BUFF has been the topic of a number of analyst reports. Zacks Investment Research raised Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, June 15th. Citigroup Inc. lifted their target price on Blue Buffalo Pet Products from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday. Wedbush lifted their target price on Blue Buffalo Pet Products from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, July 14th. Stephens reissued a “hold” rating on shares of Blue Buffalo Pet Products in a report on Thursday, June 30th. Finally, Deutsche Bank AG boosted their price objective on Blue Buffalo Pet Products from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $29.88.

The company’s 50-day moving average is $25.26 and its 200-day moving average is $23.39. The company has a market capitalization of $5.18 billion and a P/E ratio of 53.86.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. The business earned $286.85 million during the quarter, compared to the consensus estimate of $281.90 million. The company’s revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts predict that Blue Buffalo Pet Products Inc. will post $0.76 EPS for the current fiscal year.

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

A number of large investors have recently added to or reduced their stakes in the stock. Swiss National Bank purchased a new stake in Blue Buffalo Pet Products during the fourth quarter worth about $1,050,000. Employees Retirement System of Texas purchased a new stake in Blue Buffalo Pet Products during the fourth quarter worth about $1,141,000. New York State Common Retirement Fund boosted 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 worth $1,607,000 after buying an additional 52,065 shares during the period. State of New Jersey Common Pension Fund D boosted 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 worth $2,713,000 after buying an additional 125,000 shares during the period. Finally, California Public Employees Retirement System purchased a new stake in Blue Buffalo Pet Products during the fourth quarter worth about $3,749,000.

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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