Wells Fargo & Company MN raised its stake in shares of Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) by 553.1% during the third quarter, Holdings Channel reports. The institutional investor owned 507,431 shares of the company’s stock after buying an additional 429,734 shares during the period. Wells Fargo & Company MN’s holdings in Blue Buffalo Pet Products were worth $12,056,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. First Mercantile Trust Co. increased its stake in shares of Blue Buffalo Pet Products by 51.7% in the second quarter. First Mercantile Trust Co. now owns 13,500 shares of the company’s stock valued at $315,000 after buying an additional 4,600 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Blue Buffalo Pet Products by 30.6% in the second quarter. California Public Employees Retirement System now owns 247,700 shares of the company’s stock valued at $5,781,000 after buying an additional 58,100 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Blue Buffalo Pet Products by 2.1% in the second quarter. Legal & General Group Plc now owns 5,655 shares of the company’s stock valued at $132,000 after buying an additional 116 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Blue Buffalo Pet Products during the second quarter valued at approximately $803,000. Finally, Henderson Group PLC acquired a new stake in shares of Blue Buffalo Pet Products during the second quarter valued at approximately $1,751,000. Institutional investors and hedge funds own 85.32% of the company’s stock.

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

Shares of Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) traded down 0.04% during trading on Wednesday, reaching $23.43. The company had a trading volume of 302,487 shares. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 44.12 and a beta of 2.27. The company’s 50 day moving average is $24.20 and its 200-day moving average is $25.00. Blue Buffalo Pet Products Inc. has a 1-year low of $15.19 and a 1-year high of $27.50.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $288 million for the quarter, compared to analyst estimates of $290.29 million. Blue Buffalo Pet Products had a net margin of 9.38% and a return on equity of 242.34%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. On average, equities research analysts anticipate that Blue Buffalo Pet Products Inc. will post $0.79 earnings per share for the current year.

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Several analysts have commented on BUFF shares. Zacks Investment Research downgraded Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Susquehanna started coverage on Blue Buffalo Pet Products in a research note on Monday, October 24th. They set a “positive” rating and a $30.00 target price on the stock. Oppenheimer Holdings Inc. started coverage on Blue Buffalo Pet Products in a research note on Thursday, September 8th. They set an “outperform” rating and a $30.00 target price on the stock. DA Davidson restated a “buy” rating and issued a $29.00 price target on shares of Blue Buffalo Pet Products in a research note on Monday, November 7th. Finally, Citigroup Inc. raised their price target on Blue Buffalo Pet Products from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Blue Buffalo Pet Products currently has an average rating of “Buy” and a consensus target price of $29.00.

In other Blue Buffalo Pet Products news, CEO Kurt Schmidt sold 50,000 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $24.83, for a total value of $1,241,500.00. Following the sale, the chief executive officer now directly owns 103,571 shares of the company’s stock, valued at $2,571,667.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director L.P. Invus sold 12,512,124 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $24.83, for a total transaction of $310,676,038.92. The disclosure for this sale can be found here. Insiders own 10.30% of the company’s stock.

About Blue Buffalo Pet Products

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.

5 Day Chart for NASDAQ:BUFF

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