Blue Buffalo Pet Products Inc. (BUFF) Trading Up 3.9%
Blue Buffalo Pet Products Inc. (NASDAQ:BUFF)’s share price was up 3.9% on Monday . The company traded as high as $26.02 and last traded at $25.81, with a volume of 506,625 shares. The stock had previously closed at $24.85.
A number of equities analysts have weighed in on BUFF shares. Zacks Investment Research upgraded Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, June 15th. Citigroup Inc. started coverage on Blue Buffalo Pet Products in a report on Tuesday, July 5th. They issued a “buy” rating for the company. Stephens restated a “hold” rating on shares of Blue Buffalo Pet Products in a report on Thursday, June 30th. Finally, Wedbush restated a “neutral” rating and issued a $22.00 price target on shares of Blue Buffalo Pet Products in a report on Wednesday, June 1st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $28.75.
The stock has a market cap of $5.05 billion and a price-to-earnings ratio of 52.55. The stock’s 50 day moving average is $24.94 and its 200-day moving average is $22.35.
Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $279.84 million for the quarter, compared to analysts’ expectations of $274.63 million. The firm’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts predict that Blue Buffalo Pet Products Inc. will post $0.75 earnings per share for the current year.
In other news, Director L.P. Invus sold 15,014,548 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $21.29, for a total transaction of $319,659,726.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kurt Schmidt sold 150,000 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $21.29, for a total value of $3,193,500.00. Following the transaction, the chief executive officer now directly owns 203,571 shares in the company, valued at approximately $4,334,026.59. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently modified their holdings of the company. Swiss National Bank bought a new position in shares of Blue Buffalo Pet Products during the fourth quarter worth approximately $1,050,000. Employees Retirement System of Texas bought a new position in shares of Blue Buffalo Pet Products during the fourth quarter worth approximately $1,141,000. New York State Common Retirement Fund raised 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 raised 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, Sei Investments Co. acquired a new stake in Blue Buffalo Pet Products during the fourth quarter worth about $2,816,000.
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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