Montag & Caldwell LLC reduced its position in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 54.7% during the second quarter, Holdings Channel reports. The firm owned 19,074 shares of the company’s stock after selling 23,061 shares during the period. Montag & Caldwell LLC’s holdings in Blue Buffalo Pet Products were worth $435,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of BUFF. FNY Partners Fund LP increased its stake in Blue Buffalo Pet Products by 63.7% in the first quarter. FNY Partners Fund LP now owns 4,500 shares of the company’s stock worth $103,000 after buying an additional 1,751 shares during the period. Russell Investments Group Ltd. bought a new stake in Blue Buffalo Pet Products during the fourth quarter worth approximately $134,000. US Bancorp DE increased its stake in Blue Buffalo Pet Products by 38.5% in the first quarter. US Bancorp DE now owns 7,193 shares of the company’s stock worth $165,000 after buying an additional 2,000 shares during the period. First Mercantile Trust Co. increased its stake in Blue Buffalo Pet Products by 29.0% in the second quarter. First Mercantile Trust Co. now owns 7,539 shares of the company’s stock worth $172,000 after buying an additional 1,693 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Blue Buffalo Pet Products during the first quarter worth approximately $191,000. 88.92% of the stock is owned by institutional investors and hedge funds.

Shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) traded up 0.67% on Friday, hitting $22.70. 54,287 shares of the stock traded hands. Blue Buffalo Pet Products, Inc. has a one year low of $21.51 and a one year high of $26.74. The company has a market cap of $4.47 billion, a PE ratio of 31.97 and a beta of 1.95. The stock has a 50 day moving average of $22.58 and a 200 day moving average of $23.71.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. The firm had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 112.54%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. Equities analysts anticipate that Blue Buffalo Pet Products, Inc. will post $0.92 earnings per share for the current year.

Blue Buffalo Pet Products announced that its board has authorized a share buyback program on Tuesday, August 8th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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A number of research firms have commented on BUFF. Susquehanna Bancshares Inc reaffirmed a “buy” rating and issued a $30.00 target price (down previously from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday. J P Morgan Chase & Co lifted their target price on shares of Blue Buffalo Pet Products from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $25.00 target price (down previously from $29.00) on shares of Blue Buffalo Pet Products in a research report on Thursday. Zacks Investment Research raised shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, BidaskClub cut shares of Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $27.70.

Blue Buffalo Pet Products Company 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.

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

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