American Century Companies Inc. decreased its holdings in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 95.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,088 shares of the company’s stock after selling 2,272,440 shares during the quarter. American Century Companies Inc. owned 0.06% of Blue Buffalo Pet Products worth $2,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Argent Capital Management LLC boosted its holdings in shares of Blue Buffalo Pet Products by 2.5% in the first quarter. Argent Capital Management LLC now owns 20,780 shares of the company’s stock worth $478,000 after buying an additional 500 shares during the last quarter. KBC Group NV boosted its holdings in shares of Blue Buffalo Pet Products by 33.6% in the first quarter. KBC Group NV now owns 16,342 shares of the company’s stock worth $376,000 after buying an additional 4,108 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of Blue Buffalo Pet Products in the first quarter worth approximately $2,300,000. Cipher Capital LP purchased a new position in shares of Blue Buffalo Pet Products in the first quarter worth approximately $983,000. Finally, William Blair Investment Management LLC boosted its holdings in shares of Blue Buffalo Pet Products by 9.5% in the first quarter. William Blair Investment Management LLC now owns 2,446,262 shares of the company’s stock worth $56,264,000 after buying an additional 213,047 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on the stock. Imperial Capital assumed coverage on shares of Blue Buffalo Pet Products in a report on Wednesday, June 28th. They issued an “outperform” rating and a $30.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of Blue Buffalo Pet Products in a report on Wednesday. They issued a “market perform” rating on the stock. BidaskClub downgraded shares of Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Blue Buffalo Pet Products in a report on Thursday, August 10th. Finally, Gabelli assumed coverage on shares of Blue Buffalo Pet Products in a report on Wednesday, September 6th. They issued a “buy” rating and a $33.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.90.

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In other Blue Buffalo Pet Products news, CFO Michael Nathenson sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $25.00, for a total value of $1,250,000.00. Following the sale, the chief financial officer now owns 50,000 shares in the company, valued at approximately $1,250,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 187,072 shares of company stock worth $4,736,802. Insiders own 7.70% of the company’s stock.

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) opened at 25.96 on Thursday. The stock has a market cap of $5.12 billion, a P/E ratio of 36.56 and a beta of 1.91. The firm’s 50-day moving average is $25.83 and its 200 day moving average is $25.00. Blue Buffalo Pet Products, Inc. has a one year low of $21.60 and a one year high of $26.39.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The business had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. During the same quarter in the prior year, the firm posted $0.19 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Blue Buffalo Pet Products, Inc. will post $0.93 EPS for the current fiscal year.

Blue Buffalo Pet Products declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 8th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Blue Buffalo Pet Products 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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