Los Angeles Capital Management & Equity Research Inc. grew its holdings in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 804.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,461 shares of the company’s stock after buying an additional 142,726 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.08% of Blue Buffalo Pet Products worth $3,660,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FNY Partners Fund LP raised its stake in shares of Blue Buffalo Pet Products by 63.7% in the 1st quarter. FNY Partners Fund LP now owns 4,500 shares of the company’s stock valued at $103,000 after buying an additional 1,751 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Blue Buffalo Pet Products in the 2nd quarter valued at $138,000. US Bancorp DE raised its stake in shares of Blue Buffalo Pet Products by 38.5% in the 1st quarter. US Bancorp DE now owns 7,193 shares of the company’s stock valued at $165,000 after buying an additional 2,000 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of Blue Buffalo Pet Products by 29.0% in the 2nd quarter. First Mercantile Trust Co. now owns 7,539 shares of the company’s stock valued at $172,000 after buying an additional 1,693 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Blue Buffalo Pet Products in the 1st quarter valued at $191,000. Institutional investors own 88.77% of the company’s stock.

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Shares of Blue Buffalo Pet Products, Inc. (NASDAQ BUFF) opened at 25.96 on Thursday. The company’s 50 day moving average is $25.83 and its 200-day moving average is $25.00. Blue Buffalo Pet Products, Inc. has a 12 month low of $21.60 and a 12 month high of $26.39. The firm has a market cap of $5.12 billion, a PE ratio of 36.56 and a beta of 1.91.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced its earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. The company had revenue of $294.80 million during the quarter, compared to analysts’ expectations of $301.88 million. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. Blue Buffalo Pet Products’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 earnings per share. Equities research analysts predict that Blue Buffalo Pet Products, Inc. will post $0.93 EPS for the current year.

Blue Buffalo Pet Products announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 8th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

A number of brokerages have recently issued reports on BUFF. J P Morgan Chase & Co increased their price objective on shares of Blue Buffalo Pet Products from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Blue Buffalo Pet Products in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Sanford C. Bernstein began coverage on shares of Blue Buffalo Pet Products in a research note on Wednesday. They issued a “market perform” rating for the company. Finally, Susquehanna Bancshares Inc restated a “buy” rating and issued a $30.00 price objective (down previously from $32.00) on shares of Blue Buffalo Pet Products in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Blue Buffalo Pet Products currently has an average rating of “Buy” and an average target price of $27.90.

In other news, CFO Michael Nathenson sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $25.00, for a total value of $1,250,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares of the company’s stock, valued at $1,250,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 187,072 shares of company stock valued at $4,736,802. 7.70% of the stock is currently owned by company insiders.

About Blue Buffalo Pet Products

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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