Ameriprise Financial Inc. lowered its position in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,497,249 shares of the company’s stock after selling 232,482 shares during the period. Ameriprise Financial Inc. owned about 0.76% of Blue Buffalo Pet Products worth $34,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. FNY Partners Fund LP lifted its position in shares of Blue Buffalo Pet Products by 63.7% during the 1st quarter. FNY Partners Fund LP now owns 4,500 shares of the company’s stock valued at $103,000 after acquiring an additional 1,751 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Blue Buffalo Pet Products during the 2nd quarter valued at approximately $138,000. US Bancorp DE lifted its position in shares of Blue Buffalo Pet Products by 38.5% during the 1st quarter. US Bancorp DE now owns 7,193 shares of the company’s stock valued at $165,000 after acquiring an additional 2,000 shares during the period. First Mercantile Trust Co. lifted its position in shares of Blue Buffalo Pet Products by 29.0% during the 2nd quarter. First Mercantile Trust Co. now owns 7,539 shares of the company’s stock valued at $172,000 after acquiring an additional 1,693 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Blue Buffalo Pet Products during the 1st quarter valued at approximately $191,000. Hedge funds and other institutional investors own 88.74% of the company’s stock.

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) opened at 27.36 on Monday. The stock has a market capitalization of $5.39 billion, a PE ratio of 38.54 and a beta of 1.91. Blue Buffalo Pet Products, Inc. has a 52 week low of $21.60 and a 52 week high of $27.45. The stock’s 50 day moving average is $25.93 and its 200-day moving average is $25.93.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The business had revenue of $294.80 million during the quarter, compared to the consensus estimate of $301.88 million. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. Equities research analysts forecast that Blue Buffalo Pet Products, Inc. will post $0.92 EPS for the current year.

Blue Buffalo Pet Products declared that its Board of Directors has approved a stock buyback program on Tuesday, August 8th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

A number of equities research analysts have recently issued reports on the stock. Susquehanna Bancshares Inc lifted their price target on shares of Blue Buffalo Pet Products from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Thursday. Sanford C. Bernstein assumed coverage on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 13th. They set a “market perform” rating and a $29.00 price target for the company. Citigroup Inc. reiterated a “top pick” rating on shares of Blue Buffalo Pet Products in a research report on Saturday, September 16th. Robert W. Baird reiterated a “hold” rating and set a $23.00 price target on shares of Blue Buffalo Pet Products in a research report on Friday, September 1st. Finally, Gabelli assumed coverage on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 6th. They set a “buy” rating and a $33.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $28.18.

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In related news, CFO Michael Nathenson sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. 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 in the company, valued at approximately $1,250,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 187,072 shares of company stock valued at $4,736,802. 7.70% of the stock is owned by insiders.

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.

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

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