Alps Advisors Inc. bought a new stake in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,293 shares of the company’s stock, valued at approximately $519,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Blue Buffalo Pet Products by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 7,072,744 shares of the company’s stock valued at $161,330,000 after acquiring an additional 310,094 shares during the period. Bank of New York Mellon Corp increased its position in shares of Blue Buffalo Pet Products by 50.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock valued at $119,411,000 after acquiring an additional 1,752,086 shares during the period. FMR LLC increased its position in shares of Blue Buffalo Pet Products by 360.6% in the 2nd quarter. FMR LLC now owns 3,320,428 shares of the company’s stock valued at $75,739,000 after acquiring an additional 2,599,478 shares during the period. Renaissance Technologies LLC increased its position in shares of Blue Buffalo Pet Products by 22.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,715,500 shares of the company’s stock valued at $61,941,000 after acquiring an additional 488,800 shares during the period. Finally, Harris Associates L P acquired a new position in shares of Blue Buffalo Pet Products in the 2nd quarter valued at $53,476,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Blue Buffalo Pet Products, Inc. (NASDAQ BUFF) opened at $28.99 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.62 and a current ratio of 4.22. Blue Buffalo Pet Products, Inc. has a 12 month low of $21.51 and a 12 month high of $29.84. The stock has a market cap of $5,438.08, a PE ratio of 31.29, a PEG ratio of 2.10 and a beta of 1.94.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Blue Buffalo Pet Products had a net margin of 14.17% and a return on equity of 86.23%. The business had revenue of $340.85 million for the quarter, compared to analyst estimates of $323.05 million. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. research analysts predict that Blue Buffalo Pet Products, Inc. will post 0.91 earnings per share for the current year.

Blue Buffalo Pet Products announced that its board has initiated a stock repurchase program on Tuesday, August 8th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, CFO Michael Nathenson sold 50,000 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $25.77, for a total transaction of $1,288,500.00. Following the sale, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $1,288,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William W. Bishop, Jr. sold 3,180 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $28.02, for a total transaction of $89,103.60. Following the sale, the chief executive officer now directly owns 648,730 shares in the company, valued at $18,177,414.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,107 shares of company stock worth $4,805,032. Corporate insiders own 7.70% of the company’s stock.

Several equities research analysts have weighed in on BUFF shares. Robert W. Baird started coverage on Blue Buffalo Pet Products in a research report on Monday, July 24th. They set a “neutral” rating and a $23.00 price target on the stock. BidaskClub raised Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $30.00 price target (down from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. J P Morgan Chase & Co increased their price target on Blue Buffalo Pet Products from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $25.00 price target (down from $29.00) on shares of Blue Buffalo Pet Products in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.80.

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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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