Teachers Advisors LLC cut its position in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 60.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,056 shares of the company’s stock after selling 91,010 shares during the period. Teachers Advisors LLC’s holdings in Blue Buffalo Pet Products were worth $1,358,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BUFF. Wellington Management Group LLP raised its stake in shares of Blue Buffalo Pet Products by 1.2% in the first quarter. Wellington Management Group LLP now owns 166,708 shares of the company’s stock worth $3,834,000 after buying an additional 1,961 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Blue Buffalo Pet Products by 0.4% in the first quarter. Principal Financial Group Inc. now owns 13,046 shares of the company’s stock worth $300,000 after buying an additional 56 shares during the last quarter. Argent Capital Management LLC raised its stake 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. Westpac Banking Corp acquired a new stake in shares of Blue Buffalo Pet Products during the first quarter worth $233,000. Finally, Neuberger Berman Group LLC raised its stake in shares of Blue Buffalo Pet Products by 11.1% in the first quarter. Neuberger Berman Group LLC now owns 4,914,387 shares of the company’s stock worth $113,031,000 after buying an additional 489,439 shares during the last quarter. Hedge funds and other institutional investors own 87.11% of the company’s stock.

Shares of Blue Buffalo Pet Products, Inc. (BUFF) traded down 0.35% on Friday, hitting $25.86. 1,213,935 shares of the company traded hands. Blue Buffalo Pet Products, Inc. has a 1-year low of $21.51 and a 1-year high of $26.56. The firm’s 50 day moving average price is $23.29 and its 200-day moving average price is $23.72. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 36.42 and a beta of 1.95.

Blue Buffalo Pet Products (NASDAQ:BUFF) last announced 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. 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 company posted $0.19 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Blue Buffalo Pet Products, Inc. will post $0.92 earnings per share for the current year.

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

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A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. J P Morgan Chase & Co boosted their price objective on shares of Blue Buffalo Pet Products from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, August 21st. TheStreet upgraded shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a report on Friday, August 11th. Barclays PLC restated a “buy” rating and issued a $27.00 price objective on shares of Blue Buffalo Pet Products in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $27.33.

In other news, CFO Michael Nathenson sold 50,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $25.00, for a total value of $1,250,000.00. Following the transaction, the chief financial officer now owns 50,000 shares of the company’s stock, valued at approximately $1,250,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.70% of the company’s stock.

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.

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

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