Boston Advisors LLC trimmed its position in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 95.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,270 shares of the company’s stock after selling 392,095 shares during the period. Boston Advisors LLC’s holdings in Blue Buffalo Pet Products were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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 boosted its holdings in Blue Buffalo Pet Products by 22.0% in the second quarter. Renaissance Technologies LLC now owns 2,715,500 shares of the company’s stock valued at $61,941,000 after purchasing an additional 488,800 shares during the last quarter. Finally, Harris Associates L P purchased a new stake in Blue Buffalo Pet Products in the second quarter valued at $53,476,000. 88.28% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have commented on the stock. Susquehanna Bancshares Inc set a $34.00 price target on shares of Blue Buffalo Pet Products and gave the company a “buy” rating in a report on Friday, October 20th. Zacks Investment Research lowered shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. J P Morgan Chase & Co lowered shares of Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a report on Tuesday, October 17th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $32.00 price target (up from $25.00) on shares of Blue Buffalo Pet Products in a report on Wednesday, September 27th. Finally, Citigroup Inc. reaffirmed a “top pick” rating on shares of Blue Buffalo Pet Products in a report on Saturday, September 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $29.55.

In other news, insider William W. Bishop, Jr. sold 21,200 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total transaction of $605,896.00. Following the transaction, the insider now directly owns 655,090 shares in the company, valued at $18,722,472.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Nathenson sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $1,250,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 229,927 shares of company stock worth $5,965,929. Company insiders own 7.70% of the company’s stock.

Shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) opened at 28.93 on Wednesday. Blue Buffalo Pet Products, Inc. has a 1-year low of $21.51 and a 1-year high of $29.84. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 40.75 and a beta of 1.94. The stock’s 50 day moving average is $28.02 and its 200 day moving average is $27.97.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. The business had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. During the same period in the previous year, the business posted $0.19 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities 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 initiated a share 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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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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