Blue Buffalo Pet Products, Inc. (BUFF) CEO William W. Bishop, Jr. Sells 3,180 Shares of Stock

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) CEO William W. Bishop, Jr. sold 3,180 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $28.02, for a total value of $89,103.60. Following the transaction, the chief executive officer now owns 648,730 shares of the company’s stock, valued at approximately $18,177,414.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of Blue Buffalo Pet Products, Inc. (BUFF) traded up $0.07 on Friday, reaching $29.06. The company’s stock had a trading volume of 1,239,488 shares, compared to its average volume of 1,430,358. The company has a current ratio of 4.22, a quick ratio of 3.62 and a debt-to-equity ratio of 1.61. Blue Buffalo Pet Products, Inc. has a 52-week low of $21.51 and a 52-week high of $29.84. The company has a market cap of $5,660.00 and a P/E ratio of 31.84.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The firm had revenue of $340.85 million during the quarter, compared to the consensus estimate of $323.05 million. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. sell-side analysts forecast that Blue Buffalo Pet Products, Inc. will post 0.91 EPS for the current fiscal year.

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

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BUFF has been the subject of several analyst reports. Robert W. Baird initiated coverage on Blue Buffalo Pet Products in a research report on Monday, July 24th. They set a “neutral” rating and a $23.00 target price for the company. BidaskClub upgraded Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Susquehanna Bancshares Inc restated a “buy” rating and set a $30.00 target price (down previously from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. J P Morgan Chase & Co raised their target price 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. reiterated 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 report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.80.

Several hedge funds have recently added to or reduced their stakes in BUFF. Advisor Group Inc. raised its position in shares of Blue Buffalo Pet Products by 6.5% during the second quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after acquiring an additional 277 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Blue Buffalo Pet Products during the second quarter worth $138,000. The Manufacturers Life Insurance Company raised its position in shares of Blue Buffalo Pet Products by 9.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after acquiring an additional 533 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of Blue Buffalo Pet Products by 29.0% during the second quarter. First Mercantile Trust Co. now owns 7,539 shares of the company’s stock worth $172,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Turner Investments LLC bought a new stake in shares of Blue Buffalo Pet Products during the third quarter worth $184,000. Institutional investors own 88.82% 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.

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