First Trust Advisors LP Has $4.58 Million Stake in Blue Buffalo Pet Products, Inc. (BUFF)

First Trust Advisors LP increased its stake in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 6.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 161,443 shares of the company’s stock after acquiring an additional 10,163 shares during the period. First Trust Advisors LP owned 0.08% of Blue Buffalo Pet Products worth $4,577,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of BUFF. Advisor Group Inc. boosted its stake in Blue Buffalo Pet Products by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock valued at $103,000 after purchasing an additional 277 shares during the period. SG Americas Securities LLC bought a new stake in Blue Buffalo Pet Products during the 2nd quarter valued at approximately $138,000. The Manufacturers Life Insurance Company boosted its stake in Blue Buffalo Pet Products by 9.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock valued at $138,000 after purchasing an additional 533 shares during the period. First Mercantile Trust Co. boosted its stake in 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 purchasing an additional 1,693 shares during the period. Finally, US Bancorp DE boosted its stake in Blue Buffalo Pet Products by 24.6% during the 2nd quarter. US Bancorp DE now owns 8,960 shares of the company’s stock valued at $205,000 after purchasing an additional 1,767 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

In other Blue Buffalo Pet Products news, insider William W. Bishop, Jr. sold 21,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $28.58, for a total value of $605,896.00. Following the completion of the sale, the insider now owns 655,090 shares in the company, valued at approximately $18,722,472.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 648,730 shares of the company’s stock, valued at approximately $18,177,414.60. The disclosure for this sale can be found here. Insiders sold a total of 183,107 shares of company stock valued at $4,805,032 in the last quarter. Corporate insiders own 7.70% of the company’s stock.

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Several analysts recently weighed in on the company. Barclays PLC restated a “buy” rating and set a $29.00 target price on shares of Blue Buffalo Pet Products in a research note on Friday, November 10th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $32.00 target price on shares of Blue Buffalo Pet Products in a research note on Monday, November 6th. Susquehanna Bancshares Inc set a $34.00 target price on Blue Buffalo Pet Products and gave the company a “buy” rating in a research note on Friday, October 20th. Zacks Investment Research downgraded Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, J P Morgan Chase & Co downgraded Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.80.

Shares of Blue Buffalo Pet Products, Inc. (BUFF) opened at $29.06 on Friday. The company has a quick ratio of 3.62, a current ratio of 4.22 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 capitalization of $5,660.00 and a P/E ratio of 31.84.

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

Blue Buffalo Pet Products declared that its board has approved a stock buyback program on Tuesday, August 8th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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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