Blue Buffalo Pet Products, Inc. (BUFF) Shares Bought by IFP Advisors Inc

IFP Advisors Inc grew its stake in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 17.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 54,630 shares of the company’s stock after buying an additional 7,925 shares during the period. IFP Advisors Inc’s holdings in Blue Buffalo Pet Products were worth $1,549,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in 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 purchasing an additional 56 shares in the last quarter. NGAM Advisors L.P. raised its position in Blue Buffalo Pet Products by 0.4% in the second quarter. NGAM Advisors L.P. now owns 27,961 shares of the company’s stock worth $638,000 after purchasing an additional 105 shares in the last quarter. ETRADE Capital Management LLC raised its position in Blue Buffalo Pet Products by 0.4% in the second quarter. ETRADE Capital Management LLC now owns 32,243 shares of the company’s stock worth $735,000 after purchasing an additional 114 shares in the last quarter. Advisor Group Inc. raised its position in Blue Buffalo Pet Products by 6.5% in the second quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after purchasing an additional 277 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Blue Buffalo Pet Products by 9.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock worth $138,000 after purchasing an additional 533 shares in the last quarter. 88.28% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently issued reports on BUFF shares. Zacks Investment Research lowered shares of Blue Buffalo Pet Products from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Robert W. Baird reissued a “hold” rating and issued a $23.00 price target on shares of Blue Buffalo Pet Products in a research report on Friday, September 1st. BidaskClub raised shares of Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. J P Morgan Chase & Co lowered shares of Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 17th. Finally, Gabelli started coverage on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 6th. They issued a “buy” rating and a $33.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.55.

In other news, CFO Michael Nathenson sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the sale, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at $1,250,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William W. Bishop, Jr. sold 21,655 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $28.78, for a total transaction of $623,230.90. The disclosure for this sale can be found here. Insiders have sold 229,927 shares of company stock worth $5,965,929 over the last three months. 7.70% of the stock is owned by insiders.

Shares of Blue Buffalo Pet Products, Inc. (BUFF) opened at $27.24 on Friday. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.02 and a beta of 1.94. The company has a debt-to-equity ratio of 1.64, a quick ratio of 4.25 and a current ratio of 5.05.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. The firm had revenue of $294.80 million for the quarter, compared to analysts’ expectations of $301.88 million. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. equities analysts predict that Blue Buffalo Pet Products, Inc. will post 0.92 EPS for the current fiscal year.

Blue Buffalo Pet Products announced that its board has approved a stock buyback plan on Tuesday, August 8th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are 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.

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

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