DA Davidson reiterated their buy rating on shares of Blue Buffalo Pet Products Inc. (NASDAQ:BUFF) in a report issued on Monday. The brokerage currently has a $29.00 price target on the stock.

A number of other research firms have also weighed in on BUFF. Zacks Investment Research upgraded Blue Buffalo Pet Products from a hold rating to a strong-buy rating and set a $30.00 price objective for the company in a research note on Tuesday, July 19th. Wedbush reiterated a neutral rating and set a $25.00 price objective (up previously from $24.00) on shares of Blue Buffalo Pet Products in a research note on Wednesday, August 10th. JPMorgan Chase & Co. lifted their price objective on Blue Buffalo Pet Products from $28.00 to $33.00 and gave the company an overweight rating in a research note on Thursday, August 11th. Deutsche Bank AG lifted their price objective on Blue Buffalo Pet Products from $28.00 to $30.00 and gave the company a buy rating in a research note on Thursday, August 11th. Finally, Susquehanna initiated coverage on Blue Buffalo Pet Products in a research note on Monday, October 24th. They set a positive rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $29.50.

Shares of Blue Buffalo Pet Products (NASDAQ:BUFF) traded down 0.41% during trading on Monday, reaching $24.07. The company had a trading volume of 94,032 shares. The company has a market capitalization of $4.73 billion, a PE ratio of 43.76 and a beta of 2.27. Blue Buffalo Pet Products has a 52 week low of $15.19 and a 52 week high of $27.50. The stock’s 50-day moving average price is $24.56 and its 200-day moving average price is $25.14.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. The business earned $286.85 million during the quarter, compared to analyst estimates of $281.90 million. Blue Buffalo Pet Products had a return on equity of 406.20% and a net margin of 10.14%. The company’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts expect that Blue Buffalo Pet Products will post $0.76 EPS for the current fiscal year.

In other news, Director L.P. Invus sold 12,512,124 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $24.83, for a total transaction of $310,676,038.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kurt Schmidt sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $24.83, for a total transaction of $1,241,500.00. Following the transaction, the chief executive officer now directly owns 103,571 shares of the company’s stock, valued at $2,571,667.93. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY raised its stake in shares of Blue Buffalo Pet Products by 96.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,485 shares of the company’s stock worth $105,000 after buying an additional 2,205 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Blue Buffalo Pet Products during the second quarter valued at $118,000. BlackRock Japan Co. Ltd raised its position in Blue Buffalo Pet Products by 382.9% in the second quarter. BlackRock Japan Co. Ltd now owns 5,447 shares of the company’s stock valued at $127,000 after buying an additional 4,319 shares during the last quarter. Legal & General Group Plc raised its position in Blue Buffalo Pet Products by 2.1% in the second quarter. Legal & General Group Plc now owns 5,655 shares of the company’s stock valued at $132,000 after buying an additional 116 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Blue Buffalo Pet Products by 578.4% in the second quarter. Tower Research Capital LLC TRC now owns 6,737 shares of the company’s stock valued at $157,000 after buying an additional 5,744 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

About Blue Buffalo Pet Products

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under the BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines. Blue Buffalo Company, Ltd. (Blue), Blue Buffalo Import Mexico, S.

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