Frontier Capital Management Co. LLC lowered its position in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 1.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,337,940 shares of the company’s stock after selling 16,988 shares during the period. Frontier Capital Management Co. LLC owned 0.68% of Blue Buffalo Pet Products worth $30,518,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. FNY Partners Fund LP boosted its stake in shares of Blue Buffalo Pet Products by 63.7% in the first quarter. FNY Partners Fund LP now owns 4,500 shares of the company’s stock worth $103,000 after buying an additional 1,751 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Blue Buffalo Pet Products during the second quarter worth $138,000. US Bancorp DE boosted its stake in shares of Blue Buffalo Pet Products by 38.5% in the first quarter. US Bancorp DE now owns 7,193 shares of the company’s stock worth $165,000 after buying an additional 2,000 shares during the last quarter. First Mercantile Trust Co. boosted its stake in shares of Blue Buffalo Pet Products by 29.0% in the second quarter. First Mercantile Trust Co. now owns 7,539 shares of the company’s stock worth $172,000 after buying an additional 1,693 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Blue Buffalo Pet Products during the first quarter worth $191,000. Hedge funds and other institutional investors own 87.11% of the company’s stock.

Shares of Blue Buffalo Pet Products, Inc. (NASDAQ BUFF) opened at 24.66 on Monday. The company has a 50 day moving average of $22.88 and a 200 day moving average of $23.69. Blue Buffalo Pet Products, Inc. has a 12 month low of $21.51 and a 12 month high of $26.72. The stock has a market cap of $4.86 billion, a P/E ratio of 34.73 and a beta of 1.95.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. The firm had revenue of $294.80 million during 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 business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 earnings per share. Equities research analysts expect that Blue Buffalo Pet Products, Inc. will post $0.92 earnings per share for the current fiscal year.

Blue Buffalo Pet Products declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 8th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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A number of brokerages recently weighed in on BUFF. J P Morgan Chase & Co raised their target price on shares of Blue Buffalo Pet Products from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $25.00 target price (down from $29.00) on shares of Blue Buffalo Pet Products in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Susquehanna Bancshares Inc restated a “buy” rating and set a $30.00 target price (down from $32.00) on shares of Blue Buffalo Pet Products in a report on Monday, August 7th. Finally, TheStreet upgraded shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.00.

In related news, CFO Michael Nathenson sold 50,000 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $1,250,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.70% of the stock is currently owned by insiders.

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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