Neuberger Berman Group LLC lowered its position in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 3.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,747,435 shares of the company’s stock after selling 166,952 shares during the period. Neuberger Berman Group LLC owned about 2.41% of Blue Buffalo Pet Products worth $108,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Argent Capital Management LLC boosted its position in shares of Blue Buffalo Pet Products by 2.5% in the first quarter. Argent Capital Management LLC now owns 20,780 shares of the company’s stock worth $478,000 after buying an additional 500 shares during the last quarter. KBC Group NV boosted its position in shares of Blue Buffalo Pet Products by 33.6% in the first quarter. KBC Group NV now owns 16,342 shares of the company’s stock worth $376,000 after buying an additional 4,108 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of Blue Buffalo Pet Products during the first quarter worth about $2,300,000. Cipher Capital LP acquired a new position in shares of Blue Buffalo Pet Products during the first quarter worth about $983,000. Finally, William Blair Investment Management LLC boosted its position in shares of Blue Buffalo Pet Products by 9.5% in the first quarter. William Blair Investment Management LLC now owns 2,446,262 shares of the company’s stock worth $56,264,000 after buying an additional 213,047 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) opened at 25.68 on Wednesday. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 36.17 and a beta of 1.95. Blue Buffalo Pet Products, Inc. has a 52-week low of $21.51 and a 52-week high of $26.56. The stock has a 50 day moving average of $23.29 and a 200-day moving average of $23.72.

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 Thomson Reuters’ consensus estimate of $0.21. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The business had revenue of $294.80 million during the quarter, compared to analyst estimates of $301.88 million. During the same period in the previous year, the firm earned $0.19 EPS. Blue Buffalo Pet Products’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Blue Buffalo Pet Products, Inc. will post $0.92 EPS for the current year.

Blue Buffalo Pet Products declared that its Board of Directors has initiated a stock buyback plan on Tuesday, August 8th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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A number of equities analysts have issued reports on BUFF shares. J P Morgan Chase & Co lifted their target price on shares of Blue Buffalo Pet Products from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, August 21st. Zacks Investment Research cut 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 started coverage on shares of 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. Barclays PLC restated a “buy” rating and set a $27.00 target price on shares of Blue Buffalo Pet Products in a research report on Friday, August 11th. 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Blue Buffalo Pet Products presently has an average rating of “Buy” and an average target price of $27.33.

In related news, CFO Michael Nathenson sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $25.00, for a total value of $1,250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $1,250,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 150,000 shares of company stock valued at $3,788,500 over the last quarter. 7.70% of the stock is 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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