Gamco Investors INC. ET AL reduced its position in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,897 shares of the company’s stock after selling 172 shares during the period. Gamco Investors INC. ET AL’s holdings in Blue Buffalo Pet Products were worth $454,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in Blue Buffalo Pet Products by 50.3% in the second quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock worth $119,411,000 after buying an additional 1,752,086 shares during the period. Neuberger Berman Group LLC raised its position in Blue Buffalo Pet Products by 11.1% in the first quarter. Neuberger Berman Group LLC now owns 4,914,387 shares of the company’s stock worth $113,031,000 after buying an additional 489,439 shares during the period. Clearbridge Investments LLC raised its position in Blue Buffalo Pet Products by 69.8% in the first quarter. Clearbridge Investments LLC now owns 3,523,195 shares of the company’s stock worth $81,033,000 after buying an additional 1,447,859 shares during the period. William Blair Investment Management LLC raised its position in 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 period. Finally, Renaissance Technologies LLC raised its position in Blue Buffalo Pet Products by 88.5% in the first quarter. Renaissance Technologies LLC now owns 2,226,700 shares of the company’s stock worth $51,214,000 after buying an additional 1,045,700 shares during the period. Institutional investors own 88.77% of the company’s stock.

Shares of Blue Buffalo Pet Products, Inc. (BUFF) opened at 25.70 on Thursday. The stock has a market capitalization of $5.07 billion, a P/E ratio of 36.20 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 company 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 released its quarterly earnings data on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. The company had revenue of $294.80 million for the quarter, compared to analyst estimates of $301.88 million. Blue Buffalo Pet Products had a return on equity of 98.02% and a net margin of 12.13%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, analysts anticipate that Blue Buffalo Pet Products, Inc. will post $0.92 EPS for the current year.

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

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BUFF has been the subject of a number of analyst reports. BidaskClub lowered shares of Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Susquehanna Bancshares Inc set a $32.00 price objective on shares of Blue Buffalo Pet Products and gave the company a “buy” rating in a research report on Thursday, May 25th. Imperial Capital initiated coverage on shares of Blue Buffalo Pet Products in a research report on Wednesday, June 28th. They issued an “outperform” rating and a $30.00 price objective for the company. Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Robert W. Baird initiated coverage on shares of Blue Buffalo Pet Products in a research report on Monday, July 24th. They issued a “neutral” rating and a $23.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.33.

In other Blue Buffalo Pet Products news, CFO Michael Nathenson sold 50,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the transaction, the chief financial officer now owns 50,000 shares of the company’s stock, valued at $1,250,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 150,000 shares of company stock worth $3,788,500 in the last three months. 7.70% of the stock is currently owned by corporate 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.

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

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