Steadfast Capital Management LP raised its holdings in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,775 shares of the company’s stock after acquiring an additional 218 shares during the period. Steadfast Capital Management LP owned approximately 0.09% of Blue Buffalo Pet Products worth $4,009,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Kingdon Capital Management L.L.C. bought a new stake in Blue Buffalo Pet Products during the 2nd quarter valued at $1,711,000. State Street Corp raised its stake in Blue Buffalo Pet Products by 32.3% during the 2nd quarter. State Street Corp now owns 1,055,030 shares of the company’s stock valued at $24,064,000 after acquiring an additional 257,571 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in Blue Buffalo Pet Products by 4.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 90,058 shares of the company’s stock valued at $2,054,000 after acquiring an additional 3,983 shares in the last quarter. Harris Associates L P bought a new stake in Blue Buffalo Pet Products during the 2nd quarter valued at $53,476,000. Finally, Tudor Investment Corp ET AL raised its stake in Blue Buffalo Pet Products by 275.3% during the 2nd quarter. Tudor Investment Corp ET AL now owns 33,642 shares of the company’s stock valued at $767,000 after acquiring an additional 24,677 shares in the last quarter. 88.74% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Michael Nathenson sold 50,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $25.00, for a total value of $1,250,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares in the company, valued at approximately $1,250,000. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders sold 187,072 shares of company stock valued at $4,736,802. 7.70% of the stock is owned by corporate insiders.

Several analysts have weighed in on BUFF shares. BidaskClub downgraded Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $32.00 target price (up previously from $25.00) on shares of Blue Buffalo Pet Products in a research note on Wednesday, September 27th. Susquehanna Bancshares Inc lifted their target price on Blue Buffalo Pet Products from $30.00 to $32.00 and gave the company a “positive” rating in a research note on Thursday, September 21st. Imperial Capital started coverage on Blue Buffalo Pet Products in a research note on Wednesday, June 28th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Zacks Investment Research raised Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.00.

Shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) traded down 0.86% during trading on Friday, hitting $28.89. The company had a trading volume of 388,129 shares. Blue Buffalo Pet Products, Inc. has a 12-month low of $21.60 and a 12-month high of $29.44. The stock has a market cap of $5.69 billion, a PE ratio of 40.69 and a beta of 1.94. The firm has a 50 day moving average of $27.30 and a 200 day moving average of $27.30.

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

Blue Buffalo Pet Products announced that its board has approved a share buyback plan on Tuesday, August 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership 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.

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

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