California State Teachers Retirement System lessened its position in Blue Buffalo Pet Products Inc (NASDAQ:BUFF) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,471 shares of the company’s stock after selling 16,092 shares during the quarter. California State Teachers Retirement System owned 0.08% of Blue Buffalo Pet Products worth $4,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BUFF. Advisor Group Inc. grew its stake in shares of Blue Buffalo Pet Products by 6.5% during the second quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock valued at $103,000 after buying an additional 277 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Blue Buffalo Pet Products by 9.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,070 shares of the company’s stock valued at $138,000 after buying an additional 533 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Blue Buffalo Pet Products during the second quarter valued at about $138,000. Turner Investments LLC bought a new position in shares of Blue Buffalo Pet Products during the third quarter valued at about $184,000. Finally, BB&T Securities LLC bought a new position in shares of Blue Buffalo Pet Products during the third quarter valued at about $204,000. 94.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Blue Buffalo Pet Products Inc (NASDAQ:BUFF) opened at $33.12 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.62 and a current ratio of 4.22. The firm has a market cap of $6,470.00 and a PE ratio of 37.64. Blue Buffalo Pet Products Inc has a 1-year low of $21.51 and a 1-year high of $33.40.

Blue Buffalo Pet Products (NASDAQ:BUFF) last posted its earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The company had revenue of $340.85 million during the quarter, compared to analyst estimates of $323.05 million. Blue Buffalo Pet Products had a net margin of 14.17% and a return on equity of 86.23%. Blue Buffalo Pet Products’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. research analysts predict that Blue Buffalo Pet Products Inc will post 0.91 EPS for the current year.

A number of research analysts have recently issued reports on the company. Susquehanna Bancshares raised their price objective 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. Oppenheimer reaffirmed a “buy” rating and set a $32.00 price objective (up from $25.00) on shares of Blue Buffalo Pet Products in a research note on Wednesday, September 27th. Sanford C. Bernstein assumed coverage on Blue Buffalo Pet Products in a research note on Wednesday, September 13th. They set a “market perform” rating and a $29.00 price objective on the stock. JPMorgan Chase & Co. cut Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 17th. Finally, Barclays reaffirmed a “buy” rating and set a $29.00 price objective on shares of Blue Buffalo Pet Products in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $31.25.

In other news, CFO Michael Nathenson sold 62,708 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $32.72, for a total transaction of $2,051,805.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William W. Bishop, Jr. sold 21,655 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $28.78, for a total transaction of $623,230.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,523 shares of company stock valued at $5,495,156. 7.70% of the stock is currently owned by company insiders.

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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.

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

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