Massey Quick Simon & CO. LLC Purchases Shares of 7,860 Blue Buffalo Pet Products, Inc. (BUFF)

Massey Quick Simon & CO. LLC purchased a new stake in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,860 shares of the company’s stock, valued at approximately $223,000.

A number of other large investors have also recently bought and sold shares of BUFF. Principal Financial Group Inc. raised its holdings in Blue Buffalo Pet Products by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 13,046 shares of the company’s stock valued at $300,000 after buying an additional 56 shares during the last quarter. Legal & General Group Plc increased its position in Blue Buffalo Pet Products by 164.6% during the 1st quarter. Legal & General Group Plc now owns 25,226 shares of the company’s stock valued at $580,000 after purchasing an additional 15,692 shares during the period. Geode Capital Management LLC increased its position in Blue Buffalo Pet Products by 11.6% during the 1st quarter. Geode Capital Management LLC now owns 756,173 shares of the company’s stock valued at $17,391,000 after purchasing an additional 78,348 shares during the period. Dimensional Fund Advisors LP increased its position in Blue Buffalo Pet Products by 30.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 786,099 shares of the company’s stock valued at $18,080,000 after purchasing an additional 182,923 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Blue Buffalo Pet Products by 6.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 347,005 shares of the company’s stock valued at $7,982,000 after purchasing an additional 21,821 shares during the period. Institutional investors own 88.82% of the company’s stock.

A number of research analysts have issued reports on the stock. Barclays PLC reissued a “buy” rating and set a $29.00 price objective on shares of Blue Buffalo Pet Products in a research report on Friday. J P Morgan Chase & Co boosted their price objective on shares of Blue Buffalo Pet Products from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $25.00 price objective (down from $29.00) on shares of Blue Buffalo Pet Products in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Blue Buffalo Pet Products from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Susquehanna Bancshares Inc reissued a “buy” rating and set a $30.00 price objective (down from $32.00) on shares of Blue Buffalo Pet Products in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Blue Buffalo Pet Products currently has a consensus rating of “Hold” and an average target price of $29.80.

Blue Buffalo Pet Products, Inc. (BUFF) traded up $0.65 during trading hours on Tuesday, hitting $28.02. 899,989 shares of the stock were exchanged, compared to its average volume of 1,425,633. The stock has a market cap of $5,307.25, a P/E ratio of 30.54, a PEG ratio of 1.99 and a beta of 1.94. The company has a quick ratio of 3.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.61. Blue Buffalo Pet Products, Inc. has a 12-month low of $21.51 and a 12-month high of $29.84.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released 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 firm had revenue of $340.85 million for the quarter, compared to the consensus estimate of $323.05 million. Blue Buffalo Pet Products had a net margin of 14.17% and a return on equity of 86.23%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. analysts expect that Blue Buffalo Pet Products, Inc. will post 0.91 EPS for the current fiscal year.

Blue Buffalo Pet Products announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 8th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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In related news, CFO Michael Nathenson sold 50,000 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $25.00, for a total transaction of $1,250,000.00. Following the sale, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $1,250,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $28.58, for a total transaction of $605,896.00. Following the sale, the insider now directly owns 655,090 shares in the company, valued at $18,722,472.20. The disclosure for this sale can be found here. Insiders sold a total of 229,927 shares of company stock worth $5,965,929 over the last ninety days. Insiders own 7.70% of the company’s stock.

Blue Buffalo Pet Products Company Profile

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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