Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) CFO Michael Nathenson sold 50,000 shares of the stock in a transaction on Thursday, August 17th. 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 directly owns 50,000 shares in the company, valued at $1,250,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) traded up 0.24% on Friday, reaching $24.66. 1,684,938 shares of the company’s stock traded hands. Blue Buffalo Pet Products, Inc. has a 12 month low of $21.51 and a 12 month high of $26.72. The firm’s 50 day moving average price is $22.82 and its 200 day moving average price is $23.69. The company has a market cap of $4.86 billion, a PE ratio of 34.73 and a beta of 1.95.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $294.80 million for the quarter, compared to analysts’ expectations of $301.88 million. Blue Buffalo Pet Products had a net margin of 12.13% and a return on equity of 98.02%. 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 business posted $0.19 earnings per share. On average, equities analysts expect that Blue Buffalo Pet Products, Inc. will post $0.92 EPS for the current fiscal year.

Blue Buffalo Pet Products announced that its Board of Directors has approved a share buyback plan on Tuesday, August 8th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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Several hedge funds have recently made changes to their positions in BUFF. FMR LLC boosted its stake in shares of Blue Buffalo Pet Products by 360.6% in the second quarter. FMR LLC now owns 3,320,428 shares of the company’s stock worth $75,739,000 after buying an additional 2,599,478 shares during the period. Harris Associates L P acquired a new stake in shares of Blue Buffalo Pet Products during the second quarter worth approximately $53,476,000. Bank of New York Mellon Corp boosted its stake in shares of 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. Clearbridge Investments LLC boosted its stake in shares of 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. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Blue Buffalo Pet Products by 139.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,066,507 shares of the company’s stock worth $47,530,000 after buying an additional 1,202,040 shares during the period. Hedge funds and other institutional investors own 87.11% of the company’s stock.

BUFF has been the topic of several research analyst reports. TheStreet raised shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research note on Friday, August 11th. Susquehanna Bancshares Inc reissued a “buy” rating and set a $30.00 target price (down from $32.00) on shares of Blue Buffalo Pet Products in a research note on Monday, August 7th. Barclays PLC reissued a “buy” rating and set a $27.00 target price on shares of Blue Buffalo Pet Products in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Finally, Robert W. Baird initiated coverage on shares of Blue Buffalo Pet Products in a research note on Monday, July 24th. They set a “neutral” rating and a $23.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.00.

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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