Michael Nathenson Sells 37,072 Shares of Blue Buffalo Pet Products, Inc. (BUFF) Stock

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) CFO Michael Nathenson sold 37,072 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $25.58, for a total transaction of $948,301.76. Following the transaction, the chief financial officer now directly owns 37,072 shares of the company’s stock, valued at $948,301.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Michael Nathenson also recently made the following trade(s):

  • On Monday, August 28th, Michael Nathenson sold 50,000 shares of Blue Buffalo Pet Products stock. The shares were sold at an average price of $25.77, for a total transaction of $1,288,500.00.
  • On Monday, August 21st, Michael Nathenson sold 50,000 shares of Blue Buffalo Pet Products stock. The shares were sold at an average price of $25.00, for a total transaction of $1,250,000.00.
  • On Thursday, August 17th, Michael Nathenson sold 50,000 shares of Blue Buffalo Pet Products stock. The shares were sold at an average price of $25.00, for a total transaction of $1,250,000.00.

Shares of Blue Buffalo Pet Products, Inc. (BUFF) opened at 26.07 on Friday. Blue Buffalo Pet Products, Inc. has a 52 week low of $21.51 and a 52 week high of $26.24. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 36.72 and a beta of 1.91. The stock has a 50 day moving average of $24.08 and a 200-day moving average of $23.77.

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

Blue Buffalo Pet Products announced that its Board of Directors has approved a share repurchase 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 often an indication that the company’s leadership believes its shares are undervalued.

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A number of large investors have recently modified their holdings of BUFF. FMR LLC grew its holdings in Blue Buffalo Pet Products by 360.6% during the 2nd quarter. FMR LLC now owns 3,320,428 shares of the company’s stock worth $75,739,000 after acquiring an additional 2,599,478 shares during the last quarter. Harris Associates L P bought a new stake in Blue Buffalo Pet Products during the 2nd quarter worth about $53,476,000. Bank of New York Mellon Corp grew its holdings in Blue Buffalo Pet Products by 50.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,235,035 shares of the company’s stock worth $119,411,000 after acquiring an additional 1,752,086 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Blue Buffalo Pet Products by 69.8% during the 1st quarter. Clearbridge Investments LLC now owns 3,523,195 shares of the company’s stock worth $81,033,000 after acquiring an additional 1,447,859 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Blue Buffalo Pet Products by 139.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,066,507 shares of the company’s stock worth $47,530,000 after acquiring an additional 1,202,040 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the stock. Robert W. Baird reissued a “hold” rating and set a $23.00 target price on shares of Blue Buffalo Pet Products in a research note on Friday, September 1st. Gabelli assumed coverage on shares of Blue Buffalo Pet Products in a research note on Wednesday. They set a “buy” rating and a $33.00 target price for the company. BidaskClub raised shares of Blue Buffalo Pet Products from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. J P Morgan Chase & Co boosted their target price on shares of Blue Buffalo Pet Products from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, August 21st. Finally, TheStreet raised shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Blue Buffalo Pet Products has a consensus rating of “Buy” and a consensus target price of $27.90.

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.

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