Investec Asset Management LTD Takes $4.64 Million Position in Blue Buffalo Pet Products, Inc. (BUFF)

Investec Asset Management LTD bought a new stake in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 163,486 shares of the company’s stock, valued at approximately $4,635,000. Investec Asset Management LTD owned approximately 0.08% of Blue Buffalo Pet Products at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Legal & General Group Plc grew its position in Blue Buffalo Pet Products by 164.6% during the first quarter. Legal & General Group Plc now owns 25,226 shares of the company’s stock worth $580,000 after buying an additional 15,692 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Blue Buffalo Pet Products by 30.3% during the first quarter. Dimensional Fund Advisors LP now owns 786,099 shares of the company’s stock worth $18,080,000 after buying an additional 182,923 shares in the last quarter. State Street Corp grew its position in Blue Buffalo Pet Products by 6.6% during the first quarter. State Street Corp now owns 797,459 shares of the company’s stock worth $18,344,000 after buying an additional 49,687 shares in the last quarter. US Bancorp DE boosted its holdings in Blue Buffalo Pet Products by 24.6% during the second quarter. US Bancorp DE now owns 8,960 shares of the company’s stock valued at $205,000 after purchasing an additional 1,767 shares in the last quarter. Finally, NGAM Advisors L.P. boosted its holdings in Blue Buffalo Pet Products by 0.4% during the second quarter. NGAM Advisors L.P. now owns 27,961 shares of the company’s stock valued at $638,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 95.26% of the company’s stock.

In other Blue Buffalo Pet Products news, insider William W. Bishop, Jr. sold 21,655 shares of Blue Buffalo Pet Products stock in a transaction on Friday, October 13th. The shares were sold at an average price of $28.78, for a total transaction of $623,230.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William W. Bishop, Jr. sold 21,200 shares of Blue Buffalo Pet Products stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $30.70, for a total transaction of $650,840.00. The disclosure for this sale can be found here. Insiders have sold a total of 104,307 shares of company stock valued at $2,917,372 in the last ninety days. Company insiders own 7.70% of the company’s stock.

A number of equities research analysts have weighed in on the company. J P Morgan Chase & Co downgraded Blue Buffalo Pet Products from an “overweight” rating to a “neutral” rating in a report on Tuesday, October 17th. Zacks Investment Research raised Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, October 10th. 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 report on Wednesday, September 27th. Susquehanna Bancshares set a $34.00 price objective on Blue Buffalo Pet Products and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Barclays reaffirmed a “buy” rating and set a $29.00 price objective on shares of Blue Buffalo Pet Products in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $29.80.

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) opened at $30.21 on Friday. 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 1 year low of $21.51 and a 1 year high of $30.98. The firm has a market cap of $5,996.53, a P/E ratio of 34.51, a P/E/G ratio of 2.32 and a beta of 1.95.

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

Blue Buffalo Pet Products declared that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

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Blue Buffalo Pet Products 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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