Investors Sell Blue Buffalo Pet Products (BUFF) on Strength After Insider Selling

Investors sold shares of Blue Buffalo Pet Products Inc (NASDAQ:BUFF) on strength during trading hours on Thursday following insider selling activity. $5.50 million flowed into the stock on the tick-up and $45.02 million flowed out of the stock on the tick-down, for a money net flow of $39.52 million out of the stock. Of all companies tracked, Blue Buffalo Pet Products had the 0th highest net out-flow for the day. Blue Buffalo Pet Products traded up $0.15 for the day and closed at $32.60Specifically, CFO Michael Nathenson sold 62,708 shares of the business’s stock in a transaction on 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 filing with the SEC, which is available at this hyperlink. Also, CEO William W. Bishop, Jr. sold 3,180 shares of the business’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $32.41, for a total transaction of $103,063.80. Following the transaction, the chief executive officer now owns 629,650 shares in the company, valued at approximately $20,406,956.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,523 shares of company stock worth $5,495,156. Insiders own 7.70% of the company’s stock.

A number of research analysts recently issued reports on BUFF shares. Oppenheimer reiterated a “buy” rating and set a $32.00 target price (up previously from $25.00) on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 27th. Susquehanna Bancshares boosted their target price on shares of Blue Buffalo Pet Products from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Thursday, September 21st. BidaskClub upgraded shares of Blue Buffalo Pet Products from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th. Sanford C. Bernstein started coverage on shares of Blue Buffalo Pet Products in a research report on Wednesday, September 13th. They set a “market perform” rating and a $29.00 target price on the stock. Finally, Wells Fargo & Co upgraded shares of Blue Buffalo Pet Products to a “buy” rating and set a $36.00 target price on the stock in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.25.

The company has a debt-to-equity ratio of 1.61, a current ratio of 4.22 and a quick ratio of 3.62. The firm has a market cap of $6,470.00 and a price-to-earnings ratio of 37.64.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $323.05 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The business’s revenue was up 18.4% on a year-over-year basis. analysts forecast that Blue Buffalo Pet Products Inc will post 0.91 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its holdings in Blue Buffalo Pet Products by 6.5% during the second quarter. Advisor Group Inc. now owns 4,513 shares of the company’s stock worth $103,000 after buying an additional 277 shares during the last quarter. SG Americas Securities LLC acquired a new position in Blue Buffalo Pet Products during the second quarter worth $138,000. The Manufacturers Life Insurance Company raised its holdings in 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 worth $138,000 after buying an additional 533 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Blue Buffalo Pet Products by 62.9% during the third quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the company’s stock worth $184,000 after buying an additional 2,494 shares during the last quarter. Finally, Turner Investments LLC acquired a new position in Blue Buffalo Pet Products during the third quarter worth $184,000. Hedge funds and other institutional investors own 94.77% of the company’s stock.

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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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