Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) during the first quarter, Holdings Channel reports. The institutional investor acquired 17,735 shares of the company’s stock, valued at approximately $408,000.
A number of other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in shares of Blue Buffalo Pet Products by 54.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,019 shares of the company’s stock valued at $121,000 after buying an additional 1,769 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Blue Buffalo Pet Products during the fourth quarter worth $134,000. US Bancorp DE increased its stake in Blue Buffalo Pet Products by 38.5% in the first quarter. US Bancorp DE now owns 7,193 shares of the company’s stock worth $165,000 after buying an additional 2,000 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Blue Buffalo Pet Products during the first quarter worth $191,000. Finally, Personal Capital Advisors Corp purchased a new stake in Blue Buffalo Pet Products during the first quarter worth $221,000. Hedge funds and other institutional investors own 88.41% of the company’s stock.
Blue Buffalo Pet Products, Inc. (NASDAQ BUFF) opened at 24.07 on Friday. Blue Buffalo Pet Products, Inc. has a 1-year low of $21.60 and a 1-year high of $27.50. The firm has a market capitalization of $4.74 billion, a PE ratio of 35.40 and a beta of 1.97. The firm has a 50-day moving average price of $23.96 and a 200-day moving average price of $24.22.
Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its earnings results on Tuesday, May 9th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Blue Buffalo Pet Products had a return on equity of 122.62% and a net margin of 11.69%. The business had revenue of $302 million during the quarter, compared to analyst estimates of $300.27 million. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Blue Buffalo Pet Products, Inc. will post $0.92 earnings per share for the current fiscal year.
BUFF has been the subject of a number of recent research reports. Susquehanna Bancshares Inc set a $32.00 target price on Blue Buffalo Pet Products and gave the stock a “buy” rating in a research report on Thursday, May 25th. Zacks Investment Research upgraded Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Friday, March 3rd. Morgan Stanley downgraded Blue Buffalo Pet Products from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective for the company. in a report on Friday, March 17th. Finally, Citigroup Inc. upgraded Blue Buffalo Pet Products from a “buy” rating to a “top pick” rating in a report on Tuesday, April 18th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $29.11.
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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