Highbridge Capital Management LLC Buys New Position in Blue Buffalo Pet Products, Inc. (BUFF)

Highbridge Capital Management LLC purchased a new stake in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,992 shares of the company’s stock, valued at approximately $529,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC acquired a new position in shares of Blue Buffalo Pet Products during the fourth quarter valued at about $485,000. Parametrica Management Ltd acquired a new position in shares of Blue Buffalo Pet Products during the first quarter valued at about $440,000. State Board of Administration of Florida Retirement System raised its position in shares of Blue Buffalo Pet Products by 16.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 50,895 shares of the company’s stock valued at $1,224,000 after buying an additional 7,162 shares during the last quarter. Argent Capital Management LLC raised its position in shares of Blue Buffalo Pet Products by 2.5% in the first quarter. Argent Capital Management LLC now owns 20,780 shares of the company’s stock valued at $478,000 after buying an additional 500 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Blue Buffalo Pet Products during the fourth quarter valued at about $134,000. Institutional investors own 88.92% of the company’s stock.

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) traded down 0.74% during trading on Friday, hitting $22.69. 876,796 shares of the company were exchanged. Blue Buffalo Pet Products, Inc. has a 1-year low of $21.60 and a 1-year high of $27.50. The firm’s 50 day moving average price is $22.98 and its 200-day moving average price is $23.89. The stock has a market capitalization of $4.47 billion, a PE ratio of 33.37 and a beta of 1.97.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Blue Buffalo Pet Products had a net margin of 11.69% and a return on equity of 122.62%. The company had revenue of $302 million for the quarter, compared to the consensus estimate of $300.27 million. During the same quarter in the prior year, the company earned $0.19 EPS. Blue Buffalo Pet Products’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts predict that Blue Buffalo Pet Products, Inc. will post $0.92 EPS for the current year.

WARNING: “Highbridge Capital Management LLC Buys New Position in Blue Buffalo Pet Products, Inc. (BUFF)” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.chaffeybreeze.com/2017/07/30/highbridge-capital-management-llc-purchases-new-stake-in-blue-buffalo-pet-products-inc-buff-updated-updated-updated.html.

A number of analysts have weighed in on the stock. Imperial Capital assumed coverage on shares of Blue Buffalo Pet Products in a research note on Wednesday, June 28th. They set an “outperform” rating and a $30.00 price objective for the company. BidaskClub lowered shares of Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 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. Off Wall Street assumed coverage on shares of Blue Buffalo Pet Products in a research note on Wednesday, June 21st. They set a “sell” rating for the company. Finally, Citigroup Inc. upgraded shares of Blue Buffalo Pet Products from a “buy” rating to a “top pick” rating in a research note on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.91.

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.

Institutional Ownership by Quarter for Blue Buffalo Pet Products (NASDAQ:BUFF)

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