Vision Capital Management Inc. Decreases Position in Blue Buffalo Pet Products, Inc. (BUFF)

Vision Capital Management Inc. lowered its stake in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 2.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 73,452 shares of the company’s stock after selling 2,005 shares during the period. Vision Capital Management Inc.’s holdings in Blue Buffalo Pet Products were worth $1,675,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nationwide Fund Advisors grew its stake in Blue Buffalo Pet Products by 8.7% in the 2nd quarter. Nationwide Fund Advisors now owns 357,380 shares of the company’s stock valued at $8,152,000 after buying an additional 28,600 shares during the last quarter. Icon Advisers Inc. Co. boosted its holdings in Blue Buffalo Pet Products by 41.3% in the 2nd quarter. Icon Advisers Inc. Co. now owns 75,300 shares of the company’s stock valued at $1,718,000 after purchasing an additional 22,000 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Blue Buffalo Pet Products by 2.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 310,976 shares of the company’s stock valued at $7,093,000 after purchasing an additional 6,652 shares during the period. Teachers Advisors LLC boosted its holdings in Blue Buffalo Pet Products by 70.7% in the 2nd quarter. Teachers Advisors LLC now owns 100,810 shares of the company’s stock valued at $2,299,000 after purchasing an additional 41,754 shares during the period. Finally, Seven Eight Capital LP bought a new stake in Blue Buffalo Pet Products in the 2nd quarter valued at about $1,540,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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In other news, CFO Michael Nathenson sold 50,000 shares of Blue Buffalo Pet Products stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $25.77, for a total value of $1,288,500.00. Following the completion of the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $1,288,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 187,072 shares of company stock valued at $4,736,802 in the last quarter. Corporate insiders own 7.70% of the company’s stock.

Shares of Blue Buffalo Pet Products, Inc. (BUFF) traded up 1.02% during mid-day trading on Friday, hitting $25.85. 256,112 shares of the stock were exchanged. The stock’s 50-day moving average is $25.81 and its 200-day moving average is $25.17. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 36.41 and a beta of 1.91. Blue Buffalo Pet Products, Inc. has a 52 week low of $21.60 and a 52 week high of $26.39.

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

Blue Buffalo Pet Products declared that its board has authorized a stock repurchase program on Tuesday, August 8th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

BUFF has been the subject of a number of recent research reports. J P Morgan Chase & Co boosted their price objective on shares of Blue Buffalo Pet Products from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, August 21st. Zacks Investment Research downgraded shares of Blue Buffalo Pet Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 11th. Robert W. Baird initiated coverage on shares of Blue Buffalo Pet Products in a report on Monday, July 24th. They issued a “neutral” rating and a $23.00 price objective for the company. Barclays PLC reissued a “buy” rating and issued a $27.00 price objective on shares of Blue Buffalo Pet Products in a report on Friday, August 11th. Finally, TheStreet raised shares of Blue Buffalo Pet Products from a “c” rating to a “b-” rating in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $28.00.

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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