JPMorgan Chase & Co. Buys 87,127 Shares of Blue Buffalo Pet Products Inc (BUFF)

JPMorgan Chase & Co. raised its holdings in Blue Buffalo Pet Products Inc (NASDAQ:BUFF) by 5,851.4% in the third quarter, Holdings Channel reports. The institutional investor owned 88,616 shares of the company’s stock after acquiring an additional 87,127 shares during the quarter. JPMorgan Chase & Co.’s holdings in Blue Buffalo Pet Products were worth $2,530,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BUFF. Schwab Charles Investment Management Inc. raised its stake in Blue Buffalo Pet Products by 19.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 415,310 shares of the company’s stock valued at $9,474,000 after buying an additional 68,305 shares during the last quarter. Rhumbline Advisers raised its stake in Blue Buffalo Pet Products by 54.4% in the second quarter. Rhumbline Advisers now owns 105,021 shares of the company’s stock valued at $2,396,000 after buying an additional 37,021 shares during the last quarter. State of Wisconsin Investment Board raised its stake in Blue Buffalo Pet Products by 56.6% in the second quarter. State of Wisconsin Investment Board now owns 18,616 shares of the company’s stock valued at $425,000 after buying an additional 6,730 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Blue Buffalo Pet Products in the second quarter valued at about $138,000. Finally, Legal & General Group Plc raised its stake in Blue Buffalo Pet Products by 4.5% in the second quarter. Legal & General Group Plc now owns 26,354 shares of the company’s stock valued at $601,000 after buying an additional 1,128 shares during the last quarter. Institutional investors own 94.77% of the company’s stock.

Blue Buffalo Pet Products Inc (BUFF) opened at $33.12 on Friday. Blue Buffalo Pet Products Inc has a 12 month low of $21.51 and a 12 month high of $33.40. The stock has a market capitalization of $6,365.58, a PE ratio of 38.07, a PEG ratio of 1.92 and a beta of 1.95. 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 (NASDAQ:BUFF) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Blue Buffalo Pet Products had a return on equity of 86.23% and a net margin of 14.17%. The firm had revenue of $340.85 million during the quarter, compared to analysts’ expectations of $323.05 million. During the same period last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. research analysts anticipate that Blue Buffalo Pet Products Inc will post 0.91 EPS for the current year.

A number of equities research analysts have commented on BUFF shares. Susquehanna Bancshares set a $34.00 price target on Blue Buffalo Pet Products and gave the company a “buy” rating in a research note on Friday, October 20th. BidaskClub upgraded Blue Buffalo Pet Products from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Zacks Investment Research cut Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Wells Fargo & Co upgraded Blue Buffalo Pet Products to a “buy” rating and set a $36.00 price target for the company in a research note on Friday, December 8th. Finally, Deutsche Bank cut Blue Buffalo Pet Products from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Blue Buffalo Pet Products presently has a consensus rating of “Buy” and an average price target of $31.25.

In related news, CFO Michael Nathenson sold 62,708 shares of Blue Buffalo Pet Products stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $32.72, for a total transaction of $2,051,805.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William W. Bishop, Jr. sold 3,180 shares of Blue Buffalo Pet Products stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $28.02, for a total value of $89,103.60. Following the transaction, the chief executive officer now owns 648,730 shares of the company’s stock, valued at $18,177,414.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 175,523 shares of company stock valued at $5,495,156. Company insiders own 7.70% 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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Institutional Ownership by Quarter for Blue Buffalo Pet Products (NASDAQ:BUFF)

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