Panagora Asset Management Inc. Acquires 315,460 Shares of Blue Buffalo Pet Products, Inc. (BUFF)

Panagora Asset Management Inc. raised its stake in Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 3,490.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 324,499 shares of the company’s stock after buying an additional 315,460 shares during the period. Panagora Asset Management Inc. owned 0.17% of Blue Buffalo Pet Products worth $7,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BUFF. Vanguard Group Inc. increased its position in Blue Buffalo Pet Products by 94.0% in the second quarter. Vanguard Group Inc. now owns 5,299,211 shares of the company’s stock valued at $123,683,000 after buying an additional 2,567,667 shares during the last quarter. Hitchwood Capital Management LP increased its position in Blue Buffalo Pet Products by 2.9% in the second quarter. Hitchwood Capital Management LP now owns 3,600,000 shares of the company’s stock valued at $84,024,000 after buying an additional 100,000 shares during the last quarter. Neuberger Berman Group LLC increased its position in Blue Buffalo Pet Products by 3.2% in the second quarter. Neuberger Berman Group LLC now owns 2,593,167 shares of the company’s stock valued at $60,525,000 after buying an additional 80,003 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Blue Buffalo Pet Products by 68.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,439,087 shares of the company’s stock valued at $57,953,000 after buying an additional 987,288 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Blue Buffalo Pet Products by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 2,010,132 shares of the company’s stock valued at $47,762,000 after buying an additional 123,992 shares during the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.

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

Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) traded down 0.24% during trading on Friday, reaching $25.21. 588,217 shares of the company traded hands. Blue Buffalo Pet Products, Inc. has a 52 week low of $16.53 and a 52 week high of $27.50. The firm has a 50-day moving average price of $24.82 and a 200-day moving average price of $24.78. The company has a market capitalization of $4.95 billion, a P/E ratio of 47.48 and a beta of 2.04.

Blue Buffalo Pet Products (NASDAQ:BUFF) last released its earnings results on Thursday, November 10th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $288 million for the quarter, compared to the consensus estimate of $290.29 million. Blue Buffalo Pet Products had a net margin of 9.38% and a return on equity of 242.34%. Blue Buffalo Pet Products’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. Analysts forecast that Blue Buffalo Pet Products, Inc. will post $0.79 earnings per share for the current fiscal year.

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BUFF has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, January 10th. Susquehanna Bancshares Inc reiterated a “buy” rating and issued a $29.00 price target on shares of Blue Buffalo Pet Products in a research report on Tuesday, November 8th. DA Davidson reissued a “buy” rating and issued a $29.00 price objective on shares of Blue Buffalo Pet Products in a research note on Monday, November 7th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $29.00 price objective on shares of Blue Buffalo Pet Products in a research note on Thursday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.38.

About Blue Buffalo Pet Products

Blue Buffalo Pet Products, Inc (BBPP) is a holding company. The Company, through its subsidiaries, develops, produces, markets and sells pet food under the BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines. Blue Buffalo Company, Ltd. (Blue), Blue Buffalo Import Mexico, S.

5 Day Chart for NASDAQ:BUFF

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