Blue Buffalo Pet Products Inc (NASDAQ:BUFF) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 6,738,634 shares, a drop of 40.0% from the February 15th total of 11,231,402 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average trading volume of 6,597,901 shares, the short-interest ratio is presently 1.0 days.
BUFF has been the topic of a number of analyst reports. BidaskClub cut shares of Blue Buffalo Pet Products from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Oppenheimer reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Blue Buffalo Pet Products in a report on Wednesday, January 24th. Susquehanna Bancshares set a $41.00 price objective on shares of Blue Buffalo Pet Products and gave the stock a “buy” rating in a report on Friday, December 22nd. Deutsche Bank cut shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a report on Wednesday, December 13th. Finally, Wells Fargo & Co raised shares of Blue Buffalo Pet Products to a “buy” rating and set a $36.00 price objective on the stock in a report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.77.
Blue Buffalo Pet Products (NASDAQ BUFF) opened at $39.86 on Wednesday. The company has a market cap of $7,790.00 and a PE ratio of 39.86. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.17 and a current ratio of 3.74. Blue Buffalo Pet Products has a 52 week low of $21.51 and a 52 week high of $40.15.
In related news, CFO Michael Nathenson sold 62,708 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $32.72, for a total value of $2,051,805.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of the stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $32.43, for a total transaction of $687,516.00. Following the completion of the sale, the insider now directly owns 629,650 shares in the company, valued at approximately $20,419,549.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,088 shares of company stock worth $6,488,574. Corporate insiders own 7.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB bought a new position in shares of Blue Buffalo Pet Products during the 4th quarter valued at about $310,000. Halsey Associates Inc. CT boosted its position in shares of Blue Buffalo Pet Products by 2.0% during the 4th quarter. Halsey Associates Inc. CT now owns 531,045 shares of the company’s stock valued at $17,413,000 after purchasing an additional 10,448 shares in the last quarter. PEAK6 Investments L.P. bought a new position in shares of Blue Buffalo Pet Products during the 4th quarter valued at about $261,000. Millennium Management LLC bought a new position in shares of Blue Buffalo Pet Products during the 4th quarter valued at about $471,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Blue Buffalo Pet Products during the 4th quarter valued at about $2,573,000. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
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.
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