Blue Buffalo Pet Products (BUFF) Holdings Trimmed by Neuberger Berman Group LLC

Neuberger Berman Group LLC lowered its holdings in shares of Blue Buffalo Pet Products (NASDAQ:BUFF) by 20.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,088,793 shares of the company’s stock after selling 553,067 shares during the period. Neuberger Berman Group LLC owned approximately 1.07% of Blue Buffalo Pet Products worth $83,155,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Blue Buffalo Pet Products during the 1st quarter valued at $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Blue Buffalo Pet Products by 44.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,388 shares of the company’s stock valued at $177,000 after purchasing an additional 1,656 shares during the period. Prudential Financial Inc. acquired a new position in shares of Blue Buffalo Pet Products during the 1st quarter valued at $223,000. Pitcairn Co. acquired a new position in shares of Blue Buffalo Pet Products during the 4th quarter valued at $207,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Blue Buffalo Pet Products during the 4th quarter valued at $212,000. Institutional investors own 94.55% of the company’s stock.

Several equities analysts have recently issued reports on BUFF shares. Zacks Investment Research upgraded Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, February 28th. BidaskClub cut Blue Buffalo Pet Products from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Oppenheimer reiterated a “buy” rating and set a $37.00 price target on shares of Blue Buffalo Pet Products in a research report on Wednesday, January 24th. ValuEngine upgraded Blue Buffalo Pet Products from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $40.00 price target on shares of Blue Buffalo Pet Products in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $35.50.

Shares of NASDAQ BUFF opened at $40.00 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.17 and a current ratio of 3.74. The firm has a market capitalization of $7.91 billion, a P/E ratio of 42.11, a P/E/G ratio of 1.41 and a beta of 1.38. Blue Buffalo Pet Products has a 52-week low of $21.51 and a 52-week high of $40.15.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its earnings results on Friday, February 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.06. The business had revenue of $336.96 million for the quarter, compared to analysts’ expectations of $320.58 million. Blue Buffalo Pet Products had a return on equity of 77.83% and a net margin of 15.18%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. research analysts expect that Blue Buffalo Pet Products will post 1.18 EPS for the current fiscal year.

In other news, insider William W. Bishop, Jr. sold 21,200 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $39.87, for a total value of $845,244.00. Following the completion of the sale, the insider now owns 597,850 shares of the company’s stock, valued at $23,836,279.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William W. Bishop, Jr. sold 3,180 shares of the firm’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $39.88, for a total value of $126,818.40. Following the completion of the sale, the chief executive officer now directly owns 591,490 shares of the company’s stock, valued at approximately $23,588,621.20. The disclosure for this sale can be found here. Insiders sold a total of 66,780 shares of company stock worth $2,664,882 over the last 90 days. Insiders own 7.70% of the company’s stock.

Blue Buffalo Pet Products Profile

Blue Buffalo Pet Products, Inc, through its subsidiary, Blue Buffalo Company, Ltd., operates as a pet food company in the United States, Canada, Japan, and Mexico. It develops, produces, markets, and sells dog and cat food under the 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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