Trexquant Investment LP Cuts Position in Blue Buffalo Pet Products, Inc. (BUFF)

Trexquant Investment LP cut its position in shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) by 28.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 25,600 shares of the company’s stock after selling 10,106 shares during the period. Trexquant Investment LP’s holdings in Blue Buffalo Pet Products were worth $584,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Blue Buffalo Pet Products during the fourth quarter worth approximately $485,000. Parametrica Management Ltd acquired a new stake in shares of Blue Buffalo Pet Products during the first quarter worth approximately $440,000. Argent Capital Management LLC boosted its stake in shares of Blue Buffalo Pet Products by 2.5% in the first quarter. Argent Capital Management LLC now owns 20,780 shares of the company’s stock worth $478,000 after buying an additional 500 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Blue Buffalo Pet Products during the fourth quarter worth approximately $134,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Blue Buffalo Pet Products by 67.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 603,176 shares of the company’s stock worth $14,500,000 after buying an additional 242,844 shares during the last quarter. 88.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF) opened at 23.70 on Friday. The firm’s 50 day moving average is $22.61 and its 200 day moving average is $23.70. Blue Buffalo Pet Products, Inc. has a 1-year low of $21.51 and a 1-year high of $26.74. The firm has a market capitalization of $4.67 billion, a PE ratio of 33.38 and a beta of 1.95.

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

Blue Buffalo Pet Products declared that its board has authorized a stock buyback plan on Tuesday, August 8th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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Several research firms have issued reports on BUFF. Zacks Investment Research cut shares of Blue Buffalo Pet Products from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Robert W. Baird began coverage on shares of Blue Buffalo Pet Products in a research note on Monday, July 24th. They set a “neutral” rating and a $23.00 price target on the stock. Susquehanna Bancshares Inc reaffirmed a “positive” rating on shares of Blue Buffalo Pet Products in a research note on Thursday, April 20th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $25.00 price target (down from $28.00) on shares of Blue Buffalo Pet Products in a research note on Wednesday, June 28th. Finally, BidaskClub cut shares of Blue Buffalo Pet Products from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Blue Buffalo Pet Products has an average rating of “Buy” and a consensus price target of $27.00.

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

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