Blue Buffalo Pet Products Inc (BUFF) Stake Lowered by New York State Common Retirement Fund

Blue Buffalo Pet Products Inc (BUFF) Stake Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Blue Buffalo Pet Products Inc (NASDAQ:BUFF) by 6.1% during the third quarter, Holdings Channel reports. The institutional investor owned 123,000 shares of the company’s stock after selling 8,000 shares during the period. New York State Common Retirement Fund owned about 0.06% of Blue Buffalo Pet Products worth $2,922,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY raised its position in shares of Blue Buffalo Pet Products by 96.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,485 shares of the company’s stock worth $105,000 after buying an additional 2,205 shares in the last quarter. BlackRock Japan Co. Ltd increased its stake in Blue Buffalo Pet Products by 382.9% in the second quarter. BlackRock Japan Co. Ltd now owns 5,447 shares of the company’s stock worth $127,000 after buying an additional 4,319 shares during the last quarter. Legal & General Group Plc increased its stake in Blue Buffalo Pet Products by 2.1% in the second quarter. Legal & General Group Plc now owns 5,655 shares of the company’s stock worth $132,000 after buying an additional 116 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Blue Buffalo Pet Products by 578.4% in the second quarter. Tower Research Capital LLC TRC now owns 6,737 shares of the company’s stock worth $157,000 after buying an additional 5,744 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new stake in Blue Buffalo Pet Products during the second quarter worth $168,000. 85.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Blue Buffalo Pet Products Inc (NASDAQ:BUFF) traded down 0.69% during mid-day trading on Friday, hitting $24.41. The company had a trading volume of 189,526 shares. Blue Buffalo Pet Products Inc has a one year low of $15.19 and a one year high of $27.50. The company’s 50-day moving average is $24.73 and its 200 day moving average is $24.84. The company has a market capitalization of $4.80 billion, a PE ratio of 45.97 and a beta of 2.05.

Blue Buffalo Pet Products (NASDAQ:BUFF) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $288 million for the quarter, compared to analyst estimates of $290.29 million. Blue Buffalo Pet Products had a return on equity of 242.34% and a net margin of 9.38%. Blue Buffalo Pet Products’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. On average, equities research analysts forecast that Blue Buffalo Pet Products Inc will post $0.79 EPS for the current fiscal year.

A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Blue Buffalo Pet Products from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, October 25th. DA Davidson reiterated a “buy” rating and set a $29.00 target price on shares of Blue Buffalo Pet Products in a research report on Monday, November 7th. Finally, Susquehanna assumed coverage on Blue Buffalo Pet Products in a research report on Monday, October 24th. They set a “positive” rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $29.50.

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.

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