Blue Buffalo Pet Products (BUFF) Stake Lessened by First Mercantile Trust Co.

First Mercantile Trust Co. reduced its position in shares of Blue Buffalo Pet Products (NASDAQ:BUFF) by 51.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,300 shares of the company’s stock after selling 5,691 shares during the quarter. First Mercantile Trust Co.’s holdings in Blue Buffalo Pet Products were worth $211,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BUFF. Schwab Charles Investment Management Inc. boosted its stake in shares of Blue Buffalo Pet Products by 9.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 488,354 shares of the company’s stock worth $16,014,000 after acquiring an additional 43,927 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Blue Buffalo Pet Products during the 4th quarter worth about $222,000. Personal Capital Advisors Corp boosted its stake in shares of Blue Buffalo Pet Products by 32.5% during the 4th quarter. Personal Capital Advisors Corp now owns 147,255 shares of the company’s stock worth $4,828,000 after acquiring an additional 36,127 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Blue Buffalo Pet Products during the 4th quarter worth about $563,000. Finally, Fisher Asset Management LLC purchased a new stake in shares of Blue Buffalo Pet Products during the 4th quarter worth about $2,692,000. 94.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of Blue Buffalo Pet Products stock opened at $40.00 on Friday. The stock 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 twelve month low of $21.51 and a twelve month high of $40.15. 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 (NASDAQ:BUFF) last issued its quarterly earnings results on Friday, February 23rd. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.06. The firm had revenue of $336.96 million for the quarter, compared to analyst estimates of $320.58 million. Blue Buffalo Pet Products had a net margin of 15.18% and a return on equity of 77.83%. Blue Buffalo Pet Products’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. sell-side analysts forecast that Blue Buffalo Pet Products will post 1.18 EPS for the current year.

In other Blue Buffalo Pet Products news, CEO William W. Bishop, Jr. sold 3,180 shares of the firm’s stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $39.88, for a total value of $126,818.40. Following the transaction, the chief executive officer now directly owns 591,490 shares of the company’s stock, valued at approximately $23,588,621.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William W. Bishop, Jr. sold 21,200 shares of the firm’s stock in a transaction that occurred on Thursday, April 19th. The stock was sold at an average price of $39.98, for a total transaction of $847,576.00. Following the completion of the transaction, the insider now directly owns 578,770 shares in the company, valued at $23,139,224.60. 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 three months. Corporate insiders own 7.70% of the company’s stock.

Several equities research analysts have recently issued reports on BUFF shares. BidaskClub lowered shares of Blue Buffalo Pet Products from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. Robert W. Baird reissued a “hold” rating and set a $40.00 target price on shares of Blue Buffalo Pet Products in a research note on Friday, February 23rd. Citigroup lowered shares of Blue Buffalo Pet Products from a “buy” rating to a “neutral” rating in a research note on Monday, February 26th. Oppenheimer reaffirmed a “buy” rating and issued a $37.00 price target on shares of Blue Buffalo Pet Products in a research note on Wednesday, January 24th. Finally, ValuEngine raised shares of Blue Buffalo Pet Products from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Blue Buffalo Pet Products has a consensus rating of “Hold” and a consensus target price of $35.50.

About Blue Buffalo Pet Products

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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