Chicago Capital Management LLC Invests $7.66 Million in Blue Buffalo Pet Products (BUFF) Stock

Chicago Capital Management LLC acquired a new position in shares of Blue Buffalo Pet Products (NASDAQ:BUFF) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 192,453 shares of the company’s stock, valued at approximately $7,662,000. Blue Buffalo Pet Products comprises about 3.0% of Chicago Capital Management LLC’s holdings, making the stock its 14th biggest position. Chicago Capital Management LLC owned 0.10% of Blue Buffalo Pet Products as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in Blue Buffalo Pet Products during the 1st quarter worth $107,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 worth $177,000 after buying an additional 1,656 shares during the last quarter. Prudential Financial Inc. purchased a new position in Blue Buffalo Pet Products during the 1st quarter worth $223,000. Pitcairn Co. purchased a new position in Blue Buffalo Pet Products during the 4th quarter worth $207,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Blue Buffalo Pet Products during the 4th quarter worth $212,000. Institutional investors own 94.55% of the company’s stock.

In related news, CEO William W. Bishop, Jr. sold 3,180 shares of the stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $39.88, for a total value of $126,818.40. Following 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider William W. Bishop, Jr. sold 21,200 shares of the stock in a transaction dated Thursday, April 19th. The shares were sold at an average price of $39.98, for a total transaction of $847,576.00. Following the completion of the sale, 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. Over the last three months, insiders sold 66,780 shares of company stock worth $2,664,882. 7.70% of the stock is owned by corporate insiders.

A number of equities analysts have recently weighed in on BUFF shares. Zacks Investment Research raised shares of 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 note on Wednesday, February 28th. BidaskClub cut shares of Blue Buffalo Pet Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 6th. Citigroup cut shares of Blue Buffalo Pet Products from a “buy” rating to a “neutral” rating in a research note on Monday, February 26th. Robert W. Baird reaffirmed a “hold” rating and set a $40.00 price target on shares of Blue Buffalo Pet Products in a research note on Friday, February 23rd. Finally, Wells Fargo cut shares of Blue Buffalo Pet Products from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $36.00 to $40.00 in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.50.

Shares of Blue Buffalo Pet Products opened at $40.00 on Friday, according to Marketbeat.com. The stock has a market capitalization of $7.91 billion, a P/E ratio of 42.11, a price-to-earnings-growth 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. 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 data on Friday, February 23rd. The company reported $0.27 EPS 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 analysts’ expectations of $320.58 million. Blue Buffalo Pet Products had a net margin of 15.18% and a return on equity of 77.83%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. equities research analysts expect that Blue Buffalo Pet Products will post 1.18 earnings per share for the current year.

Blue Buffalo Pet Products Company 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.

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

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