Friday, 23 March, 2018

Blue Buffalo Pet Products Inc Stock Soars on General Mills Deal

Bags of Blue Buffalo pet food Richard Levine | Corbis | Getty Images Bags of Blue Buffalo pet food
Nellie Chapman | 24 February, 2018, 06:37

The company traded as high as $39.86 and last traded at $34.12, with a volume of 1459000 shares. The stock had previously closed at $57.60, but opened at $54.95.

GIS has been the topic of a number of recent analyst reports. Deutsche Bank initiated the shares of BUFF in report on Monday, August 17 with "Buy" rating.

Among 14 analysts covering Callidus Software (NASDAQ:CALD), 6 have Buy rating, 1 Sell and 7 Hold. Susquehanna maintained the shares of BUFF in report on Thursday, February 1 with "Buy" rating. In last 4 months performance of AMRS was 59.78% while its price to sale ratio is 3.02.

The firm manages almost $6 billion for various clients. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.21 by $0.06.

Blue Buffalo had $1.275 billion in sales in 2017, representing year-over-year growth of 10.9%.

Blue Buffalo Pet Products made about $1.275 billion in sales in 2017, and General Mills reports it sees consistent growth in the brand between 3 and 4 percent in the $30 billion USA pet food market.

In other news, insider William W. Bishop, Jr. sold 21,200 shares of the company's stock in a transaction that occurred on Wednesday, December 13th. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

The investigation concerns whether the Board of Blue Buffalo breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether General Mills is underpaying for Blue Buffalo shares, thus unlawfully harming Blue Buffalo shareholders. Following the transaction, the chief executive officer now owns 629,650 shares of the company's stock, valued at approximately $20,406,956.50. In the last 90 days, insiders have sold 214,288 shares of company stock valued at $6,977,870. The company has market cap of $7.78 billion.

Several institutional investors have recently modified their holdings of BUFF. Billy Bishop, Blue Buffalo's CEO, will stay in his position. Flagship Harbor Advisors LLC now owns 8,217 shares of the company's stock worth $440,000 after purchasing an additional 572 shares during the period.

But there are limits to how much buyers are willing to spend, said Jagdale, who doesn't see another company stepping forward to acquire Blue Buffalo. Northern Trust Corp now owns 490,499 shares of the company's stock worth $11,188,000 after acquiring an additional 60,116 shares in the last quarter.

The stock of Blue Buffalo Pet Products, Inc. Avestar Capital LLC purchased a new position in shares of General Mills during the 4th quarter worth $100,000. Institutional investors and hedge funds own 72.89% of the company's stock. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & global copyright and trademark law.

Blue Buffalo, established in Wilton, Connecticut, in 2002, reported $1.3 billion in net sales in its last fiscal year, according to The Wall Street Journal. This has given rise to the development of many pet food strategies.

The $30bn U.S. pet food market is generating consistent 3-4% growth, which Millls claims is "highly attractive for retailers" based on continued market growth, premiumisation and subscription-like purchase patterns that drive traffic and repeat purchases.