Wasatch Advisors Inc. reduced its position in shares of Freshpet Inc (NASDAQ:FRPT) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 819,514 shares of the company’s stock after selling 13,186 shares during the quarter. Wasatch Advisors Inc. owned 2.35% of Freshpet worth $15,530,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its stake in Freshpet by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock worth $1,145,000 after buying an additional 380 shares in the last quarter. Rhumbline Advisers boosted its position in Freshpet by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 25,267 shares of the company’s stock worth $419,000 after buying an additional 1,640 shares during the period. Bank of New York Mellon Corp boosted its position in Freshpet by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 599,954 shares of the company’s stock worth $9,960,000 after buying an additional 68,254 shares during the period. Teachers Advisors LLC boosted its position in Freshpet by 21.3% during the 2nd quarter. Teachers Advisors LLC now owns 44,712 shares of the company’s stock worth $742,000 after buying an additional 7,855 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Freshpet by 10.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 83,853 shares of the company’s stock worth $1,392,000 after buying an additional 7,839 shares during the period. 69.61% of the stock is currently owned by institutional investors.
Shares of Freshpet Inc (FRPT) traded up $0.70 during trading hours on Friday, hitting $18.75. 160,713 shares of the company were exchanged, compared to its average volume of 139,975. The stock has a market cap of $653.65, a P/E ratio of -133.92 and a beta of 1.77. Freshpet Inc has a 52 week low of $9.25 and a 52 week high of $20.50.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The company had revenue of $41.20 million for the quarter, compared to the consensus estimate of $41.19 million. During the same period in the previous year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. analysts anticipate that Freshpet Inc will post -0.11 EPS for the current fiscal year.
Several research firms have issued reports on FRPT. Zacks Investment Research lowered shares of Freshpet from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Credit Suisse Group raised their price target on shares of Freshpet from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Robert W. Baird restated a “buy” rating and set a $22.00 price target on shares of Freshpet in a report on Wednesday, January 3rd. BidaskClub upgraded shares of Freshpet from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Freshpet in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Freshpet currently has an average rating of “Hold” and a consensus target price of $19.07.
In other news, CFO Richard A. Kassar sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $18.93, for a total transaction of $189,300.00. Following the sale, the chief financial officer now directly owns 209,994 shares in the company, valued at $3,975,186.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott James Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $18.71, for a total transaction of $46,775.00. The disclosure for this sale can be found here. Insiders sold a total of 58,218 shares of company stock worth $1,039,499 over the last 90 days. 6.80% of the stock is currently owned by company insiders.
Freshpet, Inc is a manufacturer of fresh, refrigerated pet food distributed across North America. The Company operates in the segment of manufacturing, marketing and distribution of pet food and pet treats for dogs and cats. The Company’s products consist of dog food, cat food, and dog and cat treats.
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