PNC Financial Services Group Inc. lowered its position in shares of Freshpet Inc (NASDAQ:FRPT) by 49.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,396 shares of the company’s stock after selling 6,175 shares during the period. PNC Financial Services Group Inc.’s holdings in Freshpet were worth $105,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in FRPT. Fisher Asset Management LLC acquired a new stake in Freshpet in the first quarter worth about $199,000. JPMorgan Chase & Co. lifted its holdings in Freshpet by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 1,180,263 shares of the company’s stock worth $19,415,000 after purchasing an additional 9,130 shares during the period. BlackRock Inc. lifted its holdings in Freshpet by 0.3% in the first quarter. BlackRock Inc. now owns 1,526,129 shares of the company’s stock worth $25,105,000 after purchasing an additional 4,854 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Freshpet by 14.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 127,351 shares of the company’s stock worth $2,095,000 after purchasing an additional 16,490 shares during the period. Finally, Suffolk Capital Management LLC acquired a new stake in Freshpet in the first quarter worth about $785,000. Institutional investors and hedge funds own 74.98% of the company’s stock.
FRPT stock opened at $27.45 on Friday. Freshpet Inc has a one year low of $14.10 and a one year high of $27.55.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, May 7th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Freshpet had a negative net margin of 2.97% and a negative return on equity of 4.35%. The firm had revenue of $43.20 million for the quarter, compared to analysts’ expectations of $42.06 million. During the same period in the prior year, the company posted ($0.09) earnings per share. Freshpet’s quarterly revenue was up 25.2% compared to the same quarter last year. analysts forecast that Freshpet Inc will post -0.03 earnings per share for the current fiscal year.
In other Freshpet news, insider Scott James Morris sold 7,500 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $24.17, for a total transaction of $181,275.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Kassar sold 13,528 shares of the company’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $22.74, for a total transaction of $307,626.72. Following the sale, the chief financial officer now directly owns 213,522 shares of the company’s stock, valued at $4,855,490.28. The disclosure for this sale can be found here. Insiders have sold 48,474 shares of company stock valued at $1,073,795 over the last ninety days. Insiders own 6.80% of the company’s stock.
A number of equities research analysts have weighed in on FRPT shares. Zacks Investment Research raised shares of Freshpet from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. BidaskClub downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. SunTrust Banks reissued a “buy” rating and issued a $23.00 price target on shares of Freshpet in a report on Tuesday, March 6th. ValuEngine raised shares of Freshpet from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Credit Suisse Group upped their price target on shares of Freshpet from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, June 19th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.43.
Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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