Richard A. Kassar Sells 8,977 Shares of Freshpet, Inc. (FRPT) Stock
Freshpet, Inc. (NASDAQ:FRPT) CFO Richard A. Kassar sold 8,977 shares of Freshpet stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.00, for a total value of $143,632.00. Following the completion of the transaction, the chief financial officer now owns 208,971 shares of the company’s stock, valued at approximately $3,343,536. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Freshpet, Inc. (FRPT) traded up 1.58% during midday trading on Wednesday, reaching $16.05. The company had a trading volume of 219,337 shares. The firm’s market capitalization is $510.39 million. The firm’s 50-day moving average price is $16.49 and its 200 day moving average price is $13.50. Freshpet, Inc. has a 12 month low of $7.60 and a 12 month high of $18.25.
Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01. Freshpet had a negative return on equity of 3.44% and a negative net margin of 2.57%. The firm had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.09 million. During the same period in the prior year, the business earned ($0.10) EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. Equities analysts anticipate that Freshpet, Inc. will post ($0.10) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in Freshpet by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock worth $343,000 after buying an additional 1,144 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Freshpet during the second quarter worth approximately $252,000. Cubist Systematic Strategies LLC purchased a new position in Freshpet during the second quarter worth approximately $498,000. Summit Partners Public Asset Management LLC purchased a new position in Freshpet during the second quarter worth approximately $4,150,000. Finally, State Street Corp increased its position in Freshpet by 18.1% in the second quarter. State Street Corp now owns 385,641 shares of the company’s stock worth $6,401,000 after buying an additional 58,972 shares in the last quarter. 63.86% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on FRPT. Zacks Investment Research cut Freshpet from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Imperial Capital began coverage on Freshpet in a research note on Thursday, July 20th. They set an “in-line” rating and a $16.50 target price for the company. They noted that the move was a valuation call. ValuEngine upgraded Freshpet from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group boosted their target price on Freshpet from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, May 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $20.00 target price (up previously from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $16.36.
Freshpet Company Profile
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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