Engineers Gate Manager LP boosted its stake in Freshpet Inc (NASDAQ:FRPT) by 13.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,750 shares of the company’s stock after purchasing an additional 3,363 shares during the quarter. Engineers Gate Manager LP owned about 0.08% of Freshpet worth $1,055,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new stake in Freshpet in the second quarter valued at approximately $217,000. State Board of Administration of Florida Retirement System purchased a new stake in Freshpet in the second quarter valued at approximately $263,000. Strs Ohio purchased a new stake in Freshpet in the third quarter valued at approximately $348,000. Renaissance Technologies LLC purchased a new stake in Freshpet in the second quarter valued at approximately $371,000. Finally, Royal Bank of Canada grew its holdings in Freshpet by 26.4% in the first quarter. Royal Bank of Canada now owns 24,867 shares of the company’s stock valued at $409,000 after purchasing an additional 5,199 shares during the period. Hedge funds and other institutional investors own 72.97% of the company’s stock.
A number of research firms recently issued reports on FRPT. Stifel Nicolaus boosted their target price on shares of Freshpet from $27.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Credit Suisse Group boosted their target price on shares of Freshpet from $26.00 to $32.00 and gave the company a “hold” rating in a report on Monday, August 13th. Zacks Investment Research downgraded shares of Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. BidaskClub downgraded shares of Freshpet from a “strong-buy” rating to a “buy” rating in a report on Friday, October 5th. Finally, Robert W. Baird boosted their target price on shares of Freshpet from $27.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Freshpet currently has a consensus rating of “Hold” and an average target price of $29.57.
Shares of FRPT stock opened at $36.18 on Friday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -301.50 and a beta of 1.55. Freshpet Inc has a fifty-two week low of $15.67 and a fifty-two week high of $40.58.
In other Freshpet news, CFO Richard A. Kassar sold 20,000 shares of Freshpet stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $33.85, for a total transaction of $677,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Stephen Macchiaverna sold 6,000 shares of Freshpet stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $35.40, for a total transaction of $212,400.00. Following the transaction, the vice president now directly owns 78,938 shares in the company, valued at $2,794,405.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,096 shares of company stock worth $2,639,500. 5.10% of the stock is currently owned by corporate insiders.
Freshpet Company Profile
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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