First Trust Advisors LP lowered its stake in Freshpet Inc (NASDAQ:FRPT) by 15.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,267 shares of the company’s stock after selling 20,218 shares during the period. First Trust Advisors LP owned 0.31% of Freshpet worth $4,705,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in FRPT. FMR LLC boosted its holdings in Freshpet by 110,208.5% in the fourth quarter. FMR LLC now owns 298,936 shares of the company’s stock valued at $9,614,000 after acquiring an additional 298,665 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Freshpet by 35.2% during the 4th quarter. Victory Capital Management Inc. now owns 881,112 shares of the company’s stock valued at $28,336,000 after buying an additional 229,352 shares in the last quarter. Columbus Circle Investors bought a new stake in shares of Freshpet during the 1st quarter valued at $7,478,000. Castleark Management LLC bought a new stake in shares of Freshpet during the 4th quarter valued at $4,824,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Freshpet by 86.0% during the 4th quarter. Two Sigma Investments LP now owns 187,470 shares of the company’s stock valued at $6,029,000 after buying an additional 86,696 shares in the last quarter. Institutional investors and hedge funds own 86.75% of the company’s stock.
A number of analysts have recently commented on the stock. Credit Suisse Group set a $36.00 target price on shares of Freshpet and gave the company a “neutral” rating in a report on Tuesday, March 5th. BidaskClub upgraded shares of Freshpet from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Zacks Investment Research upgraded shares of Freshpet from a “strong sell” rating to a “hold” rating and set a $51.00 target price on the stock in a report on Monday, May 6th. Finally, TheStreet cut shares of Freshpet from a “b” rating to a “c” rating in a report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.00.
In related news, EVP Stephen Weise sold 5,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $47.50, for a total value of $237,500.00. Following the transaction, the executive vice president now owns 5,000 shares in the company, valued at approximately $237,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott James Morris sold 49,766 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $47.79, for a total transaction of $2,378,317.14. Following the completion of the transaction, the insider now owns 170,232 shares in the company, valued at approximately $8,135,387.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,275 shares of company stock worth $5,268,037. 5.10% of the stock is currently owned by company insiders.
Shares of FRPT stock opened at $48.50 on Wednesday. Freshpet Inc has a 12 month low of $23.75 and a 12 month high of $49.41. The firm has a market cap of $1.71 billion, a PE ratio of -323.33 and a beta of 1.22. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.07.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $54.80 million during the quarter, compared to the consensus estimate of $54.28 million. Freshpet had a negative return on equity of 4.46% and a negative net margin of 2.57%. The business’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) EPS. As a group, analysts expect that Freshpet Inc will post 0.08 earnings per share for the current year.
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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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