Northern Trust Corp raised its stake in Freshpet, Inc. (NASDAQ:FRPT) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 448,884 shares of the company’s stock after purchasing an additional 26,377 shares during the quarter. Northern Trust Corp owned 1.41% of Freshpet worth $7,451,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. New York State Common Retirement Fund grew its stake in shares of Freshpet by 178.6% in the 2nd quarter. New York State Common Retirement Fund now owns 52,940 shares of the company’s stock valued at $879,000 after purchasing an additional 33,939 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Freshpet by 10.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 83,853 shares of the company’s stock valued at $1,392,000 after purchasing an additional 7,839 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Freshpet by 21.3% in the 2nd quarter. Teachers Advisors LLC now owns 44,712 shares of the company’s stock valued at $742,000 after purchasing an additional 7,855 shares during the last quarter. Timpani Capital Management LLC purchased a new position in shares of Freshpet in the 2nd quarter valued at approximately $1,659,000. Finally, Alliancebernstein L.P. grew its stake in shares of Freshpet by 10.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,537,586 shares of the company’s stock valued at $42,124,000 after purchasing an additional 233,847 shares during the last quarter. Institutional investors own 68.07% of the company’s stock.
Shares of Freshpet, Inc. (NASDAQ:FRPT) opened at $17.40 on Friday. Freshpet, Inc. has a 1-year low of $8.25 and a 1-year high of $18.25.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, November 6th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $41.20 million during the quarter, compared to analysts’ expectations of $41.19 million. Freshpet had a negative return on equity of 4.19% and a negative net margin of 3.04%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. research analysts expect that Freshpet, Inc. will post -0.11 EPS for the current fiscal year.
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Several research analysts have weighed in on the company. Zacks Investment Research downgraded Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday. Credit Suisse Group lifted their target price on Freshpet from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, November 7th. Robert W. Baird set a $20.00 target price on Freshpet and gave the company a “buy” rating in a research note on Sunday, October 15th. Susquehanna Bancshares Inc assumed coverage on Freshpet in a report on Monday, October 2nd. They issued a “neutral” rating and a $15.00 price target for the company. Finally, BidaskClub cut Freshpet from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $18.36.
In related news, CFO Richard A. Kassar sold 23,239 shares of Freshpet stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $16.00, for a total transaction of $371,824.00. Following the completion of the transaction, the chief financial officer now directly owns 208,971 shares of the company’s stock, valued at $3,343,536. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Stephen Macchiaverna sold 6,000 shares of Freshpet stock in a transaction on Friday, September 15th. The stock was sold at an average price of $15.81, for a total value of $94,860.00. Following the transaction, the vice president now directly owns 78,938 shares of the company’s stock, valued at $1,248,009.78. The disclosure for this sale can be found here. Insiders sold a total of 40,954 shares of company stock valued at $653,704 over the last three months. Insiders own 6.80% of the company’s stock.
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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