Schwab Charles Investment Management Inc. grew its holdings in shares of Freshpet Inc (NASDAQ:FRPT) by 43.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,125 shares of the company’s stock after acquiring an additional 30,189 shares during the period. Schwab Charles Investment Management Inc. owned 0.28% of Freshpet worth $1,552,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Voya Investment Management LLC acquired a new stake in Freshpet during the 2nd quarter worth about $188,000. Brighton Jones LLC acquired a new stake in Freshpet during the 3rd quarter worth about $232,000. Arrowstreet Capital Limited Partnership acquired a new stake in Freshpet during the 2nd quarter worth about $252,000. Citadel Advisors LLC grew its holdings in Freshpet by 4.0% during the 2nd quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock worth $321,000 after acquiring an additional 750 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Freshpet by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock worth $343,000 after acquiring an additional 1,144 shares during the period. Hedge funds and other institutional investors own 69.77% of the company’s stock.
In related news, COO Scott James Morris sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the transaction, the chief operating officer now owns 212,307 shares of the company’s stock, valued at approximately $3,651,680.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Stephen Macchiaverna sold 4,946 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $17.34, for a total transaction of $85,763.64. Following the completion of the transaction, the vice president now directly owns 77,884 shares in the company, valued at approximately $1,350,508.56. The disclosure for this sale can be found here. Insiders have sold a total of 68,218 shares of company stock worth $1,211,499 in the last three months. Insiders own 6.80% of the company’s stock.
A number of brokerages have weighed in on FRPT. Zacks Investment Research downgraded Freshpet from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. BidaskClub downgraded Freshpet from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Robert W. Baird reiterated a “buy” rating and set a $22.00 price target on shares of Freshpet in a report on Wednesday, January 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of Freshpet in a report on Friday, December 15th. Finally, TheStreet upgraded Freshpet from a “d+” rating to a “c-” rating in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.64.
Freshpet Inc (NASDAQ FRPT) opened at $18.65 on Friday. Freshpet Inc has a 1 year low of $9.25 and a 1 year high of $20.50.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The company had revenue of $41.20 million for the quarter, compared to analysts’ expectations of $41.19 million. Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. equities analysts predict that Freshpet Inc will post -0.11 earnings per share for the current year.
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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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