Millennium Management LLC decreased its position in shares of Freshpet Inc (NASDAQ:FRPT) by 69.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,800 shares of the company’s stock after selling 78,773 shares during the period. Millennium Management LLC’s holdings in Freshpet were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caption Management LLC acquired a new stake in Freshpet in the 2nd quarter valued at $2,470,000. Manatuck Hill Partners LLC increased its stake in Freshpet by 409.2% in the 2nd quarter. Manatuck Hill Partners LLC now owns 305,500 shares of the company’s stock valued at $8,386,000 after buying an additional 245,500 shares during the last quarter. King Luther Capital Management Corp acquired a new stake in Freshpet in the 2nd quarter valued at $485,000. Renaissance Technologies LLC acquired a new stake in Freshpet in the 2nd quarter valued at $371,000. Finally, BlackRock Inc. increased its stake in Freshpet by 10.1% in the 2nd quarter. BlackRock Inc. now owns 1,679,807 shares of the company’s stock valued at $46,110,000 after buying an additional 153,678 shares during the last quarter. 72.97% of the stock is owned by institutional investors.
Several research firms have recently weighed in on FRPT. Stifel Nicolaus boosted their price objective on shares of Freshpet from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Credit Suisse Group boosted their price objective on shares of Freshpet from $26.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, August 13th. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BidaskClub lowered shares of Freshpet from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Finally, Robert W. Baird boosted their price objective on shares of Freshpet from $27.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, July 30th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.14.
Freshpet stock opened at $35.44 on Tuesday. Freshpet Inc has a fifty-two week low of $15.39 and a fifty-two week high of $40.58.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $47.60 million for the quarter, compared to analyst estimates of $46.08 million. Freshpet had a negative return on equity of 5.05% and a negative net margin of 3.33%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. As a group, research analysts expect that Freshpet Inc will post -0.05 earnings per share for the current year.
In related news, COO Scott James Morris sold 3,512 shares of Freshpet stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $37.75, for a total transaction of $132,578.00. Following the completion of the sale, the chief operating officer now owns 173,672 shares of the company’s stock, valued at approximately $6,556,118. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen Macchiaverna sold 5,000 shares of Freshpet stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $33.00, for a total transaction of $165,000.00. Following the sale, the vice president now directly owns 77,938 shares of the company’s stock, valued at approximately $2,571,954. The disclosure for this sale can be found here. Insiders have sold a total of 100,546 shares of company stock worth $3,458,300 over the last 90 days. 5.10% of the stock is owned by company insiders.
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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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