Freshpet (NASDAQ:FRPT) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
FRPT has been the subject of several other research reports. Zacks Investment Research upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, July 18th. Imperial Capital increased their price objective on shares of Freshpet from $18.00 to $35.00 and gave the company an “in-line” rating in a research report on Tuesday. Robert W. Baird raised their target price on shares of Freshpet from $27.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. Credit Suisse Group raised their target price on shares of Freshpet from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Finally, Stifel Nicolaus raised their target price on shares of Freshpet from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $29.57.
FRPT stock opened at $36.18 on Thursday. Freshpet has a 52 week low of $15.67 and a 52 week high of $40.58.
In other news, COO Scott James Morris sold 3,512 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $37.75, for a total value of $132,578.00. Following the completion of the sale, the chief operating officer now owns 173,672 shares in the company, valued at approximately $6,556,118. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard A. Kassar sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $33.85, for a total transaction of $677,000.00. The disclosure for this sale can be found here. Insiders sold a total of 76,096 shares of company stock valued at $2,639,500 in the last 90 days. Company insiders own 5.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of FRPT. DekaBank Deutsche Girozentrale increased its stake in Freshpet by 132.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,654 shares of the company’s stock worth $168,000 after buying an additional 2,654 shares during the period. SG Americas Securities LLC purchased a new position in Freshpet in the 3rd quarter worth about $206,000. Wedge Capital Management L L P NC purchased a new position in Freshpet in the 2nd quarter worth about $217,000. IFG Advisory LLC purchased a new position in Freshpet in the 3rd quarter worth about $234,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Freshpet in the 2nd quarter worth about $263,000. 72.97% of the stock is currently owned by institutional investors.
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.
See Also: Outstanding Shares
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