Wrapmanager Inc. reduced its stake in Freshpet Inc (NASDAQ:FRPT) by 18.9% during the first quarter, HoldingsChannel.com reports. The firm owned 7,820 shares of the company’s stock after selling 1,819 shares during the period. Wrapmanager Inc.’s holdings in Freshpet were worth $331,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Freshpet by 110,208.5% during the fourth quarter. FMR LLC now owns 298,936 shares of the company’s stock valued at $9,614,000 after buying an additional 298,665 shares during the period. Victory Capital Management Inc. increased its stake in shares of Freshpet by 35.2% during the fourth 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 during the period. Columbus Circle Investors purchased a new position in shares of Freshpet during the first quarter valued at approximately $7,478,000. Castleark Management LLC purchased a new position in shares of Freshpet during the fourth quarter valued at approximately $4,824,000. Finally, Federated Investors Inc. PA purchased a new position in shares of Freshpet during the third quarter valued at approximately $4,831,000. 75.29% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ FRPT opened at $46.30 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.72 and a current ratio of 1.08. Freshpet Inc has a twelve month low of $20.42 and a twelve month high of $47.60. The company has a market cap of $1.61 billion, a P/E ratio of -308.67 and a beta of 1.34.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Freshpet had a negative net margin of 2.57% and a negative return on equity of 4.46%. The firm had revenue of $54.80 million for the quarter, compared to the consensus estimate of $54.28 million. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. Research analysts predict that Freshpet Inc will post 0.08 EPS for the current fiscal year.
In other Freshpet news, VP Stephen Macchiaverna sold 25,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the sale, the vice president now directly owns 90,860 shares of the company’s stock, valued at $3,634,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott James Morris sold 50,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total value of $2,000,000.00. Following the completion of the sale, the insider now directly owns 181,298 shares in the company, valued at $7,251,920. The disclosure for this sale can be found here. Insiders have sold 4,075,000 shares of company stock worth $157,280,000 over the last 90 days. 5.10% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on FRPT shares. BidaskClub upgraded Freshpet from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. SunTrust Banks lifted their price target on Freshpet to $45.00 and gave the company a “positive” rating in a research report on Wednesday, January 16th. Credit Suisse Group set a $36.00 price target on Freshpet and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Imperial Capital restated an “in-line” rating and set a $40.00 price target (up from $35.00) on shares of Freshpet in a research report on Monday, March 4th. Finally, TheStreet upgraded Freshpet from a “c+” rating to a “b” rating in a research report on Tuesday, February 26th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Freshpet presently has a consensus rating of “Buy” and an average price target of $40.00.
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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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