Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,568 shares of the company’s stock after purchasing an additional 343 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Freshpet were worth $1,068,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Freshpet by 36.3% during the second quarter. Vanguard Group Inc. now owns 2,913,207 shares of the company’s stock valued at $243,719,000 after purchasing an additional 775,811 shares in the last quarter. FMR LLC increased its holdings in shares of Freshpet by 45.8% in the 2nd quarter. FMR LLC now owns 1,961,530 shares of the company’s stock worth $164,102,000 after buying an additional 616,068 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Freshpet by 24.7% in the 2nd quarter. Federated Hermes Inc. now owns 710,706 shares of the company’s stock valued at $59,458,000 after acquiring an additional 140,631 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Freshpet by 5,030.8% in the 2nd quarter. Victory Capital Management Inc. now owns 557,567 shares of the company’s stock valued at $46,647,000 after acquiring an additional 546,700 shares during the last quarter. Finally, Rathbone Brothers plc purchased a new position in Freshpet in the second quarter worth about $45,260,000. Institutional investors own 96.40% of the company’s stock.
Several research firms have recently issued reports on FRPT. Oppenheimer assumed coverage on Freshpet in a report on Monday, August 3rd. They issued a “hold” rating for the company. Atlantic Securities assumed coverage on shares of Freshpet in a research report on Monday, October 5th. They set an “overweight” rating and a $131.00 price objective on the stock. Smith Barney Citigroup raised their target price on shares of Freshpet from $93.00 to $100.00 in a report on Wednesday, November 4th. TheStreet downgraded shares of Freshpet from a “b” rating to a “c+” rating in a report on Monday, November 2nd. Finally, ValuEngine raised shares of Freshpet from a “hold” rating to a “buy” rating in a research note on Monday, October 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $99.67.
NASDAQ FRPT opened at $135.75 on Friday. Freshpet, Inc. has a one year low of $40.79 and a one year high of $139.71. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 1,234.20 and a beta of 0.83. The company’s 50-day simple moving average is $122.94 and its two-hundred day simple moving average is $99.85.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). The business had revenue of $84.20 million for the quarter, compared to analysts’ expectations of $84.05 million. Freshpet had a net margin of 1.60% and a return on equity of 1.49%. The business’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. As a group, equities research analysts expect that Freshpet, Inc. will post 0.14 earnings per share for the current year.
In related news, COO Scott James Morris sold 5,353 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $136.80, for a total transaction of $732,290.40. Following the completion of the transaction, the chief operating officer now owns 161,677 shares in the company, valued at approximately $22,117,413.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stephen Macchiaverna sold 4,856 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $114.00, for a total transaction of $553,584.00. Following the sale, the vice president now directly owns 88,973 shares of the company’s stock, valued at approximately $10,142,922. The disclosure for this sale can be found here. Insiders sold a total of 37,209 shares of company stock worth $4,908,724 over the last quarter. Company insiders own 4.50% of the company’s stock.
Freshpet Company Profile
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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