Freshpet, Inc. (FRPT) CFO Richard A. Kassar Sells 23,239 Shares
Freshpet, Inc. (NASDAQ:FRPT) CFO Richard A. Kassar sold 23,239 shares of Freshpet stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $16.00, for a total value of $371,824.00. Following the sale, the chief financial officer now directly owns 208,971 shares in the company, valued at $3,343,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Freshpet, Inc. (FRPT) traded up 1.58% during trading on Wednesday, reaching $16.05. The company’s stock had a trading volume of 219,337 shares. Freshpet, Inc. has a 1-year low of $7.60 and a 1-year high of $18.25. The stock’s market capitalization is $510.39 million. The company’s 50-day moving average price is $16.49 and its 200 day moving average price is $13.50.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. Freshpet had a negative return on equity of 3.44% and a negative net margin of 2.57%. The business had revenue of $39.97 million during the quarter, compared to analyst estimates of $38.09 million. During the same period last year, the company earned ($0.10) EPS. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts anticipate that Freshpet, Inc. will post ($0.10) EPS for the current year.
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A number of analysts have recently issued reports on the company. Imperial Capital assumed coverage on Freshpet in a research report on Thursday, July 20th. They set an “in-line” rating and a $16.50 target price on the stock. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price (up from $14.00) on shares of Freshpet in a research report on Thursday, July 20th. Zacks Investment Research raised Freshpet from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, July 24th. Credit Suisse Group lifted their target price on Freshpet from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, June 16th. Finally, BidaskClub lowered Freshpet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.36.
A number of hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Freshpet by 1.4% in the second quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock valued at $122,000 after buying an additional 103 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Freshpet during the first quarter valued at $122,000. Voya Investment Management LLC purchased a new stake in shares of Freshpet during the second quarter valued at $188,000. American International Group Inc. boosted its stake in shares of Freshpet by 7.1% in the first quarter. American International Group Inc. now owns 13,762 shares of the company’s stock valued at $151,000 after buying an additional 917 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Freshpet during the first quarter valued at $155,000. 63.86% of the stock is currently owned by hedge funds and other institutional investors.
Freshpet Company Profile
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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