Freshpet Inc (FRPT) Expected to Post Earnings of -$0.09 Per Share
Wall Street analysts expect Freshpet Inc (NASDAQ:FRPT) to announce earnings per share (EPS) of ($0.09) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Freshpet’s earnings. The highest EPS estimate is ($0.06) and the lowest is ($0.13). Freshpet reported earnings per share of ($0.10) during the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The business is scheduled to issue its next quarterly earnings results on Monday, May 6th.
On average, analysts expect that Freshpet will report full-year earnings of $0.07 per share for the current fiscal year, with EPS estimates ranging from ($0.02) to $0.17. For the next fiscal year, analysts anticipate that the company will post earnings of $0.57 per share, with EPS estimates ranging from $0.39 to $0.78. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Freshpet.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Tuesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The firm had revenue of $51.64 million for the quarter, compared to analyst estimates of $50.22 million. Freshpet had a negative net margin of 2.77% and a negative return on equity of 4.60%. The company’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 earnings per share.
In related news, major shareholder Associates Spc Midocean sold 4,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $38.57, for a total value of $154,280,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott James Morris sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the insider now owns 181,298 shares in the company, valued at $7,251,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,075,000 shares of company stock valued at $157,280,000. Company insiders own 5.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its holdings in shares of Freshpet by 7.4% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 10,874 shares of the company’s stock worth $350,000 after purchasing an additional 753 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Freshpet by 4.5% in the 4th quarter. WINTON GROUP Ltd now owns 18,369 shares of the company’s stock worth $591,000 after purchasing an additional 789 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Freshpet by 14.2% in the 4th quarter. Stephens Inc. AR now owns 7,531 shares of the company’s stock worth $242,000 after purchasing an additional 938 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Freshpet by 28.2% in the 4th quarter. Legal & General Group Plc now owns 5,209 shares of the company’s stock worth $167,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Freshpet by 0.4% in the 4th quarter. Northern Trust Corp now owns 421,106 shares of the company’s stock worth $13,542,000 after purchasing an additional 1,862 shares in the last quarter. Institutional investors and hedge funds own 75.45% of the company’s stock.
Shares of NASDAQ:FRPT traded up $0.95 during trading on Thursday, reaching $40.96. The company had a trading volume of 219,300 shares, compared to its average volume of 288,404. The firm has a market cap of $1.46 billion, a P/E ratio of -273.07 and a beta of 1.35. Freshpet has a twelve month low of $15.67 and a twelve month high of $42.09.
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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