Freshpet, Inc. (FRPT) Shares Sold by Wrapmanager Inc.
Wrapmanager Inc. decreased its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 11.4% during the second quarter, Holdings Channel reports. The institutional investor owned 16,900 shares of the company’s stock after selling 2,166 shares during the period. Wrapmanager Inc.’s holdings in Freshpet were worth $281,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC acquired a new stake in Freshpet during the second quarter valued at approximately $12,863,000. Bank of New York Mellon Corp raised its stake in Freshpet by 306.2% in the first quarter. Bank of New York Mellon Corp now owns 531,700 shares of the company’s stock valued at $5,849,000 after buying an additional 400,805 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Freshpet during the first quarter valued at approximately $2,891,000. Russell Investments Group Ltd. raised its stake in Freshpet by 130.4% in the second quarter. Russell Investments Group Ltd. now owns 369,545 shares of the company’s stock valued at $6,135,000 after buying an additional 209,186 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Freshpet by 9.9% in the first quarter. Alliancebernstein L.P. now owns 2,303,739 shares of the company’s stock valued at $25,341,000 after buying an additional 208,052 shares during the last quarter. Institutional investors own 63.86% of the company’s stock.
Shares of Freshpet, Inc. (NASDAQ FRPT) opened at 15.80 on Wednesday. The company’s market cap is $502.44 million. The company’s 50-day moving average is $16.49 and its 200 day moving average is $13.50. Freshpet, Inc. has a 1-year low of $7.60 and a 1-year high of $18.25.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $39.97 million for the quarter, compared to analysts’ expectations of $38.09 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 3.44%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the business posted ($0.10) EPS. Equities analysts anticipate that Freshpet, Inc. will post ($0.10) EPS for the current year.
Several research firms recently commented on FRPT. BidaskClub lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Saturday. SunTrust Banks, Inc. boosted their price objective on shares of Freshpet from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Credit Suisse Group boosted their price objective on shares of Freshpet from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, May 15th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective (up previously from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Freshpet currently has a consensus rating of “Hold” and an average target price of $16.36.
In other Freshpet news, CFO Richard A. Kassar sold 15,125 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $15.26, for a total transaction of $230,807.50. Following the transaction, the chief financial officer now owns 215,119 shares of the company’s stock, valued at approximately $3,282,715.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott James Morris sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $16.73, for a total transaction of $83,650.00. Following the transaction, the insider now directly owns 207,307 shares in the company, valued at approximately $3,468,246.11. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
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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