Stifel Nicolaus Reaffirms Buy Rating for Freshpet (FRPT)
FRPT has been the topic of several other reports. Oppenheimer reiterated a hold rating on shares of Freshpet in a report on Friday, December 1st. TheStreet upgraded shares of Freshpet from a d+ rating to a c- rating in a report on Thursday, November 30th. Robert W. Baird set a $20.00 price objective on shares of Freshpet and gave the stock a buy rating in a report on Sunday, October 15th. BidaskClub lowered shares of Freshpet from a buy rating to a hold rating in a report on Friday. Finally, Credit Suisse Group raised their price objective on shares of Freshpet from $15.00 to $17.00 and gave the stock a neutral rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $18.36.
Shares of Freshpet (NASDAQ:FRPT) opened at $19.60 on Friday. Freshpet has a twelve month low of $9.25 and a twelve month high of $19.65.
In related news, insider Scott James Morris sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $18.71, for a total transaction of $46,775.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard A. Kassar sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $18.93, for a total transaction of $189,300.00. Following the sale, the chief financial officer now owns 209,994 shares in the company, valued at $3,975,186.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,218 shares of company stock worth $1,211,499. 6.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new position in Freshpet in the third quarter valued at $678,000. Uniplan Investment Counsel Inc. bought a new position in Freshpet in the third quarter valued at $2,591,000. Schwab Charles Investment Management Inc. grew its position in Freshpet by 43.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 99,125 shares of the company’s stock valued at $1,552,000 after purchasing an additional 30,189 shares in the last quarter. Wells Fargo & Company MN grew its position in Freshpet by 28.1% in the third quarter. Wells Fargo & Company MN now owns 177,505 shares of the company’s stock valued at $2,778,000 after purchasing an additional 38,915 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Freshpet by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 1,062,292 shares of the company’s stock valued at $16,573,000 after purchasing an additional 73,182 shares in the last quarter. 69.77% of the stock is owned by institutional investors and hedge funds.
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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