US Bancorp DE reduced its stake in Freshpet Inc (NASDAQ:FRPT) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,606 shares of the company’s stock after selling 874 shares during the period. US Bancorp DE’s holdings in Freshpet were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Great West Life Assurance Co. Can bought a new stake in shares of Freshpet in the fourth quarter valued at approximately $58,000. SG Americas Securities LLC bought a new stake in Freshpet during the first quarter worth $140,000. Legal & General Group Plc lifted its stake in Freshpet by 28.2% during the fourth 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 during the last quarter. Quantamental Technologies LLC bought a new stake in Freshpet during the first quarter worth $190,000. Finally, Pathlight Investors LLC bought a new stake in Freshpet during the fourth quarter worth $202,000. Institutional investors and hedge funds own 86.75% of the company’s stock.
In other news, insider Scott James Morris sold 49,766 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $47.79, for a total value of $2,378,317.14. Following the completion of the transaction, the insider now directly owns 170,232 shares in the company, valued at approximately $8,135,387.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard A. Kassar sold 55,509 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $47.78, for a total value of $2,652,220.02. Following the completion of the transaction, the chief financial officer now owns 184,463 shares of the company’s stock, valued at $8,813,642.14. The disclosure for this sale can be found here. Insiders sold a total of 110,275 shares of company stock valued at $5,268,037 over the last quarter. 5.10% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on FRPT shares. BidaskClub upgraded Freshpet from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. TheStreet upgraded Freshpet from a “c+” rating to a “b” rating in a research note on Tuesday, February 26th. Zacks Investment Research cut Freshpet from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Imperial Capital restated an “in-line” rating and set a $40.00 target price (up from $35.00) on shares of Freshpet in a research note on Monday, March 4th. Finally, Credit Suisse Group set a $36.00 target price on Freshpet and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Freshpet presently has an average rating of “Buy” and an average price target of $40.00.
NASDAQ FRPT traded down $0.57 on Wednesday, hitting $47.93. 17,408 shares of the company’s stock were exchanged, compared to its average volume of 272,644. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 0.72. Freshpet Inc has a 52 week low of $23.75 and a 52 week high of $49.41. The stock has a market capitalization of $1.71 billion, a PE ratio of -317.67 and a beta of 1.22.
Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, May 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Freshpet had a negative return on equity of 4.46% and a negative net margin of 2.57%. The business had revenue of $54.80 million for the quarter, compared to the consensus estimate of $54.28 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis. As a group, sell-side analysts expect that Freshpet Inc will post 0.08 earnings per share for the current year.
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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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