Franklin Resources Inc. lessened its holdings in Freshpet (NASDAQ:FRPT) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,708,909 shares of the company’s stock after selling 98,400 shares during the period. Franklin Resources Inc. owned about 4.90% of Freshpet worth $32,384,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the business. Voya Investment Management LLC acquired a new position in Freshpet in the second quarter valued at approximately $188,000. State Street Corp lifted its holdings in Freshpet by 18.1% in the second quarter. State Street Corp now owns 385,641 shares of the company’s stock valued at $6,401,000 after acquiring an additional 58,972 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Freshpet by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock valued at $343,000 after acquiring an additional 1,144 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Freshpet by 70.2% during the third quarter. New York State Common Retirement Fund now owns 90,079 shares of the company’s stock worth $1,410,000 after purchasing an additional 37,139 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Freshpet by 4.3% during the third quarter. Bank of New York Mellon Corp now owns 625,759 shares of the company’s stock worth $9,793,000 after purchasing an additional 25,805 shares in the last quarter. Institutional investors own 73.44% of the company’s stock.
Shares of FRPT traded down $0.20 during mid-day trading on Thursday, hitting $18.00. 104,386 shares of the company’s stock were exchanged, compared to its average volume of 228,058. Freshpet has a fifty-two week low of $11.00 and a fifty-two week high of $20.85. The company has a market capitalization of $636.01, a price-to-earnings ratio of -150.83 and a beta of 1.69.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, March 5th. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.03). The firm had revenue of $40.70 million during the quarter, compared to analyst estimates of $41.14 million. Freshpet had a negative net margin of 2.73% and a negative return on equity of 3.85%. Freshpet’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. sell-side analysts forecast that Freshpet will post -0.01 earnings per share for the current fiscal year.
FRPT has been the topic of a number of research reports. BidaskClub cut Freshpet from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Zacks Investment Research cut Freshpet from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. SunTrust Banks reiterated a “buy” rating and issued a $23.00 price objective on shares of Freshpet in a research note on Tuesday, March 6th. ValuEngine raised Freshpet from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Credit Suisse Group increased their target price on Freshpet from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Freshpet currently has an average rating of “Hold” and a consensus price target of $19.71.
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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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