Keybank National Association OH decreased its stake in Freshpet Inc (NASDAQ:FRPT) by 33.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,189 shares of the company’s stock after selling 15,652 shares during the period. Keybank National Association OH owned 0.09% of Freshpet worth $856,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in FRPT. Hood River Capital Management LLC bought a new position in shares of Freshpet in the 2nd quarter valued at about $8,110,000. State of New Jersey Common Pension Fund D bought a new position in shares of Freshpet in the 2nd quarter valued at about $5,765,000. Public Employees Retirement Association of Colorado grew its holdings in shares of Freshpet by 40.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 702,128 shares of the company’s stock valued at $19,273,000 after acquiring an additional 202,128 shares in the last quarter. Apertura Capital LLC grew its holdings in shares of Freshpet by 87.3% in the 1st quarter. Apertura Capital LLC now owns 412,100 shares of the company’s stock valued at $6,779,000 after acquiring an additional 192,100 shares in the last quarter. Finally, EAM Investors LLC bought a new position in shares of Freshpet in the 2nd quarter valued at about $3,602,000. Institutional investors own 74.96% of the company’s stock.
In related news, insider Scott James Morris sold 25,000 shares of Freshpet stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $34.82, for a total transaction of $870,500.00. Following the completion of the transaction, the insider now owns 166,214 shares in the company, valued at $5,787,571.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen Macchiaverna sold 6,000 shares of Freshpet stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $35.40, for a total value of $212,400.00. Following the transaction, the vice president now owns 78,938 shares of the company’s stock, valued at approximately $2,794,405.20. The disclosure for this sale can be found here. Insiders have sold 123,062 shares of company stock valued at $3,930,124 in the last quarter. 5.10% of the stock is currently owned by corporate insiders.
Freshpet stock opened at $35.80 on Thursday. Freshpet Inc has a 52 week low of $14.10 and a 52 week high of $36.60.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Freshpet had a negative return on equity of 5.05% and a negative net margin of 3.33%. The business had revenue of $47.60 million for the quarter, compared to the consensus estimate of $46.08 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. equities analysts predict that Freshpet Inc will post -0.05 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on FRPT shares. Zacks Investment Research upgraded Freshpet from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, July 18th. BidaskClub upgraded Freshpet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 20th. ValuEngine upgraded Freshpet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Susquehanna Bancshares set a $17.00 price objective on Freshpet and gave the company a “hold” rating in a report on Tuesday, May 8th. Finally, Robert W. Baird raised their price objective on Freshpet from $27.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, July 30th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Freshpet currently has an average rating of “Buy” and a consensus target price of $27.14.
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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