Strs Ohio raised its holdings in Freshpet Inc (NASDAQ:FRPT) by 102.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,200 shares of the company’s stock after acquiring an additional 7,700 shares during the period. Strs Ohio’s holdings in Freshpet were worth $1,271,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Advisor Group Holdings Inc. acquired a new stake in shares of Freshpet in the 1st quarter valued at approximately $1,060,000. BNP Paribas Arbitrage SA increased its position in Freshpet by 533.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 32,473 shares of the company’s stock worth $2,074,000 after purchasing an additional 27,347 shares in the last quarter. Citigroup Inc. lifted its stake in Freshpet by 31.4% in the 1st quarter. Citigroup Inc. now owns 10,138 shares of the company’s stock valued at $648,000 after purchasing an additional 2,420 shares during the last quarter. Wells Fargo & Company MN boosted its position in Freshpet by 21.4% in the first quarter. Wells Fargo & Company MN now owns 603,698 shares of the company’s stock valued at $38,558,000 after buying an additional 106,286 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Freshpet by 2.5% during the first quarter. The Manufacturers Life Insurance Company now owns 49,991 shares of the company’s stock worth $3,193,000 after buying an additional 1,225 shares during the last quarter. 94.24% of the stock is owned by hedge funds and other institutional investors.
Freshpet stock opened at $96.05 on Friday. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -1,600.57 and a beta of 0.80. Freshpet Inc has a 12 month low of $35.95 and a 12 month high of $96.32. The company has a current ratio of 5.21, a quick ratio of 4.83 and a debt-to-equity ratio of 0.02. The business’s 50 day simple moving average is $86.53 and its 200 day simple moving average is $72.84.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The firm had revenue of $70.10 million during the quarter, compared to analysts’ expectations of $71.50 million. Freshpet had a negative return on equity of 0.79% and a negative net margin of 0.57%. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. As a group, equities research analysts forecast that Freshpet Inc will post 0.18 earnings per share for the current fiscal year.
In other news, Director Robert C. King sold 12,333 shares of Freshpet stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $72.00, for a total transaction of $887,976.00. Following the completion of the sale, the director now owns 12,751 shares in the company, valued at approximately $918,072. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Stephen Macchiaverna sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.32, for a total transaction of $81,677.68. Following the completion of the transaction, the vice president now directly owns 84,928 shares of the company’s stock, valued at approximately $6,311,848.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,798 shares of company stock worth $5,525,341. Insiders own 4.90% of the company’s stock.
Several equities research analysts recently weighed in on FRPT shares. ValuEngine downgraded Freshpet from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Bank of America began coverage on Freshpet in a research report on Tuesday, April 21st. They issued a “neutral” rating and a $75.00 target price for the company. Citigroup cut Freshpet from a “neutral” rating to a “sell” rating and set a $78.00 price target on the stock. in a report on Friday, June 26th. SunTrust Banks upped their price objective on Freshpet from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, May 5th. Finally, Credit Suisse Group lifted their target price on shares of Freshpet from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Freshpet currently has a consensus rating of “Buy” and a consensus target price of $79.55.
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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