Nationwide Fund Advisors cut its stake in Freshpet, Inc. (NASDAQ:FRPT) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,960 shares of the company’s stock after selling 1,338 shares during the period. Nationwide Fund Advisors’ holdings in Freshpet were worth $143,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Teachers Advisors LLC raised its stake in Freshpet by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 34,476 shares of the company’s stock valued at $350,000 after buying an additional 396 shares during the last quarter. State Street Corp raised its stake in Freshpet by 7.8% in the fourth quarter. State Street Corp now owns 323,264 shares of the company’s stock valued at $3,281,000 after buying an additional 23,391 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Freshpet during the fourth quarter valued at about $1,563,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.
Freshpet, Inc. (FRPT) traded up 3.12% on Tuesday, hitting $16.55. 754,539 shares of the company traded hands. The firm’s market capitalization is $526.29 million. Freshpet, Inc. has a 1-year low of $7.60 and a 1-year high of $18.25. The firm’s 50 day moving average price is $16.45 and its 200 day moving average price is $13.13.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.01. Freshpet had a negative return on equity of 4.06% and a negative net margin of 3.14%. The business had revenue of $39.97 million during the quarter, compared to analysts’ expectations of $38.09 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities research analysts predict that Freshpet, Inc. will post ($0.07) EPS for the current fiscal year.
Several analysts have recently issued reports on the stock. Imperial Capital began coverage on shares of Freshpet in a research note on Thursday, July 20th. They issued an “in-line” rating and a $16.50 target price for the company. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target (up from $14.00) on shares of Freshpet in a report on Thursday, July 20th. Zacks Investment Research raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, July 24th. Credit Suisse Group upped their price objective on shares of Freshpet from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, June 16th. Finally, BidaskClub downgraded shares of Freshpet from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.69.
In related news, insider Scott James Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $16.73, for a total value of $83,650.00. Following the transaction, the insider now directly owns 207,307 shares of the company’s stock, valued at approximately $3,468,246.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard A. Kassar sold 15,125 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $15.26, for a total value of $230,807.50. Following the sale, the chief financial officer now directly owns 215,119 shares in the company, valued at $3,282,715.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,125 shares of company stock worth $526,758. 8.20% of the stock is owned by insiders.
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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