Freshpet (FRPT) Sets New 1-Year High at $24.90

Freshpet Inc (NASDAQ:FRPT) reached a new 52-week high on Friday . The stock traded as high as $24.90 and last traded at $24.80, with a volume of 4842 shares changing hands. The stock had previously closed at $24.35.

Several research firms recently weighed in on FRPT. BidaskClub raised Freshpet from a “sell” rating to a “hold” rating in a report on Friday, May 18th. ValuEngine downgraded Freshpet from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Imperial Capital reissued an “in-line” rating and set a $18.00 price objective (up previously from $16.50) on shares of Freshpet in a report on Friday, March 9th. 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, SunTrust Banks reissued a “buy” rating and set a $23.00 price objective on shares of Freshpet in a report on Tuesday, March 6th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Freshpet presently has a consensus rating of “Buy” and an average target price of $20.00.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The company had revenue of $43.20 million for the quarter, compared to the consensus estimate of $42.06 million. Freshpet had a negative return on equity of 4.35% and a negative net margin of 2.97%. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) earnings per share. equities research analysts expect that Freshpet Inc will post -0.03 EPS for the current fiscal year.



In related news, COO Scott James Morris sold 10,000 shares of the firm’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $20.80, for a total transaction of $208,000.00. Following the completion of the transaction, the chief operating officer now directly owns 207,798 shares of the company’s stock, valued at approximately $4,322,198.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Stephen Macchiaverna sold 4,946 shares of the firm’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $20.50, for a total value of $101,393.00. Following the transaction, the vice president now directly owns 73,884 shares of the company’s stock, valued at $1,514,622. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,474 shares of company stock valued at $1,073,795. 6.80% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. FDx Advisors Inc. raised its position in Freshpet by 16.2% during the 1st quarter. FDx Advisors Inc. now owns 19,464 shares of the company’s stock worth $320,000 after purchasing an additional 2,709 shares during the last quarter. Wrapmanager Inc. raised its position in shares of Freshpet by 24.3% in the 1st quarter. Wrapmanager Inc. now owns 14,940 shares of the company’s stock worth $246,000 after acquiring an additional 2,917 shares in the last quarter. Uniplan Investment Counsel Inc. raised its position in shares of Freshpet by 1.9% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 181,117 shares of the company’s stock worth $2,979,000 after acquiring an additional 3,381 shares in the last quarter. BlackRock Inc. raised its position in shares of Freshpet by 0.3% in the 1st quarter. BlackRock Inc. now owns 1,526,129 shares of the company’s stock worth $25,105,000 after acquiring an additional 4,854 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Freshpet by 26.4% in the 1st quarter. Royal Bank of Canada now owns 24,867 shares of the company’s stock worth $409,000 after acquiring an additional 5,199 shares in the last quarter. 75.01% of the stock is owned by institutional investors and hedge funds.

Freshpet Company Profile

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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