JPMorgan Chase & Co. cut its stake in Freshpet Inc. (NASDAQ:FRPT) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,396,638 shares of the company’s stock after selling 28,204 shares during the period. JPMorgan Chase & Co. owned approximately 4.39% of Freshpet worth $13,032,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Wrapmanager Inc. increased its position in Freshpet by 21.1% in the first quarter. Wrapmanager Inc. now owns 17,209 shares of the company’s stock worth $126,000 after buying an additional 3,000 shares in the last quarter. Franklin Resources Inc. increased its position in Freshpet by 361.2% in the first quarter. Franklin Resources Inc. now owns 2,166,760 shares of the company’s stock worth $15,882,000 after buying an additional 1,696,958 shares in the last quarter. Geode Capital Management LLC increased its position in Freshpet by 3.6% in the first quarter. Geode Capital Management LLC now owns 121,710 shares of the company’s stock worth $892,000 after buying an additional 4,177 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Freshpet during the first quarter worth approximately $671,000. Finally, Bank of New York Mellon Corp increased its position in Freshpet by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 139,511 shares of the company’s stock worth $1,302,000 after buying an additional 19,388 shares in the last quarter. Institutional investors and hedge funds own 66.93% of the company’s stock.
Freshpet Inc. (NASDAQ:FRPT) traded down 1.26% during mid-day trading on Friday, reaching $8.65. The company’s stock had a trading volume of 291,806 shares. Freshpet Inc. has a 12-month low of $5.60 and a 12-month high of $11.81. The firm’s 50 day moving average price is $9.90 and its 200 day moving average price is $9.08. The stock’s market cap is $275.07 million.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.07. The business earned $33 million during the quarter, compared to analysts’ expectations of $32.92 million. Freshpet had a negative net margin of 3.12% and a negative return on equity of 3.80%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. On average, equities analysts predict that Freshpet Inc. will post ($0.12) earnings per share for the current year.
FRPT has been the subject of a number of research reports. Robert W. Baird reiterated an “outperform” rating and set a $10.00 target price on shares of Freshpet in a research report on Monday, August 8th. Zacks Investment Research downgraded Freshpet from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. TheStreet downgraded Freshpet from a “hold” rating to a “sell” rating in a research report on Thursday, August 18th. Wedbush downgraded Freshpet from an “outperform” rating to a “neutral” rating and increased their target price for the company from $10.00 to $11.00 in a research report on Monday, August 15th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $10.00 target price (up from $9.00) on shares of Freshpet in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $10.25.
In related news, VP Mary Kathryn Winstanley sold 7,920 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $10.01, for a total transaction of $79,279.20. Following the completion of the sale, the vice president now directly owns 24,404 shares in the company, valued at $244,284.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William B. Cyr purchased 50,382 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average price of $9.89 per share, with a total value of $498,277.98. Following the completion of the transaction, the chief executive officer now directly owns 27,919 shares of the company’s stock, valued at approximately $276,118.91. The disclosure for this purchase can be found here. 8.20% of the stock is owned by insiders.
Freshpet Company Profile
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 offers products consisting of dog food, cat food, and dog and cat treats.
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