Arrowstreet Capital Limited Partnership cut its holdings in shares of Freshpet Inc (NASDAQ:FRPT) by 19.1% during the fourth quarter, Holdings Channel reports. The fund owned 45,200 shares of the company’s stock after selling 10,700 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Freshpet were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Freshpet by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,095,224 shares of the company’s stock valued at $18,181,000 after purchasing an additional 37,762 shares during the period. Voya Investment Management LLC bought a new stake in Freshpet in the 2nd quarter valued at $188,000. State Street Corp boosted its stake in Freshpet by 18.1% in the 2nd quarter. State Street Corp now owns 385,641 shares of the company’s stock valued at $6,401,000 after purchasing an additional 58,972 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Freshpet by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock valued at $343,000 after purchasing an additional 1,144 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Freshpet by 70.2% in the 3rd quarter. New York State Common Retirement Fund now owns 90,079 shares of the company’s stock valued at $1,410,000 after purchasing an additional 37,139 shares during the period. 73.96% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on FRPT. BidaskClub downgraded Freshpet from a “buy” rating to a “hold” rating in a research note on Thursday, December 28th. Zacks Investment Research downgraded Freshpet from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Stifel Nicolaus restated a “buy” rating on shares of Freshpet in a research note on Friday, December 15th. Imperial Capital restated an “in-line” rating and issued a $18.00 price target (up from $16.50) on shares of Freshpet in a research note on Friday. Finally, Robert W. Baird restated a “buy” rating and issued a $22.00 price target on shares of Freshpet in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.71.
Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, March 5th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $40.70 million for the quarter, compared to the consensus estimate of $41.14 million. Freshpet had a negative net margin of 2.73% and a negative return on equity of 3.85%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. equities analysts expect that Freshpet Inc will post -0.01 EPS for the current year.
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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