First Trust Advisors LP Sells 20,218 Shares of Freshpet Inc (NASDAQ:FRPT)

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First Trust Advisors LP cut its stake in shares of Freshpet Inc (NASDAQ:FRPT) by 15.4% in the first quarter, HoldingsChannel.com reports. The fund owned 111,267 shares of the company’s stock after selling 20,218 shares during the period. First Trust Advisors LP’s holdings in Freshpet were worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Freshpet by 1.5% in the 1st quarter. JPMorgan Chase & Co. now owns 993,411 shares of the company’s stock worth $42,012,000 after purchasing an additional 14,796 shares during the period. Victory Capital Management Inc. boosted its stake in Freshpet by 5.0% in the 1st quarter. Victory Capital Management Inc. now owns 925,062 shares of the company’s stock worth $39,121,000 after purchasing an additional 43,950 shares during the period. Wasatch Advisors Inc. boosted its stake in Freshpet by 11.2% in the 1st quarter. Wasatch Advisors Inc. now owns 649,955 shares of the company’s stock worth $27,487,000 after purchasing an additional 65,505 shares during the period. Northern Trust Corp boosted its stake in Freshpet by 0.4% in the 4th quarter. Northern Trust Corp now owns 421,106 shares of the company’s stock worth $13,542,000 after purchasing an additional 1,862 shares during the period. Finally, FMR LLC boosted its stake in Freshpet by 110,208.5% in the 4th quarter. FMR LLC now owns 298,936 shares of the company’s stock worth $9,614,000 after purchasing an additional 298,665 shares during the period. Institutional investors own 86.75% of the company’s stock.

NASDAQ FRPT opened at $48.50 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.71 billion, a PE ratio of -323.33 and a beta of 1.22. Freshpet Inc has a one year low of $23.75 and a one year high of $49.41.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, May 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $54.80 million for the quarter, compared to the consensus estimate of $54.28 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 4.46%. The firm’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.10) earnings per share. On average, sell-side analysts expect that Freshpet Inc will post 0.08 EPS for the current year.

In other Freshpet news, CFO Richard A. Kassar sold 55,509 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $47.78, for a total value of $2,652,220.02. Following the sale, the chief financial officer now owns 184,463 shares in the company, valued at $8,813,642.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott James Morris sold 49,766 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $47.79, for a total value of $2,378,317.14. Following the completion of the sale, the insider now owns 170,232 shares in the company, valued at approximately $8,135,387.28. The disclosure for this sale can be found here. Insiders have sold a total of 110,275 shares of company stock valued at $5,268,037 over the last quarter. Corporate insiders own 5.10% of the company’s stock.

Several research analysts have weighed in on FRPT shares. Imperial Capital restated an “in-line” rating and issued a $40.00 price target (up from $35.00) on shares of Freshpet in a research note on Monday, March 4th. TheStreet upgraded Freshpet from a “c+” rating to a “b” rating in a research note on Tuesday, February 26th. BidaskClub downgraded Freshpet from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research downgraded Freshpet from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $40.00.

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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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Want to see what other hedge funds are holding FRPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshpet Inc (NASDAQ:FRPT).

Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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