Freshpet’s (FRPT) “Hold” Rating Reiterated at Oppenheimer
Several other brokerages have also issued reports on FRPT. Zacks Investment Research lowered Freshpet from a hold rating to a sell rating in a research note on Wednesday, November 8th. Robert W. Baird set a $20.00 price target on Freshpet and gave the company a buy rating in a research note on Sunday, October 15th. BidaskClub lowered Freshpet from a buy rating to a hold rating in a research note on Friday, August 4th. SunTrust Banks upped their price objective on Freshpet from $15.00 to $20.00 and gave the company a buy rating in a research note on Tuesday, August 8th. Finally, Susquehanna Bancshares initiated coverage on Freshpet in a research note on Monday, October 2nd. They issued a neutral rating and a $15.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $18.36.
Freshpet (NASDAQ:FRPT) opened at $18.95 on Friday. Freshpet has a 12 month low of $8.95 and a 12 month high of $19.30.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Freshpet had a negative return on equity of 4.19% and a negative net margin of 3.04%. The firm had revenue of $41.20 million for the quarter, compared to analyst estimates of $41.19 million. During the same period in the previous year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. analysts forecast that Freshpet will post -0.11 EPS for the current year.
In other news, insider Scott James Morris sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $17.26, for a total value of $345,200.00. Following the transaction, the insider now directly owns 212,307 shares of the company’s stock, valued at approximately $3,664,418.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen Macchiaverna sold 4,946 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $17.34, for a total value of $85,763.64. Following the completion of the transaction, the vice president now directly owns 77,884 shares in the company, valued at $1,350,508.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,319 shares of company stock worth $1,150,255. Corporate insiders own 6.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of Freshpet in the 3rd quarter worth approximately $678,000. Uniplan Investment Counsel Inc. acquired a new position in shares of Freshpet in the 3rd quarter worth approximately $2,591,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Freshpet by 43.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 99,125 shares of the company’s stock worth $1,552,000 after acquiring an additional 30,189 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Freshpet by 28.1% in the 3rd quarter. Wells Fargo & Company MN now owns 177,505 shares of the company’s stock worth $2,778,000 after acquiring an additional 38,915 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Freshpet by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,062,292 shares of the company’s stock worth $16,573,000 after acquiring an additional 73,182 shares in the last quarter. 69.77% of the stock is currently owned by institutional investors and hedge funds.
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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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