Parametric Portfolio Associates LLC lessened its stake in Freshpet, Inc. (NASDAQ:FRPT) by 32.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,751 shares of the company’s stock after selling 79,104 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.52% of Freshpet worth $2,768,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in FRPT. Emerald Mutual Fund Advisers Trust raised its stake in shares of Freshpet by 60.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 421,819 shares of the company’s stock valued at $7,002,000 after acquiring an additional 159,040 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Freshpet in the first quarter valued at $183,000. Investment House LLC purchased a new stake in shares of Freshpet in the second quarter valued at $1,244,000. Bank of America Corp DE raised its stake in shares of Freshpet by 4.9% in the first quarter. Bank of America Corp DE now owns 295,409 shares of the company’s stock valued at $3,250,000 after acquiring an additional 13,852 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Freshpet by 1.4% in the second quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock worth $122,000 after purchasing an additional 103 shares during the last quarter. 68.29% of the stock is currently owned by institutional investors.
In related news, VP Stephen Macchiaverna sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $15.81, for a total value of $94,860.00. Following the completion of the transaction, the vice president now directly owns 78,938 shares of the company’s stock, valued at $1,248,009.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard A. Kassar sold 23,239 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $16.00, for a total value of $371,824.00. Following the completion of the transaction, the chief financial officer now directly owns 208,971 shares of the company’s stock, valued at $3,343,536. The disclosure for this sale can be found here. Insiders have sold 31,777 shares of company stock worth $506,872 over the last quarter. Insiders own 6.80% of the company’s stock.
A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. SunTrust Banks, Inc. raised their price target on shares of Freshpet from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Imperial Capital initiated coverage on shares of Freshpet in a report on Thursday, July 20th. They issued an “in-line” rating and a $16.50 price target on the stock. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price objective (up from $14.00) on shares of Freshpet in a research report on Thursday, July 20th. Finally, BidaskClub lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Freshpet has a consensus rating of “Hold” and a consensus price target of $18.36.
Shares of Freshpet, Inc. (FRPT) opened at $17.12 on Tuesday. Freshpet, Inc. has a fifty-two week low of $8.60 and a fifty-two week high of $18.25.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $41.20 million for the quarter, compared to analyst estimates of $41.19 million. Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. Freshpet’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. research analysts forecast that Freshpet, Inc. will post -0.11 earnings per share for the current fiscal year.
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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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