Bank of New York Mellon Corp Has $1,302,000 Position in Freshpet Inc. (FRPT)
Bank of New York Mellon Corp boosted its stake in shares of Freshpet Inc. (NASDAQ:FRPT) by 16.1% during the second quarter, Holdings Channel reports. The institutional investor owned 139,511 shares of the company’s stock after buying an additional 19,388 shares during the period. Bank of New York Mellon Corp owned 0.44% of Freshpet worth $1,302,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the stock. Franklin Resources Inc. boosted 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 raised its stake 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 during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Freshpet during the first quarter worth about $671,000. Hedge funds and other institutional investors own 66.94% of the company’s stock.
Freshpet Inc. (NASDAQ:FRPT) traded up 0.81% on Wednesday, reaching $8.71. 41,020 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $9.55 and a 200-day moving average price of $9.16. The company’s market capitalization is $276.98 million. Freshpet Inc. has a 1-year low of $5.60 and a 1-year high of $11.81.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.07. The firm had revenue of $33 million for the quarter, compared to analyst estimates of $32.92 million. Freshpet had a negative return on equity of 3.80% and a negative net margin of 3.12%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. On average, equities research analysts anticipate that Freshpet Inc. will post ($0.11) earnings per share for the current year.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating in a report on Monday, August 8th. DA Davidson assumed coverage on shares of Freshpet in a report on Wednesday, October 5th. They set a “neutral” rating and a $10.00 target price for the company. Wedbush lowered shares of Freshpet from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $10.00 to $11.00 in a report on Monday, August 15th. TheStreet lowered shares of Freshpet from a “hold” rating to a “sell” rating in a report on Thursday, August 18th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $10.00 target price (up previously from $9.00) on shares of Freshpet in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.22.
In other news, VP Cathal Walsh sold 37,639 shares of Freshpet stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $10.69, for a total transaction of $402,360.91. Following the completion of the transaction, the vice president now owns 130,898 shares of the company’s stock, valued at approximately $1,399,299.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William B. Cyr purchased 50,382 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were purchased at an average cost of $9.89 per share, with a total value of $498,277.98. Following the purchase, the chief executive officer now directly owns 27,919 shares in the company, valued at $276,118.91. The disclosure for this purchase can be found here. Insiders own 8.20% of the company’s stock.
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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