Zacks Investment Research Upgrades Freshpet, Inc. (FRPT) to “Hold”
According to Zacks, “Freshpet Inc. is a pet food company. The company manufactures and markets natural fresh foods, refrigerated meals, and treats for dogs and cats in the United States and Canada. Freshpet provides meats- based recipes, such as chicken, beef, lamb and salmon; fruits and vegetables, such as carrots, peas and leafy green vegetables, and high-fiber grains, such as brown rice, oats and barley. It sells its products under the Freshpet, Dognation, and Dog Joy brand names. Freshpet Inc. is headquartered in Secaucus, New Jersey. “
Shares of Freshpet (NASDAQ:FRPT) opened at 10.90 on Monday. The company’s market cap is $346.62 million. The stock has a 50 day moving average of $10.77 and a 200 day moving average of $9.72. Freshpet has a 12-month low of $6.33 and a 12-month high of $12.00.
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In related news, SVP Michael Hieger sold 10,361 shares of the firm’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $9.50, for a total transaction of $98,429.50. Following the completion of the sale, the senior vice president now directly owns 9,428 shares in the company, valued at $89,566. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.20% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in FRPT. Riverbridge Partners LLC boosted its stake in Freshpet by 40.3% in the second quarter. Riverbridge Partners LLC now owns 2,552,253 shares of the company’s stock valued at $23,813,000 after buying an additional 732,575 shares during the last quarter. Broadview Advisors LLC boosted its stake in Freshpet by 0.3% in the second quarter. Broadview Advisors LLC now owns 479,178 shares of the company’s stock valued at $4,471,000 after buying an additional 1,650 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Freshpet by 77.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 59,462 shares of the company’s stock valued at $555,000 after buying an additional 25,998 shares during the last quarter. Carl Domino Inc boosted its stake in Freshpet by 33.3% in the third quarter. Carl Domino Inc now owns 24,000 shares of the company’s stock valued at $210,000 after buying an additional 6,000 shares during the last quarter. Finally, Emerald Advisers Inc. PA boosted its stake in Freshpet by 28.3% in the third quarter. Emerald Advisers Inc. PA now owns 674,325 shares of the company’s stock valued at $5,833,000 after buying an additional 148,603 shares during the last quarter. Hedge funds and other institutional investors own 63.84% of the company’s stock.
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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