Freshpet Inc. (FRPT) Shares Down 3%
Freshpet Inc. (NASDAQ:FRPT) shares were down 3% during mid-day trading on Wednesday . The company traded as low as $9.45 and last traded at $9.48, with a volume of 76,960 shares trading hands. The stock had previously closed at $9.77.
A number of research analysts have issued reports on FRPT shares. Stifel Nicolaus restated a “buy” rating and issued a $10.00 target price (up from $9.00) on shares of Freshpet in a report on Thursday, March 10th. Wedbush restated an “outperform” rating and issued a $10.00 target price (down from $11.00) on shares of Freshpet in a report on Thursday, March 10th. Goldman Sachs Group Inc. lowered shares of Freshpet from a “buy” rating to a “neutral” rating and reduced their target price for the company from $13.00 to $9.00 in a report on Thursday, March 10th. Zacks Investment Research upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a report on Thursday, March 10th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Freshpet in a report on Thursday, March 17th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Freshpet has a consensus rating of “Buy” and an average price target of $10.67.
The stock’s 50 day moving average price is $9.36 and its 200-day moving average price is $7.91. The stock’s market cap is $301.78 million.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The business earned $31.50 million during the quarter, compared to analyst estimates of $31.48 million. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. On average, equities analysts predict that Freshpet Inc. will post ($0.01) EPS for the current year.
In related news, VP Mary Kathryn Winstanley sold 7,171 shares of Freshpet stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $9.86, for a total transaction of $70,706.06. Following the completion of the sale, the vice president now directly owns 23,655 shares of the company’s stock, valued at approximately $233,238.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Stephen Macchiaverna sold 3,600 shares of Freshpet stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $9.14, for a total value of $32,904.00. Following the sale, the vice president now directly owns 76,538 shares of the company’s stock, valued at $699,557.32. The disclosure for this sale can be found here.
A number of institutional investors recently bought and sold shares of the company. Russell Frank Co bought a new position in Freshpet during the fourth quarter worth approximately $1,536,000. Tricadia Capital Management LLC raised its position in Freshpet by 81.4% in the fourth quarter. Tricadia Capital Management LLC now owns 689,477 shares of the company’s stock worth $5,854,000 after buying an additional 309,458 shares during the period. Boston Partners bought a new position in Freshpet during the fourth quarter worth approximately $3,144,000. Finally, Morgan Stanley raised its position in Freshpet by 398.7% in the fourth quarter. Morgan Stanley now owns 201,397 shares of the company’s stock worth $1,710,000 after buying an additional 161,012 shares during the period.
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.