Freshpet, Inc. (NASDAQ:FRPT) Downgraded by BidaskClub
Freshpet, Inc. (NASDAQ:FRPT) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Freshpet from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target (up from $14.00) on shares of Freshpet in a research report on Thursday, July 20th. ValuEngine upgraded Freshpet from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Imperial Capital started coverage on Freshpet in a report on Thursday, July 20th. They issued an “in-line” rating and a $16.50 price objective on the stock. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their price objective on Freshpet from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $15.07.
Shares of Freshpet (FRPT) traded down 0.61% on Friday, hitting $16.25. The company had a trading volume of 309,938 shares. The company’s market capitalization is $516.75 million. Freshpet has a 52 week low of $7.60 and a 52 week high of $18.25. The stock’s 50-day moving average is $16.45 and its 200 day moving average is $13.13.
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In other news, CFO Richard A. Kassar sold 15,125 shares of Freshpet stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $15.26, for a total value of $230,807.50. Following the sale, the chief financial officer now directly owns 215,119 shares of the company’s stock, valued at $3,282,715.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William B. Cyr purchased 7,300 shares of the stock in a transaction dated Thursday, May 18th. The stock was purchased at an average cost of $13.75 per share, for a total transaction of $100,375.00. Following the completion of the purchase, the chief executive officer now directly owns 75,532 shares of the company’s stock, valued at $1,038,565. The disclosure for this purchase can be found here. Insiders sold 45,125 shares of company stock worth $666,758 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. raised its stake in shares of Freshpet by 9.9% in the first quarter. Alliancebernstein L.P. now owns 2,303,739 shares of the company’s stock worth $25,341,000 after buying an additional 208,052 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Freshpet by 3.6% in the first quarter. JPMorgan Chase & Co. now owns 1,376,118 shares of the company’s stock worth $15,137,000 after buying an additional 48,258 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Freshpet by 4.1% in the first quarter. Vanguard Group Inc. now owns 1,057,462 shares of the company’s stock worth $11,631,000 after buying an additional 41,545 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Freshpet during the second quarter worth about $12,863,000. Finally, Emerald Advisers Inc. PA raised its stake in shares of Freshpet by 17.5% in the second quarter. Emerald Advisers Inc. PA now owns 676,504 shares of the company’s stock worth $11,230,000 after buying an additional 100,918 shares in the last quarter. 62.19% of the stock is currently owned by hedge funds and other institutional investors.
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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