JPMorgan Chase & Co. Sells 387,008 Shares of Freshpet, Inc. (FRPT)
JPMorgan Chase & Co. reduced its stake in Freshpet, Inc. (NASDAQ:FRPT) by 28.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 989,110 shares of the company’s stock after selling 387,008 shares during the period. JPMorgan Chase & Co. owned approximately 3.11% of Freshpet worth $16,419,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Alliancebernstein L.P. boosted 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 valued at $25,341,000 after buying an additional 208,052 shares during the period. Vanguard Group Inc. boosted 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 valued at $11,631,000 after buying an additional 41,545 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Freshpet in the second quarter valued at approximately $12,863,000. Emerald Advisers Inc. PA boosted 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 valued at $11,230,000 after buying an additional 100,918 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Freshpet by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 599,954 shares of the company’s stock valued at $9,960,000 after buying an additional 68,254 shares during the period. Institutional investors and hedge funds own 66.81% of the company’s stock.
Several equities research analysts recently issued reports on FRPT shares. 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 note on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target (up from $14.00) on shares of Freshpet in a research note on Thursday, July 20th. SunTrust Banks, Inc. upped their target price on Freshpet from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. BidaskClub cut Freshpet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, ValuEngine upgraded Freshpet from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Freshpet currently has an average rating of “Hold” and an average price target of $16.36.
Freshpet, Inc. (NASDAQ:FRPT) opened at 14.50 on Friday. The company’s market capitalization is $461.10 million. Freshpet, Inc. has a 52 week low of $7.60 and a 52 week high of $18.25. The stock has a 50 day moving average price of $15.93 and a 200-day moving average price of $14.33.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.09 million. Freshpet had a negative return on equity of 3.44% and a negative net margin of 2.57%. Freshpet’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) EPS. On average, equities analysts predict that Freshpet, Inc. will post ($0.09) earnings per share for the current fiscal year.
In other 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 transaction, the vice president now owns 78,938 shares of the company’s stock, valued at $1,248,009.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard A. Kassar sold 8,977 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $16.00, for a total value of $143,632.00. Following the completion of the transaction, the chief financial officer now directly owns 208,971 shares in the company, valued at approximately $3,343,536. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,954 shares of company stock worth $653,704. Company insiders own 6.80% 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’s products consist of dog food, cat food, and dog and cat treats.
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