California State Teachers Retirement System Sells 600 Shares of Freshpet Inc (FRPT)
California State Teachers Retirement System trimmed its stake in Freshpet Inc (NASDAQ:FRPT) by 1.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 43,445 shares of the company’s stock after selling 600 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Freshpet worth $721,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in Freshpet in the second quarter valued at $498,000. Bank of America Corp DE lifted its stake in Freshpet by 4.9% in the first quarter. Bank of America Corp DE now owns 295,409 shares of the company’s stock valued at $3,250,000 after buying an additional 13,852 shares during the last quarter. Bank of Montreal Can lifted its stake in Freshpet by 1.4% in the second quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock valued at $122,000 after buying an additional 103 shares during the last quarter. Teachers Advisors LLC lifted its stake in Freshpet by 21.3% in the second quarter. Teachers Advisors LLC now owns 44,712 shares of the company’s stock valued at $742,000 after buying an additional 7,855 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Freshpet by 130.4% in the second quarter. Russell Investments Group Ltd. now owns 369,545 shares of the company’s stock valued at $6,135,000 after buying an additional 209,186 shares during the last quarter. Institutional investors own 69.65% of the company’s stock.
Shares of Freshpet Inc (FRPT) opened at $18.75 on Friday. Freshpet Inc has a one year low of $8.90 and a one year high of $19.10.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Freshpet had a negative net margin of 3.04% and a negative return on equity of 4.19%. The business had revenue of $41.20 million for the quarter, compared to analysts’ expectations of $41.19 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. equities analysts expect that Freshpet Inc will post -0.11 earnings per share for the current year.
In related news, insider Scott James Morris sold 2,101 shares of Freshpet stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $15.80, for a total transaction of $33,195.80. Following the sale, the insider now directly owns 204,408 shares in the company, valued at $3,229,646.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard A. Kassar sold 15,125 shares of Freshpet stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $17.92, for a total transaction of $271,040.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,319 shares of company stock worth $1,150,255. Company insiders own 6.80% of the company’s stock.
FRPT has been the topic of a number of recent research reports. BidaskClub cut Freshpet from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Susquehanna Bancshares initiated coverage on Freshpet in a research note on Monday, October 2nd. They issued a “neutral” rating and a $15.00 target price on the stock. Oppenheimer reiterated a “hold” rating on shares of Freshpet in a research note on Friday. Finally, Robert W. Baird set a $20.00 price objective on shares of Freshpet and gave the company a “buy” rating in a research note on Sunday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Freshpet presently has an average rating of “Hold” and an average price target of $18.36.
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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