US Bancorp DE reduced its stake in Freshpet Inc (NASDAQ:FRPT) by 17.5% during the second quarter, HoldingsChannel.com reports. The firm owned 21,122 shares of the company’s stock after selling 4,484 shares during the period. US Bancorp DE’s holdings in Freshpet were worth $580,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FDx Advisors Inc. raised its holdings in shares of Freshpet by 16.2% during the first quarter. FDx Advisors Inc. now owns 19,464 shares of the company’s stock valued at $320,000 after acquiring an additional 2,709 shares during the period. Trexquant Investment LP acquired a new position in Freshpet in the 1st quarter valued at approximately $195,000. Quantitative Systematic Strategies LLC acquired a new position in Freshpet in the 1st quarter valued at approximately $209,000. Schwab Charles Investment Management Inc. increased its stake in Freshpet by 14.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 127,351 shares of the company’s stock valued at $2,095,000 after buying an additional 16,490 shares during the period. Finally, BlackRock Inc. increased its stake in Freshpet by 0.3% in the 1st quarter. BlackRock Inc. now owns 1,526,129 shares of the company’s stock valued at $25,105,000 after buying an additional 4,854 shares during the period. 74.96% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Richard A. Kassar sold 15,000 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $33.50, for a total transaction of $502,500.00. Following the transaction, the chief financial officer now owns 203,231 shares in the company, valued at approximately $6,808,238.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott James Morris sold 4,450 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $34.00, for a total transaction of $151,300.00. Following the transaction, the insider now owns 197,798 shares in the company, valued at approximately $6,725,132. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,034 shares of company stock worth $3,325,722. 5.10% of the stock is currently owned by company insiders.

Several research analysts have weighed in on the stock. Credit Suisse Group upped their price objective on shares of Freshpet from $26.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, August 13th. Robert W. Baird upped their price objective on shares of Freshpet from $27.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, July 30th. Stifel Nicolaus upped their price objective on shares of Freshpet from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Finally, BidaskClub upgraded shares of Freshpet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 20th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $27.14.

Freshpet stock opened at $37.30 on Friday. Freshpet Inc has a twelve month low of $14.10 and a twelve month high of $38.30.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). Freshpet had a negative net margin of 3.33% and a negative return on equity of 5.05%. The company had revenue of $47.60 million during the quarter, compared to analyst estimates of $46.08 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. research analysts forecast that Freshpet Inc will post -0.05 EPS for the current year.

Freshpet Company Profile

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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