Freshpet, Inc. (NASDAQ:FRPT) released its quarterly earnings results on Monday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01, Briefing.com reports. The firm had revenue of $39.97 million for the quarter, compared to analysts’ expectations of $38.09 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 3.44%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) earnings per share.
Freshpet (NASDAQ:FRPT) remained flat at $15.85 during trading on Friday. The stock had a trading volume of 165,965 shares. The company’s market capitalization is $504.03 million. Freshpet has a 52 week low of $7.60 and a 52 week high of $18.25. The company has a 50-day moving average price of $16.49 and a 200-day moving average price of $13.56.
In other Freshpet news, CFO Richard A. Kassar sold 23,239 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $16.00, for a total transaction of $371,824.00. Following the sale, the chief financial officer now owns 208,971 shares of the company’s stock, valued at $3,343,536. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard A. Kassar sold 15,125 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $15.26, for a total transaction of $230,807.50. Following the sale, the chief financial officer now directly owns 215,119 shares in the company, valued at approximately $3,282,715.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,978 shares of company stock worth $840,106. 6.80% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position 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 during the last quarter. Alliancebernstein L.P. raised its position in 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 during the period. American International Group Inc. raised its position in Freshpet by 7.1% in the first quarter. American International Group Inc. now owns 13,762 shares of the company’s stock worth $151,000 after buying an additional 917 shares during the period. KBC Group NV raised its position in Freshpet by 250.4% in the first quarter. KBC Group NV now owns 36,717 shares of the company’s stock worth $404,000 after buying an additional 26,238 shares during the period. Finally, JPMorgan Chase & Co. raised its position in 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 during the period. 63.86% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Credit Suisse Group upped their target price on shares of Freshpet from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, June 16th. ValuEngine upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub lowered shares of Freshpet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Imperial Capital began coverage on shares of Freshpet in a research report on Thursday, July 20th. They set an “in-line” rating and a $16.50 price target for the company. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Freshpet currently has an average rating of “Hold” and a consensus target price of $16.36.
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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