King Luther Capital Management Corp grew its stake in shares of Freshpet Inc (NASDAQ:FRPT) by 26.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,265 shares of the company’s stock after purchasing an additional 9,545 shares during the quarter. King Luther Capital Management Corp owned approximately 0.13% of Freshpet worth $1,957,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Federated Investors Inc. PA increased its stake in Freshpet by 79.2% in the 1st quarter. Federated Investors Inc. PA now owns 395,982 shares of the company’s stock worth $16,746,000 after acquiring an additional 174,953 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Freshpet during the 1st quarter valued at approximately $233,000. NumerixS Investment Technologies Inc bought a new position in shares of Freshpet during the 1st quarter valued at approximately $120,000. Wasatch Advisors Inc. increased its position in shares of Freshpet by 11.2% during the 1st quarter. Wasatch Advisors Inc. now owns 649,955 shares of the company’s stock valued at $27,487,000 after purchasing an additional 65,505 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Freshpet by 6.1% during the 1st quarter. New York State Common Retirement Fund now owns 57,656 shares of the company’s stock valued at $2,438,000 after purchasing an additional 3,328 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on FRPT. BidaskClub cut Freshpet from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. DA Davidson began coverage on Freshpet in a report on Wednesday, June 19th. They issued a “buy” rating and a $60.00 target price for the company. SunTrust Banks cut Freshpet from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Tuesday, June 18th. They noted that the move was a valuation call. Zacks Investment Research raised Freshpet from a “strong sell” rating to a “hold” rating and set a $51.00 target price on the stock in a research report on Monday, May 6th. Finally, TheStreet lowered Freshpet from a “b” rating to a “c” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $43.57.
Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, May 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $54.80 million during the quarter, compared to analysts’ expectations of $54.28 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 4.46%. The business’s revenue was up 26.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) EPS. Analysts predict that Freshpet Inc will post 0.06 earnings per share for the current year.
In related news, EVP Stephen Weise sold 5,000 shares of Freshpet stock in a transaction on Monday, June 10th. The stock was sold at an average price of $47.50, for a total value of $237,500.00. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares in the company, valued at $237,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard A. Kassar sold 55,509 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $47.78, for a total value of $2,652,220.02. Following the completion of the sale, the chief financial officer now directly owns 184,463 shares of the company’s stock, valued at $8,813,642.14. The disclosure for this sale can be found here. Insiders sold 174,104 shares of company stock valued at $8,335,030 over the last ninety days. Insiders own 5.10% of the company’s stock.
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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