ProShare Advisors LLC acquired a new stake in Freshpet, Inc. (NASDAQ:FRPT – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 77,203 shares of the company’s stock, valued at approximately $5,110,000. ProShare Advisors LLC owned 0.16% of Freshpet as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of FRPT. Advisor Group Holdings Inc. grew its stake in shares of Freshpet by 63.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,983 shares of the company’s stock worth $306,000 after purchasing an additional 1,154 shares during the period. HighTower Advisors LLC increased its holdings in Freshpet by 129.9% in the first quarter. HighTower Advisors LLC now owns 7,492 shares of the company’s stock valued at $790,000 after buying an additional 4,233 shares in the last quarter. Citigroup Inc. lifted its position in shares of Freshpet by 155.2% during the 1st quarter. Citigroup Inc. now owns 18,953 shares of the company’s stock valued at $1,944,000 after acquiring an additional 11,527 shares during the period. Bank of Montreal Can grew its holdings in shares of Freshpet by 104.0% in the 1st quarter. Bank of Montreal Can now owns 20,798 shares of the company’s stock worth $2,203,000 after acquiring an additional 10,601 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in Freshpet in the 1st quarter valued at approximately $271,000.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on FRPT shares. Oppenheimer upped their target price on Freshpet from $80.00 to $100.00 and gave the company a “top pick” rating in a research note on Thursday, August 10th. TD Cowen began coverage on Freshpet in a research report on Wednesday, September 13th. They set an “outperform” rating and a $90.00 price objective for the company. Robert W. Baird boosted their target price on shares of Freshpet from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. JPMorgan Chase & Co. cut shares of Freshpet from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $78.00 to $84.00 in a research note on Tuesday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $100.00 price objective on shares of Freshpet in a research report on Wednesday, September 13th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and an average target price of $87.20.
Insider Buying and Selling at Freshpet
In other Freshpet news, Director Walter N. George bought 1,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were acquired at an average cost of $73.53 per share, with a total value of $73,530.00. Following the completion of the transaction, the director now owns 47,176 shares in the company, valued at $3,468,851.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.
Freshpet Price Performance
Freshpet stock opened at $72.72 on Tuesday. The firm has a fifty day moving average of $73.38 and a 200-day moving average of $67.58. Freshpet, Inc. has a 52-week low of $37.92 and a 52-week high of $84.70. The company has a quick ratio of 5.45, a current ratio of 6.29 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.51 billion, a P/E ratio of -55.09 and a beta of 0.95.
Freshpet (NASDAQ:FRPT – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. Freshpet had a negative return on equity of 6.39% and a negative net margin of 9.45%. The company had revenue of $183.30 million for the quarter, compared to analyst estimates of $184.71 million. During the same period last year, the company posted ($0.45) earnings per share. The firm’s revenue was up 25.5% compared to the same quarter last year. As a group, analysts predict that Freshpet, Inc. will post -1.02 EPS for the current year.
Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. 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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