Landscape Capital Management L.L.C. acquired a new stake in shares of Freshpet Inc (NASDAQ:FRPT) during the 2nd quarter, HoldingsChannel reports. The fund acquired 148,074 shares of the company’s stock, valued at approximately $6,739,000. Freshpet accounts for approximately 0.5% of Landscape Capital Management L.L.C.’s portfolio, making the stock its 29th biggest position.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC lifted its holdings in Freshpet by 749.2% during the first quarter. FMR LLC now owns 2,538,489 shares of the company’s stock valued at $107,353,000 after purchasing an additional 2,239,553 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Freshpet by 5.2% in the second quarter. JPMorgan Chase & Co. now owns 1,044,824 shares of the company’s stock valued at $47,477,000 after buying an additional 51,413 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Freshpet by 5.0% in the first quarter. Victory Capital Management Inc. now owns 925,062 shares of the company’s stock valued at $39,121,000 after buying an additional 43,950 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Freshpet by 2.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 797,333 shares of the company’s stock valued at $36,287,000 after buying an additional 16,936 shares during the last quarter. Finally, Wasatch Advisors Inc. raised its position in shares of Freshpet by 8.1% in the second quarter. Wasatch Advisors Inc. now owns 702,480 shares of the company’s stock valued at $31,970,000 after buying an additional 52,525 shares during the last quarter. 89.31% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Scott James Morris sold 49,766 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $47.79, for a total transaction of $2,378,317.14. Following the completion of the sale, the insider now directly owns 170,232 shares in the company, valued at $8,135,387.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard A. Kassar sold 55,509 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $47.78, for a total transaction of $2,652,220.02. Following the sale, the chief financial officer now owns 184,463 shares of the company’s stock, valued at $8,813,642.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,104 shares of company stock valued at $8,335,030. 5.10% of the stock is owned by company insiders.
FRPT has been the subject of a number of recent research reports. SunTrust Banks reduced their target price on shares of Freshpet to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. They noted that the move was a valuation call. JPMorgan Chase & Co. initiated coverage on shares of Freshpet in a research report on Tuesday, July 30th. They issued a “neutral” rating and a $46.00 target price for the company. Zacks Investment Research cut shares of Freshpet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. DA Davidson initiated coverage on shares of Freshpet in a research report on Wednesday, June 19th. They issued a “buy” rating and a $60.00 target price for the company. Finally, BidaskClub cut shares of Freshpet from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Freshpet presently has an average rating of “Hold” and an average price target of $46.17.
Shares of NASDAQ FRPT traded down $1.85 during mid-day trading on Wednesday, reaching $40.00. The company’s stock had a trading volume of 22,256 shares, compared to its average volume of 328,069. The business has a 50-day simple moving average of $44.01. The firm has a market cap of $1.51 billion, a PE ratio of -268.00 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.32. Freshpet Inc has a 1-year low of $28.44 and a 1-year high of $51.85.
Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.08). Freshpet had a negative return on equity of 6.23% and a negative net margin of 3.42%. The firm had revenue of $60.10 million for the quarter, compared to analyst estimates of $59.59 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. Freshpet’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, equities analysts predict that Freshpet Inc will post 0.04 EPS for the current fiscal year.
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.
Read More: What are CEFs?
Want to see what other hedge funds are holding FRPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshpet Inc (NASDAQ:FRPT).
Receive News & Ratings for Freshpet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshpet and related companies with MarketBeat.com's FREE daily email newsletter.