Gilder Gagnon Howe & Co. LLC Increases Holdings in Freshpet, Inc. (FRPT)
Gilder Gagnon Howe & Co. LLC boosted its position in Freshpet, Inc. (NASDAQ:FRPT) by 117.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,682,510 shares of the company’s stock after purchasing an additional 907,644 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 4.86% of Freshpet worth $26,331,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in FRPT. UBS Asset Management Americas Inc. purchased a new position in Freshpet in the first quarter worth about $155,000. American International Group Inc. boosted 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 purchasing an additional 917 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 purchasing an additional 41,545 shares during the last quarter. Geode Capital Management LLC boosted its position in Freshpet by 5.0% in the first quarter. Geode Capital Management LLC now owns 161,411 shares of the company’s stock worth $1,775,000 after purchasing an additional 7,702 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Freshpet by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 68,556 shares of the company’s stock worth $755,000 after purchasing an additional 3,420 shares during the last quarter. 68.29% of the stock is currently owned by institutional investors and hedge funds.
Freshpet, Inc. (NASDAQ:FRPT) traded down $0.28 during mid-day trading on Tuesday, hitting $17.12. The stock had a trading volume of 273,500 shares, compared to its average volume of 198,169. Freshpet, Inc. has a 12-month low of $8.60 and a 12-month high of $18.25.
Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Freshpet had a negative return on equity of 4.19% and a negative net margin of 3.04%. The firm had revenue of $41.20 million for the quarter, compared to analysts’ expectations of $41.19 million. During the same period in the previous year, the firm earned $0.02 EPS. The business’s quarterly revenue was up 19.4% on a year-over-year basis. sell-side analysts predict that Freshpet, Inc. will post -0.11 earnings per share for the current year.
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FRPT has been the topic of several research reports. Imperial Capital initiated coverage on Freshpet in a research report on Thursday, July 20th. They issued an “in-line” rating and a $16.50 target price on the stock. They noted that the move was a valuation call. Zacks Investment Research raised Freshpet from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price (up from $14.00) on shares of Freshpet in a research report on Thursday, July 20th. Robert W. Baird set a $20.00 target price on Freshpet and gave the stock a “buy” rating in a research report on Sunday, October 15th. Finally, BidaskClub cut Freshpet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.36.
In other news, VP Stephen Macchiaverna sold 6,000 shares of Freshpet stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $15.81, for a total transaction of $94,860.00. Following the transaction, the vice president now directly owns 78,938 shares of the company’s stock, valued at approximately $1,248,009.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard A. Kassar sold 23,239 shares of Freshpet stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $16.00, for a total value of $371,824.00. Following the transaction, the chief financial officer now directly owns 208,971 shares in the company, valued at $3,343,536. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,777 shares of company stock worth $506,872. Insiders own 6.80% of the company’s stock.
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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