Wrapmanager Inc. Has $228,000 Stake in Freshpet Inc (FRPT)
Wrapmanager Inc. reduced its stake in shares of Freshpet Inc (NASDAQ:FRPT) by 21.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,023 shares of the company’s stock after selling 3,217 shares during the quarter. Wrapmanager Inc.’s holdings in Freshpet were worth $228,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of FRPT. Voya Investment Management LLC acquired a new position in shares of Freshpet in the 2nd quarter valued at approximately $188,000. Brighton Jones LLC acquired a new position in shares of Freshpet in the 3rd quarter valued at approximately $232,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Freshpet in the 2nd quarter valued at approximately $252,000. Citadel Advisors LLC grew its position in shares of Freshpet by 4.0% in the 2nd quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock valued at $321,000 after purchasing an additional 750 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Freshpet by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,598 shares of the company’s stock valued at $343,000 after purchasing an additional 1,144 shares during the period. Institutional investors and hedge funds own 69.61% of the company’s stock.
In related news, VP Stephen Macchiaverna sold 4,946 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $17.34, for a total value of $85,763.64. Following the sale, the vice president now owns 77,884 shares in the company, valued at approximately $1,350,508.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott James Morris sold 2,500 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $18.71, for a total value of $46,775.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,218 shares of company stock worth $1,211,499. Company insiders own 6.80% of the company’s stock.
Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Freshpet had a negative return on equity of 4.19% and a negative net margin of 3.04%. The company had revenue of $41.20 million for the quarter, compared to analysts’ expectations of $41.19 million. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue was up 19.4% compared to the same quarter last year. equities analysts expect that Freshpet Inc will post -0.11 earnings per share for the current year.
Several brokerages recently issued reports on FRPT. BidaskClub lowered Freshpet from a “buy” rating to a “hold” rating in a research report on Thursday, December 28th. Zacks Investment Research cut Freshpet from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Stifel Nicolaus restated a “buy” rating on shares of Freshpet in a research note on Friday, December 15th. Credit Suisse Group boosted their target price on Freshpet from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, November 7th. Finally, Robert W. Baird restated a “buy” rating and issued a $22.00 target price on shares of Freshpet in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.07.
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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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