Commerce Bank continued to hold its stake in Freshpet, Inc. (NASDAQ:FRPT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,167 shares of the company’s stock at the close of the second quarter. Commerce Bank owned about 0.09% of Freshpet worth $501,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in shares of Freshpet in the 1st quarter valued at $122,000. Bank of Montreal Can lifted its stake in shares of Freshpet by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock valued at $122,000 after acquiring an additional 103 shares during the last quarter. American International Group Inc. lifted its stake in shares of Freshpet by 7.1% in the 1st quarter. American International Group Inc. now owns 13,762 shares of the company’s stock valued at $151,000 after acquiring an additional 917 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in Freshpet during the 1st quarter worth $155,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Freshpet during the 1st quarter worth $183,000. Institutional investors own 66.81% of the company’s stock.
Shares of Freshpet, Inc. (NASDAQ FRPT) opened at 14.50 on Friday. The stock has a 50 day moving average price of $15.93 and a 200 day moving average price of $14.33. Freshpet, Inc. has a 52 week low of $7.60 and a 52 week high of $18.25. The firm’s market capitalization is $461.10 million.
Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). Freshpet had a negative net margin of 2.57% and a negative return on equity of 3.44%. The business had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.09 million. During the same period in the prior year, the business posted ($0.10) EPS. Freshpet’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts forecast that Freshpet, Inc. will post ($0.09) EPS for the current year.
Several brokerages recently issued reports on FRPT. ValuEngine raised Freshpet from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Freshpet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Imperial Capital initiated coverage on Freshpet in a research report on Thursday, July 20th. They set an “in-line” rating and a $16.50 target price for the company. They noted that the move was a valuation call. SunTrust Banks, Inc. lifted their price objective on Freshpet from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Finally, Credit Suisse Group lifted their price objective on Freshpet from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Freshpet currently has an average rating of “Hold” and an average price target of $16.36.
In other Freshpet news, insider Scott James Morris sold 2,101 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $15.80, for a total transaction of $33,195.80. Following the completion of the transaction, the insider now owns 204,408 shares of the company’s stock, valued at $3,229,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard A. Kassar sold 23,239 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $16.00, for a total transaction of $371,824.00. Following the transaction, the chief financial officer now directly owns 208,971 shares of the company’s stock, valued at approximately $3,343,536. The disclosure for this sale can be found here. Insiders have sold 40,954 shares of company stock valued at $653,704 in the last ninety days. Insiders own 6.80% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by BBNS and is the property of of BBNS. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://baseballnewssource.com/markets/commerce-bank-has-501000-holdings-in-freshpet-inc-frpt/1600761.html.
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.
Receive News & Ratings for Freshpet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshpet Inc. and related companies with our FREE daily email newsletter.