Freshpet Inc (NASDAQ:FRPT) – Investment analysts at SunTrust Banks upped their Q4 2018 earnings estimates for Freshpet in a report released on Monday, August 6th, Zacks Investment Research reports. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings of $0.09 per share for the quarter, up from their prior forecast of $0.08. SunTrust Banks also issued estimates for Freshpet’s Q2 2019 earnings at $0.00 EPS and FY2019 earnings at $0.24 EPS.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Wednesday, July 18th. Credit Suisse Group upped their price objective on shares of Freshpet from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 19th. BidaskClub upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. Robert W. Baird upped their price objective on shares of Freshpet from $27.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Finally, Susquehanna Bancshares set a $17.00 price objective on shares of Freshpet and gave the stock a “hold” rating in a research report on Tuesday, May 8th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.14.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The business had revenue of $47.60 million for the quarter, compared to analyst estimates of $46.08 million. Freshpet had a negative net margin of 3.33% and a negative return on equity of 5.05%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share.
In other Freshpet news, CFO Richard A. Kassar sold 13,528 shares of the company’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $22.74, for a total value of $307,626.72. Following the completion of the transaction, the chief financial officer now owns 213,522 shares in the company, valued at $4,855,490.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott James Morris sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $34.82, for a total transaction of $870,500.00. Following the completion of the transaction, the insider now owns 166,214 shares of the company’s stock, valued at approximately $5,787,571.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,062 shares of company stock valued at $3,930,124. Insiders own 5.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Freshpet by 13.3% during the second quarter. Bank of New York Mellon Corp now owns 778,054 shares of the company’s stock worth $21,357,000 after purchasing an additional 91,592 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Freshpet during the second quarter worth about $440,000. Caption Management LLC purchased a new stake in shares of Freshpet during the second quarter worth about $2,470,000. Manatuck Hill Partners LLC increased its stake in shares of Freshpet by 409.2% during the second quarter. Manatuck Hill Partners LLC now owns 305,500 shares of the company’s stock worth $8,386,000 after purchasing an additional 245,500 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new stake in shares of Freshpet during the second quarter worth about $485,000. 74.96% of the stock is owned by institutional investors and hedge funds.
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.
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