Concourse Capital Management LLC cut its stake in Freshpet Inc. (NASDAQ:FRPT) by 38.2% during the second quarter, Holdings Channel reports. The institutional investor owned 62,224 shares of the company’s stock after selling 38,486 shares during the period. Concourse Capital Management LLC’s holdings in Freshpet were worth $581,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FRPT. Bank of New York Mellon Corp raised its stake in Freshpet by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 139,511 shares of the company’s stock valued at $1,302,000 after buying an additional 19,388 shares in the last quarter. California State Teachers Retirement System raised its stake in Freshpet by 6.5% in the second quarter. California State Teachers Retirement System now owns 46,845 shares of the company’s stock valued at $437,000 after buying an additional 2,876 shares in the last quarter. Finally, Riverbridge Partners LLC raised its stake in Freshpet by 40.3% in the second quarter. Riverbridge Partners LLC now owns 2,552,253 shares of the company’s stock valued at $23,813,000 after buying an additional 732,575 shares in the last quarter. 67.00% of the stock is owned by institutional investors.
Freshpet Inc. (NASDAQ:FRPT) traded up 0.60% on Friday, hitting $8.40. The stock had a trading volume of 337,848 shares. The company’s market cap is $267.12 million. Freshpet Inc. has a 12 month low of $5.60 and a 12 month high of $11.81. The company has a 50-day moving average of $9.00 and a 200 day moving average of $9.28.
Freshpet (NASDAQ:FRPT) last released its earnings results on Thursday, August 4th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.07. Freshpet had a negative return on equity of 3.80% and a negative net margin of 3.12%. The firm had revenue of $33 million for the quarter, compared to analyst estimates of $32.92 million. During the same period last year, the firm earned ($0.07) EPS. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, analysts predict that Freshpet Inc. will post ($0.12) EPS for the current fiscal year.
Several equities research analysts recently issued reports on FRPT shares. Zacks Investment Research lowered shares of Freshpet from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $10.00 price objective (up from $9.00) on shares of Freshpet in a report on Friday, July 15th. Wedbush reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Freshpet in a report on Friday, August 5th. Stephens raised shares of Freshpet from an “equal weight” rating to an “overweight” rating in a report on Friday, August 5th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Freshpet in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $10.22.
In other Freshpet news, VP Mary Kathryn Winstanley sold 7,920 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $10.01, for a total value of $79,279.20. Following the completion of the transaction, the vice president now directly owns 24,404 shares of the company’s stock, valued at $244,284.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William B. Cyr purchased 50,382 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was bought at an average cost of $9.89 per share, with a total value of $498,277.98. Following the completion of the acquisition, the chief executive officer now directly owns 27,919 shares of the company’s stock, valued at approximately $276,118.91. The disclosure for this purchase can be found here. Corporate insiders own 8.20% 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 offers products consisting of dog food, cat food, and dog and cat treats.