United Services Automobile Association decreased its position in Freshpet, Inc. (NASDAQ:FRPT) by 29.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,560 shares of the company’s stock after selling 12,100 shares during the period. United Services Automobile Association owned 0.09% of Freshpet worth $314,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Freshpet by 306.2% in the first quarter. Bank of New York Mellon Corp now owns 531,700 shares of the company’s stock worth $5,849,000 after buying an additional 400,805 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Freshpet during the first quarter worth approximately $2,891,000. Alliancebernstein L.P. raised its stake in shares of Freshpet by 9.9% in the first quarter. Alliancebernstein L.P. now owns 2,303,739 shares of the company’s stock worth $25,341,000 after buying an additional 208,052 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Freshpet during the fourth quarter worth approximately $1,563,000. Finally, Emerald Advisers Inc. PA raised its stake in shares of Freshpet by 30.4% in the first quarter. Emerald Advisers Inc. PA now owns 575,586 shares of the company’s stock worth $6,331,000 after buying an additional 134,308 shares during the last quarter. Hedge funds and other institutional investors own 61.73% of the company’s stock.
Shares of Freshpet, Inc. (NASDAQ:FRPT) traded down 0.86% during midday trading on Friday, hitting $17.20. The stock had a trading volume of 85,430 shares. The firm’s 50-day moving average is $16.36 and its 200 day moving average is $12.99. Freshpet, Inc. has a one year low of $7.60 and a one year high of $18.25. The company’s market capitalization is $546.96 million.
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A number of equities research analysts have commented on FRPT shares. Zacks Investment Research lowered Freshpet from a “hold” rating to a “sell” rating in a research report on Monday, May 8th. ValuEngine upgraded Freshpet from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Credit Suisse Group lifted their price target on Freshpet from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, May 5th. Imperial Capital initiated coverage on Freshpet in a report on Thursday, July 20th. They set an “in-line” rating and a $16.50 price target for the company. They noted that the move was a valuation call. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target (up from $14.00) on shares of Freshpet in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.07.
In related news, VP Stephen Macchiaverna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $14.13, for a total transaction of $141,300.00. Following the completion of the transaction, the vice president now directly owns 82,938 shares of the company’s stock, valued at $1,171,913.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William B. Cyr purchased 7,300 shares of Freshpet stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average cost of $13.75 per share, with a total value of $100,375.00. Following the completion of the transaction, the chief executive officer now directly owns 75,532 shares of the company’s stock, valued at approximately $1,038,565. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 45,125 shares of company stock valued at $666,758. 8.20% of the stock is owned by corporate insiders.
Freshpet Company Profile
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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