J David Basto Acquires 6,400 Shares of Freshpet Inc (NASDAQ:FRPT) Stock

Freshpet Inc (NASDAQ:FRPT) Director J David Basto bought 6,400 shares of the stock in a transaction dated Thursday, August 8th. The shares were purchased at an average cost of $38.61 per share, for a total transaction of $247,104.00. Following the completion of the purchase, the director now owns 23,721 shares in the company, valued at $915,867.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of FRPT traded up $0.02 during mid-day trading on Monday, hitting $39.71. 331,628 shares of the company were exchanged, compared to its average volume of 325,511. Freshpet Inc has a 1-year low of $28.44 and a 1-year high of $51.85. The company has a current ratio of 1.51, a quick ratio of 0.72 and a debt-to-equity ratio of 0.32. The firm’s 50 day simple moving average is $44.66. The stock has a market cap of $1.42 billion, a PE ratio of -264.73 and a beta of 1.11.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). Freshpet had a negative return on equity of 6.23% and a negative net margin of 3.42%. The company had revenue of $60.10 million for the quarter, compared to analyst estimates of $59.59 million. During the same quarter last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, equities research analysts expect that Freshpet Inc will post 0.04 EPS for the current year.



Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Redhawk Wealth Advisors Inc. purchased a new position in Freshpet in the 2nd quarter valued at approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Freshpet by 21.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,087 shares of the company’s stock valued at $95,000 after purchasing an additional 363 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Freshpet in the 1st quarter valued at $120,000. SG Americas Securities LLC acquired a new stake in shares of Freshpet in the 1st quarter valued at $140,000. Finally, Legal & General Group Plc raised its holdings in shares of Freshpet by 28.2% in the 4th quarter. Legal & General Group Plc now owns 5,209 shares of the company’s stock valued at $167,000 after purchasing an additional 1,146 shares in the last quarter. Hedge funds and other institutional investors own 86.92% of the company’s stock.

FRPT has been the topic of several recent analyst reports. BidaskClub lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Thursday. SunTrust Banks lowered their target price on shares of Freshpet to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. They noted that the move was a valuation call. JPMorgan Chase & Co. initiated coverage on shares of Freshpet in a research note on Tuesday, July 30th. They set a “neutral” rating and a $46.00 target price on the stock. DA Davidson started coverage on shares of Freshpet in a research note on Wednesday, June 19th. They set a “buy” rating and a $60.00 target price on the stock. Finally, ValuEngine downgraded shares of Freshpet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $46.17.

About Freshpet

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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