Elk Creek Partners LLC Trims Position in Freshpet Inc (NASDAQ:FRPT)

Elk Creek Partners LLC decreased its stake in shares of Freshpet Inc (NASDAQ:FRPT) by 38.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,850 shares of the company’s stock after selling 120,247 shares during the quarter. Elk Creek Partners LLC owned about 0.53% of Freshpet worth $7,986,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its stake in Freshpet by 7.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 10,874 shares of the company’s stock valued at $350,000 after buying an additional 753 shares during the last quarter. WINTON GROUP Ltd raised its stake in Freshpet by 4.5% during the fourth quarter. WINTON GROUP Ltd now owns 18,369 shares of the company’s stock valued at $591,000 after buying an additional 789 shares during the last quarter. Stephens Inc. AR raised its stake in Freshpet by 14.2% during the fourth quarter. Stephens Inc. AR now owns 7,531 shares of the company’s stock valued at $242,000 after buying an additional 938 shares during the last quarter. Legal & General Group Plc raised its stake in Freshpet by 28.2% during the fourth quarter. Legal & General Group Plc now owns 5,209 shares of the company’s stock valued at $167,000 after buying an additional 1,146 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Freshpet by 0.4% during the fourth quarter. Northern Trust Corp now owns 421,106 shares of the company’s stock valued at $13,542,000 after buying an additional 1,862 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

A number of research firms have commented on FRPT. Credit Suisse Group set a $36.00 target price on Freshpet and gave the stock a “neutral” rating in a report on Tuesday, March 5th. BidaskClub upgraded Freshpet from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. SunTrust Banks downgraded Freshpet from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Tuesday, June 18th. They noted that the move was a valuation call. DA Davidson started coverage on Freshpet in a research report on Wednesday, June 19th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Zacks Investment Research upgraded Freshpet from a “strong sell” rating to a “hold” rating and set a $51.00 price objective on the stock in a research report on Monday, May 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $43.57.

Shares of FRPT traded down $1.73 during mid-day trading on Wednesday, reaching $44.08. 441,144 shares of the company’s stock traded hands, compared to its average volume of 291,491. The stock has a market capitalization of $1.58 billion, a PE ratio of -293.87 and a beta of 1.22. The firm’s 50-day moving average is $47.08. Freshpet Inc has a 12 month low of $25.81 and a 12 month high of $51.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.72 and a current ratio of 1.08.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, May 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $54.80 million for the quarter, compared to the consensus estimate of $54.28 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 4.46%. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. As a group, equities research analysts forecast that Freshpet Inc will post 0.06 EPS for the current year.

In other news, insider Scott James Morris sold 20,436 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.58, for a total transaction of $992,780.88. Following the completion of the sale, the insider now owns 168,510 shares in the company, valued at approximately $8,186,215.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard A. Kassar sold 15,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $47.75, for a total value of $716,250.00. Following the completion of the transaction, the chief financial officer now owns 164,994 shares of the company’s stock, valued at approximately $7,878,463.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 174,104 shares of company stock worth $8,335,030. Insiders own 5.10% of the company’s stock.

Freshpet Profile

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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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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