Point72 Asset Management L.P. Buys 186,889 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Point72 Asset Management L.P. raised its stake in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 391.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,626 shares of the company's stock after buying an additional 186,889 shares during the period. Point72 Asset Management L.P. owned about 0.48% of Freshpet worth $32,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company's stock worth $48,000 after acquiring an additional 108 shares during the last quarter. GLOBALT Investments LLC GA boosted its position in Freshpet by 3.2% during the 3rd quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company's stock valued at $490,000 after buying an additional 111 shares during the period. First Horizon Advisors Inc. increased its position in shares of Freshpet by 23.0% in the third quarter. First Horizon Advisors Inc. now owns 739 shares of the company's stock valued at $101,000 after acquiring an additional 138 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Freshpet by 13.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company's stock worth $169,000 after purchasing an additional 159 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Freshpet by 6.7% during the 2nd quarter. Amalgamated Bank now owns 2,740 shares of the company's stock valued at $355,000 after purchasing an additional 171 shares during the period.

Insider Transactions at Freshpet

In related news, President Scott James Morris sold 5,000 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total value of $790,650.00. Following the completion of the transaction, the president now owns 122,380 shares of the company's stock, valued at approximately $19,351,949.40. This represents a 3.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock worth $1,962,175 in the last three months. Corporate insiders own 3.70% of the company's stock.

Freshpet Stock Performance

FRPT stock traded up $0.14 during trading on Friday, reaching $154.37. The stock had a trading volume of 448,279 shares, compared to its average volume of 575,616. The firm has a market cap of $7.49 billion, a PE ratio of 173.45 and a beta of 1.41. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average is $145.27 and its two-hundred day moving average is $135.47. Freshpet, Inc. has a 52 week low of $71.98 and a 52 week high of $160.91.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The firm's revenue was up 26.3% compared to the same quarter last year. As a group, equities analysts anticipate that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FRPT shares. TD Cowen boosted their price objective on shares of Freshpet from $160.00 to $174.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Oppenheimer raised their price objective on shares of Freshpet from $155.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. Wells Fargo & Company increased their target price on Freshpet from $157.00 to $175.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Robert W. Baird increased their price objective on Freshpet from $157.00 to $170.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, DA Davidson upped their target price on shares of Freshpet from $183.00 to $189.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $157.80.

Freshpet Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.