Connor Clark & Lunn Investment Management Ltd. Acquires 22,651 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 31.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,713 shares of the company's stock after purchasing an additional 22,651 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.20% of Freshpet worth $13,091,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. ORG Wealth Partners LLC bought a new position in Freshpet during the third quarter valued at about $29,000. ORG Partners LLC acquired a new position in shares of Freshpet in the 2nd quarter worth approximately $32,000. GAMMA Investing LLC raised 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 purchasing an additional 108 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Freshpet by 3,670.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company's stock valued at $49,000 after purchasing an additional 367 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Freshpet during the second quarter worth approximately $52,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Freshpet from $161.00 to $163.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Truist Financial upped their target price on Freshpet from $160.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Robert W. Baird raised their target price on shares of Freshpet from $157.00 to $170.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Benchmark restated a "buy" rating and set a $150.00 price target on shares of Freshpet in a report on Friday, November 1st. Finally, Stifel Nicolaus upped their price target on shares of Freshpet from $155.00 to $165.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $157.80.

Insider Activity

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Freshpet Stock Up 0.6 %

FRPT stock traded up $0.97 during mid-day trading on Friday, hitting $157.54. The stock had a trading volume of 331,964 shares, compared to its average volume of 580,807. Freshpet, Inc. has a 1-year low of $68.22 and a 1-year high of $159.12. The company has a fifty day moving average of $142.30 and a 200 day moving average of $133.28. 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 has a market capitalization of $7.65 billion, a price-to-earnings ratio of 176.67 and a beta of 1.39.

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

Freshpet Company 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.