Lisanti Capital Growth LLC Cuts Position in Freshpet, Inc. (NASDAQ:FRPT)

Lisanti Capital Growth LLC lessened its position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 26.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,950 shares of the company's stock after selling 18,240 shares during the quarter. Freshpet makes up about 1.8% of Lisanti Capital Growth LLC's holdings, making the stock its 9th largest position. Lisanti Capital Growth LLC owned about 0.11% of Freshpet worth $7,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Driehaus Capital Management LLC raised its position in Freshpet by 24.4% during the second quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company's stock worth $93,327,000 after acquiring an additional 141,615 shares during the last quarter. M&G Plc acquired a new stake in Freshpet during the 2nd quarter valued at $8,892,000. Renaissance Technologies LLC purchased a new position in Freshpet during the second quarter worth $8,902,000. Price T Rowe Associates Inc. MD lifted its position in shares of Freshpet by 199.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company's stock valued at $11,462,000 after acquiring an additional 65,868 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new stake in shares of Freshpet during the second quarter valued at $7,823,000.

Freshpet Stock Up 0.2 %

NASDAQ:FRPT traded up $0.30 on Monday, reaching $156.75. The stock had a trading volume of 280,585 shares, compared to its average volume of 586,522. The company has a current ratio of 4.72, a quick ratio of 3.69 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 12-month low of $66.36 and a 12-month high of $159.12. The company has a 50-day moving average of $139.37 and a 200 day moving average of $130.69. The stock has a market cap of $7.61 billion, a P/E ratio of 177.68 and a beta of 1.39.

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

Insider Buying and Selling

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Freshpet from $157.00 to $170.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. DA Davidson upped their target price on Freshpet from $183.00 to $189.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price target on Freshpet from $157.00 to $175.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Benchmark reiterated a "buy" rating and set a $150.00 price objective on shares of Freshpet in a report on Friday, November 1st. Finally, Truist Financial boosted their target price on shares of Freshpet from $160.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.13.

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.