Algert Global LLC Buys 21,977 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Algert Global LLC raised its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 86.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,304 shares of the company's stock after buying an additional 21,977 shares during the period. Algert Global LLC owned about 0.10% of Freshpet worth $6,470,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FRPT. Cerity Partners LLC acquired a new position in shares of Freshpet in the 3rd quarter worth $1,044,000. Icon Wealth Advisors LLC increased its stake in Freshpet by 529.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,200 shares of the company's stock worth $1,805,000 after purchasing an additional 11,103 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Freshpet by 54.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company's stock worth $60,135,000 after purchasing an additional 154,909 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Freshpet by 23.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 739 shares of the company's stock worth $101,000 after buying an additional 138 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Freshpet by 31.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,713 shares of the company's stock valued at $13,091,000 after buying an additional 22,651 shares in the last quarter.

Insider Transactions at Freshpet

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FRPT. Wells Fargo & Company boosted their price target on shares of Freshpet from $157.00 to $175.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on shares of Freshpet from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Truist Financial raised their target price on Freshpet from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. TD Cowen lifted their price target on Freshpet from $160.00 to $174.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Benchmark reissued a "buy" rating and issued a $150.00 price objective on shares of Freshpet in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Freshpet currently has a consensus rating of "Moderate Buy" and an average price target of $157.80.

Freshpet Stock Up 0.1 %

NASDAQ FRPT traded up $0.19 during trading on Friday, reaching $156.76. The company's stock had a trading volume of 565,460 shares, compared to its average volume of 612,943. The business has a 50-day moving average price of $142.64 and a 200-day moving average price of $133.53. Freshpet, Inc. has a 1-year low of $68.22 and a 1-year high of $159.12. The stock has a market capitalization of $7.61 billion, a PE ratio of 176.14 and a beta of 1.39. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

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