Geneva Capital Management LLC Purchases 52,584 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Geneva Capital Management LLC lifted its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 166.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,221 shares of the company's stock after acquiring an additional 52,584 shares during the period. Geneva Capital Management LLC owned 0.17% of Freshpet worth $11,519,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in shares of Freshpet in the 3rd quarter valued at about $29,000. ORG Partners LLC bought a new stake in Freshpet in the second quarter worth about $32,000. GAMMA Investing LLC lifted its stake in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company's stock worth $48,000 after purchasing an additional 108 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Freshpet by 3,670.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company's stock worth $49,000 after purchasing an additional 367 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Freshpet in the second quarter worth about $52,000.

Wall Street Analyst Weigh In

FRPT has been the subject of several analyst reports. TD Cowen raised their price objective on shares of Freshpet from $160.00 to $174.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Truist Financial raised their price objective on shares of Freshpet from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. DA Davidson lifted their price target on shares of Freshpet from $183.00 to $189.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their price target 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. Finally, Benchmark reaffirmed a "buy" rating and set a $150.00 price target on shares of Freshpet in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $156.13.

Freshpet Trading Up 0.2 %

FRPT stock traded up $0.37 on Wednesday, hitting $155.45. 93,566 shares of the company were exchanged, compared to its average volume of 583,748. Freshpet, Inc. has a twelve month low of $68.14 and a twelve month high of $159.12. The business's fifty day moving average is $140.13 and its two-hundred day moving average is $131.39. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 174.78 and a beta of 1.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating 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 net margin of 4.75% and a return on equity of 3.67%. The firm's revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) EPS. As a group, research analysts forecast that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now owns 86,039 shares of the company's stock, valued at $12,046,320.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Thembeka Machaba sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the firm's stock in a transaction that occurred 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 approximately $12,046,320.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

About Freshpet

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.