Icon Wealth Advisors LLC Acquires 11,103 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Icon Wealth Advisors LLC raised its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 529.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,200 shares of the company's stock after acquiring an additional 11,103 shares during the quarter. Icon Wealth Advisors LLC's holdings in Freshpet were worth $1,805,000 at the end of the most recent reporting period.

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

Freshpet Price Performance

Shares of FRPT traded up $0.19 during trading hours on Friday, hitting $156.76. 565,460 shares of the company were exchanged, compared to its average volume of 612,943. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 176.14 and a beta of 1.39. The firm's fifty day moving average is $142.64 and its 200 day moving average is $133.53. Freshpet, Inc. has a fifty-two week low of $68.22 and a fifty-two week high of $159.12. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

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

Insider Buying and Selling at Freshpet

In related news, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Freshpet from $157.00 to $175.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Truist Financial raised their price objective on Freshpet from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on Freshpet from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Oppenheimer raised their price target on Freshpet from $155.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Finally, DA Davidson upped their price objective on shares of Freshpet from $183.00 to $189.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.