Jennison Associates LLC lowered its position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,150,941 shares of the company's stock after selling 35,236 shares during the quarter. Jennison Associates LLC owned 2.37% of Freshpet worth $157,414,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. WCM Investment Management LLC increased its position in Freshpet by 749.7% during the third quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company's stock valued at $376,187,000 after acquiring an additional 2,445,199 shares during the last quarter. Driehaus Capital Management LLC grew its position in Freshpet by 24.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company's stock worth $93,327,000 after purchasing an additional 141,615 shares during the last quarter. M&G Plc purchased a new position in shares of Freshpet in the second quarter worth about $8,892,000. Renaissance Technologies LLC purchased a new stake in Freshpet in the second quarter valued at $8,902,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Freshpet by 199.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company's stock worth $11,462,000 after purchasing an additional 65,868 shares during the period.
Wall Street Analysts Forecast Growth
Several brokerages have commented on FRPT. StockNews.com lowered Freshpet from a "hold" rating to a "sell" rating in a report on Wednesday. Robert W. Baird upped their price objective on shares of Freshpet from $157.00 to $170.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Benchmark reissued a "buy" rating and set a $150.00 target price on shares of Freshpet in a research note on Friday, November 1st. DA Davidson upped their target price on Freshpet from $183.00 to $189.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, TD Cowen raised their price target on Freshpet from $160.00 to $174.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $157.80.
Check Out Our Latest Report on Freshpet
Freshpet Price Performance
NASDAQ:FRPT traded down $3.25 on Wednesday, reaching $153.13. The stock had a trading volume of 238,916 shares, compared to its average volume of 581,683. The stock has a fifty day moving average price of $141.68 and a 200-day moving average price of $132.98. 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, Inc. has a 1-year low of $68.22 and a 1-year high of $159.12. The company has a market capitalization of $7.43 billion, a P/E ratio of 175.71 and a beta of 1.39.
Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. During the same period last year, the company earned ($0.15) earnings per share. The firm's revenue was up 26.3% compared to the same quarter last year. Research analysts forecast that Freshpet, Inc. will post 0.87 EPS for the current year.
Insider Buying and Selling
In related news, EVP Stephen Macchiaverna sold 2,178 shares of the business's 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 transaction, the executive vice president now directly owns 86,039 shares of the company's stock, valued at approximately $12,046,320.39. The trade was a 2.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thembeka Machaba sold 2,500 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.
Freshpet Profile
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Free Report)
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.
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