Lecap Asset Management Ltd. Makes New Investment in Freshpet, Inc. (NASDAQ:FRPT)

Lecap Asset Management Ltd. purchased a new position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,514 shares of the company's stock, valued at approximately $817,000.

Several other institutional investors have also added to or reduced their stakes in the business. WCM Investment Management LLC lifted its stake in shares of Freshpet by 749.7% in the 3rd 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. Geode Capital Management LLC increased its stake in Freshpet by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 835,663 shares of the company's stock worth $115,650,000 after purchasing an additional 37,287 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Freshpet by 54.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company's stock valued at $60,135,000 after purchasing an additional 154,909 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company's stock valued at $32,090,000 after purchasing an additional 186,889 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Freshpet by 38.2% during the third quarter. TimesSquare Capital Management LLC now owns 199,592 shares of the company's stock valued at $27,298,000 after purchasing an additional 55,200 shares during the period.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Freshpet from $155.00 to $165.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Oppenheimer raised their target price on Freshpet from $155.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. TD Cowen increased their price objective on Freshpet from $160.00 to $174.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Benchmark reiterated a "buy" rating and issued a $150.00 price objective on shares of Freshpet in a research report on Friday, November 1st. Finally, Wells Fargo & Company upped their target price on Freshpet from $157.00 to $175.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Freshpet currently has a consensus rating of "Moderate Buy" and an average target price of $163.36.

Freshpet Stock Up 0.3 %

NASDAQ FRPT traded up $0.40 during trading hours on Tuesday, reaching $130.75. 1,919,910 shares of the company's stock traded hands, compared to its average volume of 679,956. Freshpet, Inc. has a 52-week low of $84.02 and a 52-week high of $164.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The firm has a 50-day simple moving average of $149.75 and a 200 day simple moving average of $143.07. The firm has a market cap of $6.35 billion, a PE ratio of 146.91 and a beta of 1.42.

Insider Activity

In other news, President Scott James Morris sold 5,000 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total transaction of $790,650.00. Following the completion of the transaction, the president now directly owns 122,380 shares in the company, valued at $19,351,949.40. This trade represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company's stock.

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.