Emerald Advisers LLC cut its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,004 shares of the company's stock after selling 23,656 shares during the quarter. Freshpet comprises approximately 2.7% of Emerald Advisers LLC's holdings, making the stock its 2nd biggest position. Emerald Advisers LLC owned approximately 1.06% of Freshpet worth $70,300,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in Freshpet during the 3rd quarter valued at $29,000. ORG Partners LLC acquired a new stake in Freshpet during the 2nd quarter valued at $32,000. Whittier Trust Co. acquired a new stake in Freshpet during the 1st quarter valued at $41,000. GAMMA Investing LLC lifted its holdings in Freshpet by 41.1% during the 2nd 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. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company's stock valued at $49,000 after purchasing an additional 367 shares during the last quarter.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Bank of America raised their price target on Freshpet from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price on Freshpet from $113.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, August 6th. Wells Fargo & Company lifted their target price on Freshpet from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 10th. Truist Financial lifted their target price on Freshpet from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, Stifel Nicolaus lifted their target price on Freshpet from $135.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $145.87.
Get Our Latest Research Report on Freshpet
Freshpet Price Performance
Freshpet stock traded up $1.15 during midday trading on Friday, reaching $133.69. The company's stock had a trading volume of 753,844 shares, compared to its average volume of 379,476. Freshpet, Inc. has a 52 week low of $57.11 and a 52 week high of $145.68. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $137.58 and a 200-day moving average price of $128.80. The stock has a market cap of $6.48 billion, a PE ratio of 267.39 and a beta of 1.39.
Freshpet (NASDAQ:FRPT - Get Free Report) last released its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The firm had revenue of $235.30 million for the quarter, compared to analysts' expectations of $230.99 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. The business's revenue for the quarter was up 28.4% on a year-over-year basis. On average, sell-side analysts predict that Freshpet, Inc. will post 0.73 EPS for the current year.
Insider Buying and Selling at Freshpet
In other Freshpet news, 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 transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.70% of the company's stock.
Freshpet Company 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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