Savoir Faire Capital Management L.P. Acquires 29,091 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Savoir Faire Capital Management L.P. increased its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 119.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,391 shares of the company's stock after purchasing an additional 29,091 shares during the period. Freshpet accounts for approximately 3.7% of Savoir Faire Capital Management L.P.'s investment portfolio, making the stock its 5th biggest position. Savoir Faire Capital Management L.P. owned approximately 0.11% of Freshpet worth $7,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Freshpet by 41.1% during the 2nd 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. GLOBALT Investments LLC GA boosted its position in Freshpet by 3.2% during the third quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company's stock worth $490,000 after acquiring an additional 111 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Freshpet by 13.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company's stock valued at $169,000 after acquiring an additional 159 shares in the last quarter. Amalgamated Bank raised its holdings in Freshpet by 6.7% in the 2nd quarter. Amalgamated Bank now owns 2,740 shares of the company's stock valued at $355,000 after acquiring an additional 171 shares during the last quarter. Finally, KBC Group NV raised its holdings in Freshpet by 0.8% in the 3rd quarter. KBC Group NV now owns 24,869 shares of the company's stock valued at $3,401,000 after acquiring an additional 186 shares during the last quarter.

Freshpet Trading Up 3.9 %

Shares of NASDAQ FRPT traded up $5.89 during trading on Tuesday, reaching $156.38. The stock had a trading volume of 737,602 shares, compared to its average volume of 583,213. The business's 50-day moving average price is $141.68 and its 200-day moving average price is $132.98. Freshpet, Inc. has a fifty-two week low of $68.22 and a fifty-two week high of $159.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The company has a market cap of $7.59 billion, a P/E ratio of 175.71 and a beta of 1.39.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $248.36 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. The business's revenue for the quarter was up 26.3% compared to the same quarter last year. On average, equities research analysts predict that Freshpet, Inc. will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FRPT has been the topic of several recent research reports. TD Cowen boosted their target price on Freshpet from $160.00 to $174.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Freshpet from $161.00 to $163.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. 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. Benchmark reissued a "buy" rating and set a $150.00 price target on shares of Freshpet in a research report on Friday, November 1st. Finally, Stifel Nicolaus lifted their target price on shares of Freshpet from $155.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Freshpet presently has an average rating of "Moderate Buy" and a consensus target price of $157.80.

Insiders Place Their Bets

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company'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 sale, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. This represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of Freshpet stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Freshpet Company 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.