Transcendent Capital Group LLC Makes New Investment in Freshpet, Inc. (NASDAQ:FRPT)

Transcendent Capital Group LLC acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,708 shares of the company's stock, valued at approximately $1,465,000.

Several other institutional investors have also recently modified their holdings of FRPT. Axxcess Wealth Management LLC purchased a new position in Freshpet in the 1st quarter valued at about $811,000. Sei Investments Co. boosted its position in Freshpet by 4.4% during the first quarter. Sei Investments Co. now owns 249,021 shares of the company's stock worth $28,852,000 after acquiring an additional 10,456 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Freshpet in the 2nd quarter worth approximately $3,964,000. Duality Advisers LP purchased a new stake in Freshpet in the 1st quarter worth approximately $854,000. Finally, Great Lakes Advisors LLC acquired a new position in Freshpet in the 2nd quarter valued at $4,299,000.

Freshpet Stock Up 2.1 %

Freshpet stock traded up $3.23 during trading on Friday, reaching $156.45. 874,429 shares of the company's stock were exchanged, compared to its average volume of 539,303. Freshpet, Inc. has a 52-week low of $65.85 and a 52-week high of $159.12. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 175.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.69 and a current ratio of 4.72. The company's 50-day moving average is $139.37 and its two-hundred day moving average is $130.69.

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

Insider Buying and Selling at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction 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 owns 86,039 shares of the company's stock, valued at $12,046,320.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on FRPT. Stifel Nicolaus raised their price objective on Freshpet from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company increased their target price on Freshpet from $157.00 to $175.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Truist Financial lifted their price target on Freshpet from $160.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Benchmark reaffirmed a "buy" rating and set a $150.00 price objective on shares of Freshpet in a research note on Friday, November 1st. Finally, Robert W. Baird increased their price objective on shares of Freshpet from $157.00 to $170.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. One equities research 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. Based on data from MarketBeat.com, Freshpet presently has an average rating of "Moderate Buy" and a consensus target price of $156.13.

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.