Wealth Enhancement Advisory Services LLC Takes Position in Freshpet, Inc. (NASDAQ:FRPT)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,812 shares of the company's stock, valued at approximately $795,000.

Several other large investors also recently bought and sold shares of FRPT. Whittier Trust Co. bought a new stake in Freshpet in the 1st quarter worth about $41,000. Duality Advisers LP bought a new stake in shares of Freshpet during the 1st quarter valued at about $854,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Freshpet during the 1st quarter valued at about $244,000. Quantbot Technologies LP bought a new stake in shares of Freshpet during the 1st quarter valued at about $3,388,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Freshpet during the 1st quarter valued at about $295,000.

Freshpet Stock Down 1.3 %

Shares of FRPT stock traded down $2.04 during mid-day trading on Thursday, hitting $153.22. The stock had a trading volume of 925,766 shares, compared to its average volume of 586,605. Freshpet, Inc. has a 12-month low of $65.81 and a 12-month high of $157.10. The firm has a market capitalization of $7.43 billion, a P/E ratio of 174.46 and a beta of 1.39. The firm's 50-day moving average is $138.60 and its two-hundred day moving average is $129.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69.

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 3.72% and a net margin of 4.75%. The business had revenue of $253.40 million during the quarter, compared to analysts' expectations of $248.36 million. During the same period in the prior year, the business earned ($0.15) EPS. The business's revenue for the quarter was up 26.3% compared to the same quarter last year. On average, analysts predict that Freshpet, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TD Cowen boosted their price target on Freshpet from $160.00 to $174.00 and gave the company a "buy" rating in a research note on Tuesday. DA Davidson lifted their price objective on Freshpet from $183.00 to $189.00 and gave the company a "buy" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Freshpet from $161.00 to $163.00 and gave the company a "buy" rating in a research report on Tuesday. Truist Financial lifted their price objective on Freshpet from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on Freshpet from $126.00 to $154.00 and gave the company a "neutral" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.