Wolverine Asset Management LLC Lowers Stake in Freshpet, Inc. (NASDAQ:FRPT)

Wolverine Asset Management LLC lowered its stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 46.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,631 shares of the company's stock after selling 15,080 shares during the period. Wolverine Asset Management LLC's holdings in Freshpet were worth $2,411,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in Freshpet during the third quarter worth about $29,000. ORG Partners LLC acquired a new stake in shares of Freshpet in the second quarter worth approximately $32,000. GAMMA Investing LLC boosted its holdings in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company's stock worth $48,000 after purchasing an additional 108 shares during the period. Benjamin F. Edwards & Company Inc. raised 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 worth $49,000 after buying an additional 367 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Freshpet during the second quarter worth approximately $52,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Freshpet from $126.00 to $154.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Stifel Nicolaus boosted their target price on shares of Freshpet from $155.00 to $165.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. TD Cowen upped their target price on Freshpet from $160.00 to $174.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Truist Financial boosted their target price on Freshpet from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird increased their price objective on Freshpet from $157.00 to $170.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.13.

Insider Transactions at Freshpet

In related news, insider Thembeka Machaba sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares of the company's stock, valued at approximately $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Freshpet Stock Down 0.9 %

Freshpet stock traded down $1.36 during midday trading on Tuesday, reaching $155.08. The company's stock had a trading volume of 357,807 shares, compared to its average volume of 585,984. The company has a quick ratio of 3.69, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $139.77 and a 200-day simple moving average of $131.05. The company has a market cap of $7.53 billion, a P/E ratio of 175.78 and a beta of 1.39. Freshpet, Inc. has a fifty-two week low of $66.36 and a fifty-two week high of $159.12.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.10. The business had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. Freshpet's revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) EPS. On average, research analysts expect that Freshpet, Inc. will post 0.87 earnings per share for the current fiscal year.

Freshpet 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.