Freshpet, Inc. (NASDAQ:FRPT) Holdings Reduced by Emerald Advisers LLC

Emerald Advisers LLC cut its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 4.4% during the third quarter, according to the company in its most recent 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 period. Freshpet accounts for 2.7% of Emerald Advisers LLC’s holdings, making the stock its 2nd biggest holding. Emerald Advisers LLC owned 1.06% of Freshpet worth $70,300,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FRPT. TimesSquare Capital Management LLC purchased a new stake in shares of Freshpet during the 1st quarter worth approximately $17,845,000. Driehaus Capital Management LLC raised its holdings in Freshpet by 24.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock valued at $93,327,000 after buying an additional 141,615 shares during the period. M&G Plc purchased a new stake in Freshpet during the 2nd quarter valued at $8,892,000. Renaissance Technologies LLC purchased a new stake in Freshpet during the 2nd quarter valued at $8,902,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Freshpet by 199.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company’s stock valued at $11,462,000 after buying an additional 65,868 shares during the period.

Freshpet Stock Up 0.9 %

Shares of FRPT traded up $1.15 during midday trading on Friday, reaching $133.69. 753,844 shares of the stock were exchanged, 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 company’s 50 day moving average is $137.58 and its two-hundred day moving average is $128.80. The company has a market capitalization of $6.48 billion, a P/E ratio of 267.39 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) EPS. On average, sell-side analysts anticipate that Freshpet, Inc. will post 0.73 earnings per share for the current 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.

Analysts Set New Price Targets

Several research firms recently weighed in on FRPT. Citigroup increased their price target on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a research report on Friday. Bank of America upped their price objective on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. TD Cowen upped their price objective on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus upped their price objective on Freshpet from $135.00 to $155.00 and gave the company a “buy” rating in a research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.87.

About Freshpet

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.