Freshpet, Inc. (NASDAQ:FRPT) Stock Position Lifted by Algert Global LLC

Algert Global LLC raised its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 86.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,304 shares of the company’s stock after buying an additional 21,977 shares during the period. Algert Global LLC owned about 0.10% of Freshpet worth $6,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in Freshpet during the third quarter valued at $29,000. ORG Partners LLC acquired a new stake in shares of Freshpet during the 2nd quarter valued at about $32,000. GAMMA Investing LLC grew its stake in shares of Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after buying an additional 108 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Freshpet by 3,670.0% in the second 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 last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Freshpet during the second quarter valued at approximately $52,000.

Freshpet Stock Performance

Shares of NASDAQ FRPT opened at $156.76 on Friday. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $142.64 and its two-hundred day moving average is $133.53. The company has a market cap of $7.61 billion, a P/E ratio of 176.14 and a beta of 1.39. Freshpet, Inc. has a 12 month low of $68.22 and a 12 month high of $159.12.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.24 EPS 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 for the quarter, compared to the consensus estimate of $248.36 million. During the same period in the previous year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, equities analysts expect that Freshpet, Inc. will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FRPT. StockNews.com lowered shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their price target on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Cowen increased their price objective on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, DA Davidson raised their price objective on Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $157.80.

Insider Transactions at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction that occurred 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 sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. This trade represents a 2.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $384,625.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by 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.