Brooklyn Investment Group Makes New Investment in Freshpet, Inc. (NASDAQ:FRPT)

Brooklyn Investment Group acquired a new position in Freshpet, Inc. (NASDAQ:FRPT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 397 shares of the company’s stock, valued at approximately $54,000.

A number of other large investors have also modified their holdings of FRPT. WCM Investment Management LLC raised its position in shares of Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after purchasing an additional 2,445,199 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Freshpet by 54.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after purchasing an additional 154,909 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of Freshpet by 24.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock worth $93,327,000 after purchasing an additional 141,615 shares during the last quarter. M&G Plc acquired a new position in shares of Freshpet during the 2nd quarter worth about $8,892,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Freshpet during the 2nd quarter worth about $8,902,000.

Insiders Place Their Bets

In other Freshpet news, President Scott James Morris sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total transaction of $790,650.00. Following the sale, the president now directly owns 122,380 shares in the company, valued at $19,351,949.40. This represents a 3.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,678 shares of company stock worth $1,480,217 in the last ninety days. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. StockNews.com cut shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. TD Cowen upped their price objective on shares of Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. DA Davidson upped their price objective on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.80.

Freshpet Stock Performance

NASDAQ:FRPT opened at $153.05 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The stock has a market capitalization of $7.43 billion, a P/E ratio of 171.97 and a beta of 1.39. The company has a 50 day moving average price of $143.76 and a 200 day moving average price of $134.49. Freshpet, Inc. has a fifty-two week low of $69.37 and a fifty-two week high of $160.91.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The firm had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) EPS. Equities research analysts forecast that Freshpet, Inc. will post 0.87 EPS for the current year.

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.