Freshpet, Inc. (NASDAQ:FRPT) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 391.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 234,626 shares of the company’s stock after buying an additional 186,889 shares during the quarter. Point72 Asset Management L.P.’s holdings in Freshpet were worth $32,090,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Freshpet by 41.1% in the second 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. CWM LLC raised its stake in shares of Freshpet by 65.9% during the second quarter. CWM LLC now owns 496 shares of the company’s stock valued at $64,000 after purchasing an additional 197 shares during the period. SG Americas Securities LLC acquired a new position in shares of Freshpet during the second quarter worth $3,964,000. M&G Plc acquired a new position in shares of Freshpet during the second quarter worth $8,892,000. Finally, ORG Partners LLC purchased a new position in shares of Freshpet in the second quarter valued at $32,000.

Insiders Place Their Bets

In other news, insider Thembeka Machaba sold 2,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total transaction of $790,650.00. Following the completion of the sale, the president now owns 122,380 shares in the company, valued at approximately $19,351,949.40. This represents a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FRPT has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of Freshpet in a research note on Friday, November 1st. Truist Financial boosted their price target on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com lowered Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. TD Cowen upped their target price on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their target price on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research 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, Freshpet presently has a consensus rating of “Moderate Buy” and an average price target of $157.80.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $154.23 on Friday. The company has a market cap of $7.49 billion, a PE ratio of 173.29 and a beta of 1.41. Freshpet, Inc. has a fifty-two week low of $71.66 and a fifty-two week high of $160.91. The firm has a 50-day simple moving average of $145.27 and a 200 day simple moving average of $135.47. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10. The company 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%. The business’s revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) earnings per share. On average, sell-side analysts anticipate 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.