Breakwater Capital Group Buys Shares of 1,698 Freshpet, Inc. (NASDAQ:FRPT)

Breakwater Capital Group bought a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,698 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Freshpet by 4.7% in the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock valued at $115,650,000 after acquiring an additional 37,287 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Freshpet in the 3rd quarter valued at approximately $1,465,000. Geneva Capital Management LLC increased its stake in Freshpet by 166.2% during the 3rd quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock worth $11,519,000 after purchasing an additional 52,584 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 in the last quarter. Finally, Savoir Faire Capital Management L.P. raised its holdings in Freshpet by 230.2% during the 2nd quarter. Savoir Faire Capital Management L.P. now owns 24,300 shares of the company’s stock worth $3,144,000 after buying an additional 16,940 shares during the period.

Freshpet Stock Up 1.7 %

Shares of FRPT stock opened at $150.27 on Wednesday. Freshpet, Inc. has a 52-week low of $83.77 and a 52-week high of $160.91. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 168.84 and a beta of 1.41. The firm’s 50-day moving average is $149.90 and its 200-day moving average is $139.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. Sell-side analysts predict that Freshpet, Inc. will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FRPT shares. Oppenheimer upped their price target on shares of Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upped their price target on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen lifted their price objective on shares of Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and an average price target of $163.36.

Insider Buying and Selling at Freshpet

In other news, President Scott James Morris sold 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total value of $790,650.00. Following the transaction, the president now directly owns 122,380 shares of the company’s stock, valued at $19,351,949.40. This represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thembeka Machaba sold 2,500 shares of the firm’s stock in a transaction dated 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 sold 12,500 shares of company stock valued at $1,962,175 in the last quarter. 3.70% of the stock is currently owned by insiders.

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.