William Blair Investment Management LLC grew its position in Freshpet, Inc. (NASDAQ:FRPT – Free Report) by 30.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,952,767 shares of the company’s stock after acquiring an additional 461,444 shares during the quarter. William Blair Investment Management LLC’s holdings in Freshpet were worth $118,982,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. State of Wyoming bought a new stake in shares of Freshpet in the 2nd quarter valued at about $34,000. Signaturefd LLC boosted its holdings in shares of Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after buying an additional 296 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after buying an additional 472 shares in the last quarter. Ossiam boosted its holdings in shares of Freshpet by 81.1% in the 2nd quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after buying an additional 228 shares in the last quarter. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of Freshpet in the 4th quarter valued at about $32,000.
Wall Street Analyst Weigh In
Several equities analysts recently commented on FRPT shares. Bank of America decreased their price objective on shares of Freshpet from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. TD Cowen raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Wednesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Freshpet from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised shares of Freshpet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $66.00 to $68.00 in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freshpet in a research report on Monday, April 20th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.88.
Insiders Place Their Bets
In other Freshpet news, Director Craig D. Steeneck purchased 2,000 shares of Freshpet stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $47.83 per share, with a total value of $95,660.00. Following the transaction, the director owned 37,500 shares of the company’s stock, valued at $1,793,625. This represents a 5.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William B. Cyr sold 42,907 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the transaction, the chief executive officer directly owned 204,585 shares of the company’s stock, valued at $9,803,713.20. This represents a 17.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders acquired 4,211 shares of company stock valued at $215,027 and sold 188,448 shares valued at $9,275,025. 4.43% of the stock is currently owned by insiders.
Freshpet Stock Performance
FRPT opened at $51.58 on Friday. Freshpet, Inc. has a 12-month low of $46.45 and a 12-month high of $86.31. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.53 billion, a PE ratio of 13.79 and a beta of 1.73. The firm has a 50 day moving average of $61.18 and a two-hundred day moving average of $64.18.
Freshpet (NASDAQ:FRPT – Get Free Report) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. Freshpet had a net margin of 17.63% and a return on equity of 6.22%. The company had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. During the same period last year, the firm posted $0.36 EPS. Freshpet’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts anticipate that Freshpet, Inc. will post 1.71 EPS for the current year.
Freshpet Profile
Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.
Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.
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