Wrapmanager Inc. Reduces Position in Freshpet, Inc. (NASDAQ:FRPT)

Wrapmanager Inc. decreased its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 27.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,567 shares of the company’s stock after selling 954 shares during the period. Wrapmanager Inc.’s holdings in Freshpet were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FRPT. Norges Bank acquired a new stake in shares of Freshpet in the fourth quarter valued at approximately $40,327,000. Public Employees Retirement Association of Colorado grew its holdings in Freshpet by 3,434.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock valued at $19,635,000 after buying an additional 219,913 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Freshpet in the 1st quarter worth $17,845,000. Verition Fund Management LLC purchased a new position in shares of Freshpet during the 4th quarter worth $12,395,000. Finally, Franklin Resources Inc. boosted its position in shares of Freshpet by 7.5% during the 4th quarter. Franklin Resources Inc. now owns 1,689,745 shares of the company’s stock valued at $146,602,000 after acquiring an additional 117,864 shares during the last quarter.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Freshpet Stock Performance

Shares of FRPT stock opened at $139.89 on Friday. The firm has a 50 day moving average of $129.15 and a two-hundred day moving average of $122.34. The stock has a market capitalization of $6.78 billion, a PE ratio of 777.21 and a beta of 1.39. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $143.06.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The firm had revenue of $235.30 million during the quarter, compared to analyst estimates of $230.99 million. During the same period last year, the business posted ($0.35) earnings per share. Freshpet’s revenue was up 28.4% compared to the same quarter last year. On average, research analysts predict that Freshpet, Inc. will post 0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FRPT shares. Oppenheimer raised their price objective on shares of Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price target on shares of Freshpet in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft began coverage on Freshpet in a report on Thursday, May 23rd. They issued a “buy” rating and a $150.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, TD Cowen upped their price target on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.87.

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.