Emerald Mutual Fund Advisers Trust Has $51.10 Million Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Emerald Mutual Fund Advisers Trust decreased its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 17.5% in the third quarter, Holdings Channel.com reports. The firm owned 373,633 shares of the company’s stock after selling 79,126 shares during the period. Freshpet comprises 2.7% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 2nd largest holding. Emerald Mutual Fund Advisers Trust’s holdings in Freshpet were worth $51,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FRPT. TimesSquare Capital Management LLC bought a new position in shares of Freshpet during the first quarter valued at approximately $17,845,000. Driehaus Capital Management LLC grew its holdings in shares of Freshpet by 24.4% during the second quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock valued at $93,327,000 after buying an additional 141,615 shares during the last quarter. M&G Plc purchased a new stake in shares of Freshpet during the second quarter valued at approximately $8,892,000. Renaissance Technologies LLC purchased a new stake in shares of Freshpet during the second quarter valued at approximately $8,902,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Freshpet by 199.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company’s stock valued at $11,462,000 after buying an additional 65,868 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FRPT shares. Benchmark reiterated a “buy” rating and set a $150.00 price target on shares of Freshpet in a report on Friday. TD Cowen increased their price target on shares of Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on shares of Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Wells Fargo & Company raised their target price on shares of Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Stifel Nicolaus raised their target price on shares of Freshpet from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.87.

Insider Activity

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

Freshpet Trading Up 0.9 %

Shares of Freshpet stock opened at $133.69 on Friday. The company’s fifty day simple moving average is $137.58 and its 200-day simple moving average is $128.80. The stock has a market capitalization of $6.48 billion, a PE ratio of 267.39 and a beta of 1.39. Freshpet, Inc. has a 1-year low of $57.11 and a 1-year high of $145.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.06. The business had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $230.99 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The company’s revenue was up 28.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS. As a group, equities analysts anticipate that Freshpet, Inc. will post 0.73 earnings per share for the current year.

Freshpet Company 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.