Wasatch Advisors LP Lowers Stake in Freshpet, Inc. (NASDAQ:FRPT)

Wasatch Advisors LP lowered its position in Freshpet, Inc. (NASDAQ:FRPT) by 5.2% during the 1st quarter, Holdings Channel reports. The firm owned 2,630,187 shares of the company’s stock after selling 144,166 shares during the quarter. Freshpet comprises approximately 1.6% of Wasatch Advisors LP’s investment portfolio, making the stock its 14th largest holding. Wasatch Advisors LP owned 0.05% of Freshpet worth $304,733,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FRPT. Johnson Financial Group Inc. bought a new position in shares of Freshpet during the 4th quarter worth $29,000. GAMMA Investing LLC raised its holdings in shares of Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after acquiring an additional 132 shares in the last quarter. Quarry LP purchased a new stake in Freshpet in the fourth quarter worth about $40,000. Washington Trust Advisors Inc. grew its holdings in Freshpet by 617.3% during the 4th quarter. Washington Trust Advisors Inc. now owns 581 shares of the company’s stock worth $50,000 after acquiring an additional 500 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its position in Freshpet by 96.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $153,000 after purchasing an additional 860 shares during the period.

Insider Buying and Selling

In other news, EVP Stephen Macchiaverna sold 1,012 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $120.61, for a total value of $122,057.32. Following the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $10,377,163.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 13,560 shares of company stock worth $1,701,580. 3.60% of the stock is owned by company insiders.

Freshpet Stock Performance

Shares of NASDAQ FRPT traded up $3.36 during midday trading on Tuesday, reaching $132.36. The company had a trading volume of 491,572 shares, compared to its average volume of 604,183. The stock has a market cap of $6.41 billion, a P/E ratio of 735.37 and a beta of 1.36. The company has a current ratio of 4.97, a quick ratio of 4.09 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $124.27 and its 200 day simple moving average is $107.00. Freshpet, Inc. has a 1 year low of $54.60 and a 1 year high of $132.84.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.43. Freshpet had a return on equity of 0.20% and a net margin of 1.19%. The business had revenue of $223.85 million for the quarter, compared to analyst estimates of $216.43 million. On average, analysts forecast that Freshpet, Inc. will post 0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FRPT shares. StockNews.com raised shares of Freshpet to a “sell” rating in a research report on Saturday, May 4th. Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and increased their target price for the company from $120.00 to $135.00 in a research report on Monday, March 11th. Robert W. Baird boosted their price target on Freshpet from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. TD Cowen raised their price objective on Freshpet from $128.00 to $143.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, DA Davidson lifted their target price on Freshpet from $138.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.25.

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.