Icon Wealth Advisors LLC Boosts Stake in Freshpet, Inc. (NASDAQ:FRPT)

Icon Wealth Advisors LLC lifted its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 529.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,200 shares of the company’s stock after purchasing an additional 11,103 shares during the period. Icon Wealth Advisors LLC’s holdings in Freshpet were worth $1,805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new position in Freshpet during the third quarter valued at $29,000. ORG Partners LLC purchased a new position in Freshpet in the 2nd quarter valued at about $32,000. GAMMA Investing LLC boosted its holdings in Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after buying an additional 108 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after buying an additional 367 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Freshpet during the 2nd quarter worth approximately $52,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FRPT. Stifel Nicolaus lifted their price target on Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their target price on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Oppenheimer increased their target price on shares of Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Robert W. Baird boosted their price target on shares of Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their price objective on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.80.

Freshpet Price Performance

FRPT stock opened at $156.76 on Friday. Freshpet, Inc. has a 52-week low of $68.22 and a 52-week high of $159.12. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 176.14 and a beta of 1.39. The business has a fifty day moving average of $142.30 and a two-hundred day moving average of $133.28.

Freshpet (NASDAQ:FRPT) last issued 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. The firm had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. Freshpet’s revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) EPS. As a group, research analysts anticipate that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Insider Buying and Selling

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 approximately $12,046,320.39. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction that occurred on 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. 3.70% of the stock is currently owned by corporate insiders.

About Freshpet

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.