Sigma Planning Corp Cuts Stake in Freshpet, Inc. (NASDAQ:FRPT)

Sigma Planning Corp decreased its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 22.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,119 shares of the company’s stock after selling 1,211 shares during the period. Sigma Planning Corp’s holdings in Freshpet were worth $357,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in FRPT. Wellington Management Group LLP boosted its position in Freshpet by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,576,014 shares of the company’s stock valued at $235,588,000 after buying an additional 185,210 shares during the period. JANA Partners Management LP purchased a new stake in Freshpet during the 3rd quarter valued at $214,405,000. William Blair Investment Management LLC boosted its position in Freshpet by 4.2% during the 3rd quarter. William Blair Investment Management LLC now owns 2,740,708 shares of the company’s stock valued at $180,558,000 after buying an additional 110,383 shares during the period. JPMorgan Chase & Co. raised its holdings in Freshpet by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,118,646 shares of the company’s stock worth $139,576,000 after purchasing an additional 17,678 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Freshpet by 6.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,254,061 shares of the company’s stock worth $82,617,000 after purchasing an additional 73,393 shares during the period.

Insiders Place Their Bets

In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of Freshpet stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total value of $773,818.90. Following the completion of the transaction, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Scott James Morris sold 2,500 shares of Freshpet stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $113.76, for a total value of $284,400.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,921,948.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Macchiaverna sold 7,130 shares of Freshpet stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the sale, the executive vice president now owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,762 shares of company stock valued at $1,737,280. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

FRPT has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. DA Davidson raised their target price on shares of Freshpet from $104.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Oppenheimer raised their target price on shares of Freshpet from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and raised their target price for the stock from $120.00 to $135.00 in a research report on Monday, March 11th. Finally, Citigroup began coverage on shares of Freshpet in a research report on Thursday, February 1st. They issued a “neutral” rating and a $94.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.36.

Freshpet Stock Up 1.3 %

Shares of Freshpet stock opened at $106.36 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.08 and a current ratio of 4.79. The stock has a market capitalization of $5.14 billion, a PE ratio of -147.86 and a beta of 1.23. Freshpet, Inc. has a 52-week low of $54.60 and a 52-week high of $117.76. The company has a 50-day simple moving average of $107.77 and a two-hundred day simple moving average of $86.81.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.22. The business had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. On average, analysts anticipate that Freshpet, Inc. will post 0.07 EPS for the current fiscal year.

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.