Victory Capital Management Inc. Raises Position in Freshpet, Inc. (NASDAQ:FRPT)

Victory Capital Management Inc. increased its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 211.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,810 shares of the company’s stock after purchasing an additional 234,836 shares during the period. Victory Capital Management Inc. owned 0.72% of Freshpet worth $30,002,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. RiverPark Advisors LLC acquired a new stake in Freshpet in the 3rd quarter worth about $28,000. Washington Trust Advisors Inc. boosted its position in shares of Freshpet by 617.3% in the fourth quarter. Washington Trust Advisors Inc. now owns 581 shares of the company’s stock worth $50,000 after acquiring an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Freshpet in the third quarter worth approximately $59,000. Pathstone Family Office LLC purchased a new stake in Freshpet in the third quarter valued at approximately $206,000. Finally, Wealth Alliance acquired a new position in Freshpet during the fourth quarter worth approximately $217,000.

Freshpet Stock Down 0.3 %

Shares of Freshpet stock opened at $120.70 on Wednesday. Freshpet, Inc. has a 1-year low of $54.60 and a 1-year high of $127.25. The company has a market capitalization of $5.85 billion, a PE ratio of -170.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08. The business has a 50-day moving average of $110.64 and a 200-day moving average of $90.00.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.22. The firm had revenue of $215.40 million during the quarter, compared to the consensus estimate of $204.93 million. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. Freshpet’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) earnings per share. As a group, equities analysts forecast that Freshpet, Inc. will post 0.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FRPT has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Citigroup assumed coverage on Freshpet in a research report on Thursday, February 1st. They set a “neutral” rating and a $94.00 price target for the company. Wells Fargo & Company upped their price target on Freshpet from $124.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Finally, DA Davidson increased their target price on shares of Freshpet from $138.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.71.

Insider Activity at Freshpet

In other Freshpet news, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $112.02, for a total value of $280,050.00. Following the sale, the chief operating officer now directly owns 122,380 shares in the company, valued at $13,709,007.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Scott James Morris sold 2,500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $112.02, for a total value of $280,050.00. Following the sale, the chief operating officer now owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen Macchiaverna sold 7,130 shares of the business’s stock in a transaction dated 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 in the company, valued at $9,231,127.68. The disclosure for this sale can be found here. Insiders sold a total of 15,762 shares of company stock valued at $1,737,280 in the last quarter. Insiders own 3.60% of the company’s stock.

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.