Procyon Advisors LLC Acquires 634 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Procyon Advisors LLC boosted its position in Freshpet, Inc. (NASDAQ:FRPT) by 29.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,764 shares of the company’s stock after acquiring an additional 634 shares during the quarter. Procyon Advisors LLC’s holdings in Freshpet were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FRPT. E. Ohman J or Asset Management AB boosted its position in shares of Freshpet by 19.7% during the 1st quarter. E. Ohman J or Asset Management AB now owns 13,136 shares of the company’s stock valued at $1,093,000 after acquiring an additional 2,166 shares in the last quarter. MRA Advisory Group acquired a new position in Freshpet in the first quarter valued at about $371,000. Breakwater Capital Group raised its stake in shares of Freshpet by 415.1% in the first quarter. Breakwater Capital Group now owns 8,747 shares of the company’s stock worth $727,000 after acquiring an additional 7,049 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of Freshpet in the first quarter worth about $255,000. Finally, Rhumbline Advisers raised its stake in shares of Freshpet by 131.0% in the first quarter. Rhumbline Advisers now owns 106,438 shares of the company’s stock worth $8,852,000 after acquiring an additional 60,352 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FRPT shares. TD Cowen downgraded shares of Freshpet from a “buy” rating to a “hold” rating and set a $96.00 price target for the company. in a research note on Wednesday, May 28th. Stifel Nicolaus dropped their price target on shares of Freshpet from $135.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Benchmark dropped their price target on shares of Freshpet from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price target on shares of Freshpet from $91.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Freshpet from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.86.

Freshpet Stock Down 3.7%

NASDAQ:FRPT opened at $77.44 on Tuesday. The firm’s 50 day simple moving average is $79.54 and its 200 day simple moving average is $112.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. Freshpet, Inc. has a one year low of $71.19 and a one year high of $164.07. The company has a market cap of $3.78 billion, a PE ratio of 82.38 and a beta of 1.86.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $263.25 million during the quarter, compared to analyst estimates of $265.57 million. Freshpet had a return on equity of 3.92% and a net margin of 4.81%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. On average, research analysts anticipate that Freshpet, Inc. will post 1.55 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.