Wrapmanager Inc. Cuts Position in Freshpet, Inc. (NASDAQ:FRPT)

Wrapmanager Inc. lowered its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 34.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,673 shares of the company’s stock after selling 894 shares during the quarter. Wrapmanager Inc.’s holdings in Freshpet were worth $229,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. ORG Wealth Partners LLC acquired a new stake in shares of Freshpet in the third quarter valued at about $29,000. ORG Partners LLC purchased a new position in Freshpet in the 2nd quarter valued at $32,000. GAMMA Investing LLC boosted its stake in Freshpet by 41.1% during the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after purchasing an additional 108 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted 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 purchasing an additional 367 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Freshpet during the second quarter worth about $52,000.

Freshpet Price Performance

Freshpet stock opened at $156.38 on Wednesday. The company’s 50 day moving average is $141.68 and its two-hundred day moving average is $132.98. The firm has a market cap of $7.59 billion, a PE ratio of 175.71 and a beta of 1.39. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 52-week low of $68.22 and a 52-week high of $159.12.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The firm had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same period last year, the business posted ($0.15) earnings per share. Freshpet’s revenue was up 26.3% compared to the same quarter last year. On average, research analysts expect that Freshpet, Inc. will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Thembeka Machaba sold 2,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction dated 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 position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

FRPT has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on Freshpet from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their price target on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen upped their price target on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.80.

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.