Western Standard LLC Purchases New Position in Freshpet, Inc. $FRPT

Western Standard LLC acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 64,000 shares of the company’s stock, valued at approximately $3,527,000. Freshpet accounts for approximately 1.0% of Western Standard LLC’s investment portfolio, making the stock its 17th biggest position.

Several other large investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Freshpet by 86.3% during the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock valued at $5,624,000 after buying an additional 31,334 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock valued at $151,000 after purchasing an additional 1,593 shares in the last quarter. United Services Automobile Association purchased a new position in Freshpet during the first quarter worth approximately $247,000. Ethic Inc. boosted its position in Freshpet by 40.8% during the second quarter. Ethic Inc. now owns 3,690 shares of the company’s stock worth $252,000 after purchasing an additional 1,069 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in Freshpet by 9.2% in the second quarter. AlphaQuest LLC now owns 3,556 shares of the company’s stock valued at $242,000 after purchasing an additional 300 shares during the period.

Freshpet Stock Up 2.0%

Shares of FRPT opened at $81.26 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.61 and a current ratio of 5.54. Freshpet, Inc. has a 1 year low of $46.76 and a 1 year high of $111.62. The stock has a market capitalization of $3.99 billion, a PE ratio of 31.62, a P/E/G ratio of 2.44 and a beta of 1.72. The company’s 50-day simple moving average is $67.80 and its 200-day simple moving average is $60.04.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The business had revenue of $285.23 million for the quarter, compared to analyst estimates of $285.66 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FRPT shares. Robert W. Baird reduced their target price on Freshpet from $100.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Benchmark increased their price objective on Freshpet from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America raised their target price on shares of Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Weiss Ratings upgraded Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on Freshpet from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.47.

Insider Transactions at Freshpet

In related news, President Scott James Morris sold 5,142 shares of Freshpet stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $62.33, for a total value of $320,500.86. Following the completion of the transaction, the president owned 30,858 shares in the company, valued at $1,923,379.14. The trade was a 14.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.43% of the stock is owned by corporate insiders.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.