Vanguard Group Inc. Sells 69,376 Shares of Freshpet, Inc. $FRPT

Vanguard Group Inc. decreased its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 1.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,153,334 shares of the company’s stock after selling 69,376 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Freshpet worth $284,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State of Wyoming bought a new position in Freshpet in the 2nd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its holdings in Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 472 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Freshpet in the second quarter worth $35,000. Ossiam lifted its stake in shares of Freshpet by 81.1% in the second quarter. Ossiam now owns 509 shares of the company’s stock worth $35,000 after acquiring an additional 228 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Freshpet by 258.9% in the second quarter. Smartleaf Asset Management LLC now owns 542 shares of the company’s stock valued at $37,000 after acquiring an additional 391 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on FRPT. Deutsche Bank Aktiengesellschaft cut shares of Freshpet from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research report on Monday, December 15th. Benchmark increased their price target on Freshpet from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday. Stephens reissued an “overweight” rating and set a $90.00 target price on shares of Freshpet in a research note on Tuesday. Stifel Nicolaus raised their price target on shares of Freshpet from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, TD Cowen set a $60.00 price objective on shares of Freshpet in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Freshpet has an average rating of “Hold” and an average target price of $76.47.

Insider Buying and Selling

In other Freshpet news, President Scott James Morris sold 5,142 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $62.33, for a total value of $320,500.86. Following the sale, the president directly 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 4.43% of the company’s stock.

Freshpet Stock Performance

Shares of FRPT stock opened at $84.45 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.61. The firm has a 50-day moving average of $68.24 and a 200-day moving average of $60.17. Freshpet, Inc. has a one year low of $46.76 and a one year high of $109.39. The company has a market cap of $4.14 billion, a P/E ratio of 32.86, a P/E/G ratio of 2.58 and a beta of 1.72.

Freshpet (NASDAQ:FRPT) last announced its earnings results 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. The firm had revenue of $285.23 million for the quarter, compared to the consensus estimate of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

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.