Fort Point Capital Partners LLC Trims Position in Freshpet, Inc. $FRPT

Fort Point Capital Partners LLC reduced its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 336,974 shares of the company’s stock after selling 10,898 shares during the quarter. Freshpet accounts for approximately 2.2% of Fort Point Capital Partners LLC’s portfolio, making the stock its 10th largest holding. Fort Point Capital Partners LLC owned about 0.69% of Freshpet worth $18,571,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Segall Bryant & Hamill LLC boosted its stake in shares of Freshpet by 20.4% during the second quarter. Segall Bryant & Hamill LLC now owns 75,184 shares of the company’s stock valued at $5,110,000 after purchasing an additional 12,764 shares during the period. ING Groep NV bought a new position in shares of Freshpet in the third quarter worth approximately $6,354,000. Western Standard LLC purchased a new position in shares of Freshpet in the third quarter worth $3,527,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new position in shares of Freshpet in the second quarter worth $1,257,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Freshpet during the 2nd quarter valued at $512,000.

Freshpet Stock Down 1.8%

Shares of Freshpet stock opened at $76.60 on Monday. The company has a current ratio of 5.54, a quick ratio of 4.57 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $72.17 and its two-hundred day simple moving average is $61.67. The company has a market cap of $3.76 billion, a P/E ratio of 29.81, a PEG ratio of 2.34 and a beta of 1.66. Freshpet, Inc. has a 12-month low of $46.76 and a 12-month high of $91.25.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, February 23rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.43 by $0.21. The firm had revenue of $285.23 million during the quarter, compared to analysts’ expectations of $285.66 million. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. Research analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FRPT. Weiss Ratings raised shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on shares of Freshpet from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Stifel Nicolaus increased their target price on shares of Freshpet from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. DA Davidson set a $98.00 target price on Freshpet in a research note on Wednesday, February 25th. Finally, Piper Sandler boosted their price target on Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Freshpet presently has a consensus rating of “Hold” and an average price target of $76.47.

Freshpet Profile

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.