Raymond James & Associates Decreases Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Raymond James & Associates trimmed its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,635 shares of the company’s stock after selling 142 shares during the quarter. Raymond James & Associates’ holdings in Freshpet were worth $1,356,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. RiverPark Advisors LLC purchased a new position in Freshpet in the 3rd quarter worth approximately $28,000. Parkside Financial Bank & Trust lifted its stake in Freshpet by 873.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 818 shares of the company’s stock worth $84,000 after purchasing an additional 734 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Freshpet in the 3rd quarter worth approximately $59,000. Tower Research Capital LLC TRC raised its position in shares of Freshpet by 1,185.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 977 shares of the company’s stock valued at $64,000 after buying an additional 901 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Freshpet during the 1st quarter valued at approximately $143,000.

Freshpet Stock Performance

NASDAQ:FRPT opened at $104.69 on Friday. The company has a fifty day simple moving average of $106.43 and a two-hundred day simple moving average of $85.41. The company has a market cap of $5.06 billion, a price-to-earnings ratio of -147.45 and a beta of 1.23. The company has a quick ratio of 4.08, a current ratio of 4.79 and a debt-to-equity ratio of 0.44. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $117.76.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.09 by $0.22. The business had revenue of $215.40 million during the quarter, compared to the consensus estimate of $204.93 million. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. As a group, equities analysts anticipate that Freshpet, Inc. will post 0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FRPT. Oppenheimer lifted their price target on shares of Freshpet from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on shares of Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and lifted their price target for the company from $120.00 to $135.00 in a research report on Monday, March 11th. Citigroup began coverage on shares of Freshpet in a research report on Thursday, February 1st. They set a “neutral” rating and a $94.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Freshpet has an average rating of “Moderate Buy” and a consensus target price of $107.36.

Insiders Place Their Bets

In other Freshpet news, COO Scott James Morris sold 3,632 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $109.86, for a total value of $399,011.52. Following the completion of the transaction, the chief operating officer now owns 122,380 shares in the company, valued at $13,444,666.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Stephen Macchiaverna sold 7,130 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the transaction, the executive vice president now owns 85,056 shares in the company, valued at $9,231,127.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Scott James Morris sold 3,632 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $109.86, for a total transaction of $399,011.52. Following the transaction, the chief operating officer now owns 122,380 shares of the company’s stock, valued at approximately $13,444,666.80. The disclosure for this sale can be found here. Insiders sold a total of 15,762 shares of company stock worth $1,737,280 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Freshpet 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.