Freshpet, Inc. (NASDAQ:FRPT) Stock Holdings Lowered by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC cut its position in Freshpet, Inc. (NASDAQ:FRPT) by 25.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,850 shares of the company’s stock after selling 7,090 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Freshpet were worth $2,852,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FRPT. ORG Wealth Partners LLC bought a new position in Freshpet in the 3rd quarter valued at about $29,000. ORG Partners LLC acquired a new position in shares of Freshpet during the second quarter valued at approximately $32,000. GAMMA Investing LLC raised its holdings in Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after purchasing an additional 108 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Freshpet by 3,670.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after buying an additional 367 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Freshpet in the 2nd quarter valued at about $52,000.

Analysts Set New Price Targets

FRPT has been the subject of a number of research reports. DA Davidson raised their target price on shares of Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. TD Cowen raised their target price on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and an average price target of $156.13.

Insider Transactions at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now owns 86,039 shares in the company, valued at approximately $12,046,320.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Thembeka Machaba sold 2,500 shares of Freshpet stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Freshpet Stock Performance

Shares of FRPT opened at $153.73 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. Freshpet, Inc. has a one year low of $68.14 and a one year high of $159.12. The company’s fifty day moving average price is $140.43 and its 200 day moving average price is $131.55. The company has a market capitalization of $7.46 billion, a PE ratio of 172.73 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping 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 business had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same period in the previous year, the company posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, analysts expect that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Freshpet Company 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.