Nicholas Investment Partners LP Grows Position in Freshpet, Inc. (NASDAQ:FRPT)

Nicholas Investment Partners LP raised its position in Freshpet, Inc. (NASDAQ:FRPT) by 14.9% in the second quarter, Holdings Channel reports. The fund owned 57,864 shares of the company’s stock after buying an additional 7,482 shares during the period. Nicholas Investment Partners LP’s holdings in Freshpet were worth $7,487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in Freshpet in the fourth quarter valued at $29,000. GAMMA Investing LLC increased its holdings in shares of Freshpet by 100.8% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after acquiring an additional 132 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Freshpet during the 2nd quarter worth about $32,000. Blue Bell Private Wealth Management LLC purchased a new stake in Freshpet during the first quarter worth approximately $36,000. Finally, Quarry LP acquired a new position in Freshpet in the fourth quarter valued at approximately $40,000.

Freshpet Stock Up 1.8 %

Shares of Freshpet stock opened at $137.62 on Thursday. Freshpet, Inc. has a one year low of $54.60 and a one year high of $143.06. The company has a market cap of $6.67 billion, a P/E ratio of 764.56 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. The firm has a fifty day moving average of $128.75 and a two-hundred day moving average of $121.77.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.06. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. During the same period in the prior year, the company posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, analysts forecast that Freshpet, Inc. will post 0.7 earnings per share for the current year.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

FRPT has been the topic of a number of research analyst reports. Oppenheimer raised their price objective on shares of Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their price target on shares of Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Bank of America raised their price objective on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company boosted their target price on Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Benchmark restated a “buy” rating and set a $150.00 price target on shares of Freshpet in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.87.

About Freshpet

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.