Quest Partners LLC Acquires New Stake in Freshpet, Inc. (NASDAQ:FRPT)

Quest Partners LLC acquired a new stake in Freshpet, Inc. (NASDAQ:FRPT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,709 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors have also bought and sold shares of FRPT. Norges Bank bought a new position in shares of Freshpet in the fourth quarter worth $40,327,000. Public Employees Retirement Association of Colorado increased its holdings in shares of Freshpet by 3,434.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock worth $19,635,000 after purchasing an additional 219,913 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of Freshpet in the first quarter worth $17,845,000. Verition Fund Management LLC bought a new position in shares of Freshpet in the fourth quarter worth $12,395,000. Finally, Franklin Resources Inc. increased its holdings in shares of Freshpet by 7.5% in the fourth quarter. Franklin Resources Inc. now owns 1,689,745 shares of the company’s stock worth $146,602,000 after purchasing an additional 117,864 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $150.00 price target on shares of Freshpet in a report on Wednesday, August 7th. Robert W. Baird upped their target price on shares of Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Freshpet in a research report on Thursday, May 23rd. They issued a “buy” rating and a $150.00 target price for the company. Bank of America upped their target price on shares of Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $150.00 target price on shares of Freshpet in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Freshpet currently has a consensus rating of “Moderate Buy” and an average price target of $142.87.

Freshpet Price Performance

NASDAQ:FRPT opened at $139.89 on Friday. The business’s 50-day simple moving average is $129.15 and its two-hundred day simple moving average is $122.34. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $143.06. The stock has a market cap of $6.78 billion, a PE ratio of 777.21 and a beta of 1.39. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42.

Freshpet (NASDAQ:FRPT) last released its earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.06. The firm had revenue of $235.30 million for the quarter, compared to the consensus estimate of $230.99 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. As a group, analysts forecast that Freshpet, Inc. will post 0.72 EPS for the current fiscal year.

Insider Activity

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.60% of the company’s stock.

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.