Divisadero Street Capital Management LP Makes New Investment in Freshpet, Inc. (NASDAQ:FRPT)

Divisadero Street Capital Management LP purchased a new stake in Freshpet, Inc. (NASDAQ:FRPT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 60,458 shares of the company’s stock, valued at approximately $7,823,000. Freshpet comprises approximately 1.2% of Divisadero Street Capital Management LP’s investment portfolio, making the stock its 20th largest holding. Divisadero Street Capital Management LP owned approximately 0.12% of Freshpet as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Johnson Financial Group Inc. bought a new position in Freshpet in the fourth quarter valued at about $29,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 132 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Freshpet in the 2nd quarter valued at approximately $32,000. Quarry LP bought a new stake in shares of Freshpet during the 4th quarter valued at approximately $40,000. Finally, Whittier Trust Co. acquired a new position in Freshpet during the 1st quarter worth approximately $41,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Freshpet in a research note on Thursday, May 23rd. They set a “buy” rating and a $150.00 target price on the stock. Robert W. Baird boosted their price objective on Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. TD Cowen increased their target price on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup boosted their price target on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. upped their price objective on Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.87.

Freshpet Trading Up 0.2 %

FRPT opened at $141.24 on Friday. Freshpet, Inc. has a twelve month low of $54.60 and a twelve month high of $144.38. The company has a fifty day moving average of $130.08 and a 200-day moving average of $123.26. The stock has a market cap of $6.84 billion, a PE ratio of 784.67 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 issued its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $230.99 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The business’s revenue was up 28.4% compared to the same quarter last year. During the same period last year, the business posted ($0.35) EPS. On average, sell-side analysts predict that Freshpet, Inc. will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction that occurred 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 directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is currently owned by corporate insiders.

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.