Freshpet, Inc. (NASDAQ:FRPT) Holdings Lifted by Wealth Alliance

Wealth Alliance grew its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 15.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,966 shares of the company’s stock after buying an additional 397 shares during the period. Wealth Alliance’s holdings in Freshpet were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FRPT. Axxcess Wealth Management LLC bought a new stake in Freshpet during the 1st quarter valued at $811,000. Sei Investments Co. increased its holdings in shares of Freshpet by 4.4% during the first quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock valued at $28,852,000 after purchasing an additional 10,456 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Freshpet by 53.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock valued at $16,151,000 after purchasing an additional 48,401 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in Freshpet by 74.8% in the fourth quarter. Alberta Investment Management Corp now owns 20,772 shares of the company’s stock worth $1,802,000 after purchasing an additional 8,889 shares during the period. Finally, Johnson Financial Group Inc. bought a new position in Freshpet in the 4th quarter valued at about $29,000.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Freshpet in a research note on Thursday, May 23rd. They issued a “buy” rating and a $150.00 price target for the company. Redburn Atlantic raised Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a research note on Thursday, May 23rd. Wells Fargo & Company boosted their price objective on Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Piper Sandler restated an “overweight” rating and issued a $150.00 price objective on shares of Freshpet in a report on Tuesday, July 2nd. Finally, Citigroup lifted their target price on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.87.

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 directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is currently owned by insiders.

Freshpet Price Performance

FRPT stock opened at $141.24 on Friday. Freshpet, Inc. has a one year low of $54.60 and a one year high of $144.38. The firm has a 50-day moving average of $130.08 and a two-hundred day moving average of $123.26. The firm has a market capitalization of $6.84 billion, a PE ratio of 784.67 and a beta of 1.39. The company has a current ratio of 4.50, a quick ratio of 3.69 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) EPS for the quarter, beating 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 business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $230.99 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. On average, analysts forecast that Freshpet, Inc. will post 0.72 earnings per share for the current year.

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.