Deepwater Asset Management LLC Sells 8,736 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Deepwater Asset Management LLC cut its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,677 shares of the company’s stock after selling 8,736 shares during the period. Freshpet makes up about 5.0% of Deepwater Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Deepwater Asset Management LLC owned about 0.22% of Freshpet worth $13,674,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FRPT. ORG Partners LLC purchased a new stake in shares of Freshpet during the 2nd quarter worth approximately $32,000. GAMMA Investing LLC raised its stake in Freshpet by 100.8% during the first 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. Johnson Financial Group Inc. bought a new position in Freshpet during the fourth quarter valued at $29,000. Whittier Trust Co. purchased a new position in shares of Freshpet in the 1st quarter worth $41,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Freshpet by 3,670.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after buying an additional 367 shares during the last quarter.

Insider Activity

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were 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 $12,046,320.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on FRPT shares. Citigroup lifted their price target on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Bank of America boosted their target price on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. TD Cowen increased their price target on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price objective on shares of Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Oppenheimer increased their target price on shares of Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.87.

Freshpet Trading Up 0.7 %

Shares of NASDAQ FRPT opened at $142.19 on Friday. Freshpet, Inc. has a twelve month low of $54.60 and a twelve month high of $144.38. The firm has a market cap of $6.89 billion, a PE ratio of 789.94 and a beta of 1.39. The business has a fifty day simple moving average of $130.38 and a two-hundred day simple moving average of $123.47. 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 quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $230.99 million. During the same period in the previous year, the company posted ($0.35) earnings per share. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. Analysts expect that Freshpet, Inc. will post 0.72 earnings per share for the current fiscal 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.