Canada Pension Plan Investment Board Purchases 44,800 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Canada Pension Plan Investment Board raised its position in Freshpet, Inc. (NASDAQ:FRPT) by 1,041.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,100 shares of the company’s stock after buying an additional 44,800 shares during the period. Canada Pension Plan Investment Board owned 0.10% of Freshpet worth $6,353,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. ORG Partners LLC bought a new position in shares of Freshpet in the second quarter valued at approximately $32,000. GAMMA Investing LLC boosted its position in Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $30,000 after purchasing an additional 132 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Freshpet in the 4th quarter valued at $29,000. Whittier Trust Co. purchased a new stake in Freshpet during the first quarter worth about $41,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter.

Freshpet Stock Up 0.3 %

Shares of NASDAQ:FRPT opened at $140.44 on Wednesday. The firm has a fifty day moving average of $130.94 and a 200 day moving average of $124.00. Freshpet, Inc. has a 52-week low of $54.60 and a 52-week high of $144.38. 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 market capitalization of $6.80 billion, a PE ratio of 780.22 and a beta of 1.39.

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

Analyst Ratings Changes

FRPT has been the topic of several research reports. Citigroup boosted their target price on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Piper Sandler reiterated an “overweight” rating and set a $150.00 target price on shares of Freshpet in a research report on Tuesday, July 2nd. Wells Fargo & Company lifted their price objective on shares of Freshpet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Oppenheimer boosted their price objective on Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. Finally, Robert W. Baird lifted their target price on Freshpet from $140.00 to $157.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and an average price target of $142.87.

Insider Activity

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the transaction, the executive vice president now owns 86,039 shares in the company, valued at approximately $12,046,320.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.60% of the stock is owned by corporate insiders.

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.