Ensign Peak Advisors Inc Boosts Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Ensign Peak Advisors Inc raised its stake in Freshpet, Inc. (NASDAQ:FRPT) by 241.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,126 shares of the company’s stock after purchasing an additional 48,160 shares during the quarter. Ensign Peak Advisors Inc owned 0.14% of Freshpet worth $8,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Johnson Financial Group Inc. purchased a new position in Freshpet in the 4th quarter valued at $29,000. GAMMA Investing LLC lifted 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 worth $30,000 after acquiring an additional 132 shares during the period. ORG Partners LLC purchased a new stake in shares of Freshpet in the second quarter valued at about $32,000. Quarry LP acquired a new position in shares of Freshpet during the fourth quarter worth about $40,000. Finally, Whittier Trust Co. purchased a new position in Freshpet during the first quarter worth about $41,000.

Freshpet Stock Up 0.3 %

Shares of NASDAQ:FRPT opened at $140.44 on Wednesday. The company has a market capitalization of $6.80 billion, a P/E ratio of 780.22 and a beta of 1.39. The stock’s fifty day simple moving average is $130.94 and its 200-day simple moving average is $124.00. Freshpet, Inc. has a 52-week low of $54.60 and a 52-week high of $144.38. 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 results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.06. The company had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $230.99 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period last year, the company earned ($0.35) EPS. As a group, equities research analysts forecast that Freshpet, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’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 sale, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FRPT has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of Freshpet in a report on Wednesday, August 7th. Wells Fargo & Company upped their price target 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. TD Cowen raised their price objective on shares of Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, 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. One investment 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. Based on data from MarketBeat.com, Freshpet presently has an average rating of “Moderate Buy” and a consensus price target of $142.87.

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.