Dimensional Fund Advisors LP Acquires 22,759 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Dimensional Fund Advisors LP boosted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 923,507 shares of the company’s stock after buying an additional 22,759 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.91% of Freshpet worth $119,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ORG Partners LLC bought a new stake in shares of Freshpet during the 2nd quarter valued at $32,000. GAMMA Investing LLC grew its holdings 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 during the period. Johnson Financial Group Inc. purchased a new stake in Freshpet in the fourth quarter worth about $29,000. Whittier Trust Co. bought a new position in shares of Freshpet in the first quarter worth about $41,000. Finally, Quarry LP bought a new position in shares of Freshpet in the fourth quarter worth about $40,000.

Insider Activity

In other Freshpet 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 transaction of $304,941.78. Following the completion of 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. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FRPT shares. TD Cowen increased their target price on shares of Freshpet from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on shares of Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. 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 report on Wednesday, July 10th. Piper Sandler restated an “overweight” rating and issued a $150.00 price objective on shares of Freshpet in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company upped 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. One 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $142.87.

Freshpet Price Performance

FRPT stock opened at $142.19 on Monday. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $144.38. The firm has a market capitalization of $6.89 billion, a P/E ratio of 789.94 and a beta of 1.39. The company has a fifty day simple moving average of $130.38 and a two-hundred day simple moving average of $123.56. 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 announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $230.99 million. During the same quarter last year, the firm earned ($0.35) EPS. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year. Analysts anticipate that Freshpet, Inc. will post 0.72 earnings per share for the current fiscal 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.