Freshpet, Inc. (NASDAQ:FRPT) Stock Position Reduced by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its position in Freshpet, Inc. (NASDAQ:FRPT) by 41.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,122 shares of the company’s stock after selling 2,231 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Freshpet were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after acquiring an additional 108 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Freshpet by 13.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,305 shares of the company’s stock worth $169,000 after purchasing an additional 159 shares during the last quarter. Amalgamated Bank grew its stake in Freshpet by 6.7% during the 2nd quarter. Amalgamated Bank now owns 2,740 shares of the company’s stock worth $355,000 after buying an additional 171 shares during the last quarter. CWM LLC grew its stake in Freshpet by 65.9% during the 2nd quarter. CWM LLC now owns 496 shares of the company’s stock worth $64,000 after buying an additional 197 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Freshpet in the third quarter worth $29,000.

Analyst Ratings Changes

FRPT has been the topic of a number of analyst reports. Oppenheimer increased their price objective on shares of Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $150.00 price target on shares of Freshpet in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Robert W. Baird increased their price objective on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Truist Financial lifted their target price on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Freshpet presently has a consensus rating of “Moderate Buy” and an average target price of $157.80.

Insiders Place Their Bets

In related news, insider Thembeka Machaba sold 2,500 shares of Freshpet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Freshpet Stock Performance

Shares of FRPT opened at $156.57 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The stock has a market capitalization of $7.60 billion, a P/E ratio of 175.92 and a beta of 1.39. Freshpet, Inc. has a 12-month low of $68.22 and a 12-month high of $159.12. The firm’s 50 day moving average is $141.99 and its 200-day moving average is $133.12.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. Freshpet’s revenue for the quarter was up 26.3% compared to the same quarter last year. Equities research analysts anticipate that Freshpet, Inc. will post 0.87 EPS 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.