Public Employees Retirement System of Ohio Takes Position in Freshpet, Inc. $FRPT

Public Employees Retirement System of Ohio purchased a new position in Freshpet, Inc. (NASDAQ:FRPT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,932 shares of the company’s stock, valued at approximately $824,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wasatch Advisors LP lifted its holdings in Freshpet by 5.2% during the first quarter. Wasatch Advisors LP now owns 4,141,437 shares of the company’s stock worth $244,179,000 after buying an additional 204,128 shares during the period. William Blair Investment Management LLC boosted its position in Freshpet by 30.9% during the 4th quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock valued at $118,982,000 after acquiring an additional 461,444 shares in the last quarter. Capital World Investors increased its holdings in shares of Freshpet by 7.1% in the 4th quarter. Capital World Investors now owns 1,587,691 shares of the company’s stock valued at $96,738,000 after acquiring an additional 104,913 shares during the period. Armistice Capital LLC raised its position in shares of Freshpet by 5.0% in the 4th quarter. Armistice Capital LLC now owns 1,296,000 shares of the company’s stock worth $78,965,000 after acquiring an additional 61,198 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of Freshpet by 122.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,197,317 shares of the company’s stock worth $72,953,000 after acquiring an additional 658,114 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FRPT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $70.00 price target on shares of Freshpet in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Freshpet from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Stifel Nicolaus upped their price target on Freshpet from $66.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $72.00 target price (down from $77.00) on shares of Freshpet in a research report on Thursday, August 6th. Finally, DA Davidson decreased their price target on Freshpet from $101.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.31.

Freshpet Price Performance

Shares of FRPT opened at $67.21 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.05 and a quick ratio of 5.03. The company’s fifty day moving average price is $64.68 and its 200-day moving average price is $62.86. Freshpet, Inc. has a 1-year low of $46.45 and a 1-year high of $86.00. The firm has a market capitalization of $3.30 billion, a PE ratio of 17.69 and a beta of 1.66.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The business had revenue of $305.59 million for the quarter, compared to analyst estimates of $292.35 million. During the same period in the prior year, the company earned $0.33 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. On average, equities research analysts predict that Freshpet, Inc. will post 1.73 EPS for the current year.

Insider Transactions at Freshpet

In other Freshpet news, CEO William Cyr sold 41,022 shares of Freshpet stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $72.86, for a total transaction of $2,988,862.92. Following the completion of the sale, the chief executive officer directly owned 267,152 shares in the company, valued at approximately $19,464,694.72. The trade was a 13.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 171,636 shares of company stock worth $12,754,864. Company insiders own 4.30% of the company’s stock.

Freshpet Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.