Quest Partners LLC Decreases Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Quest Partners LLC trimmed its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 13.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,480 shares of the company’s stock after selling 229 shares during the quarter. Quest Partners LLC’s holdings in Freshpet were worth $202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FRPT. ORG Wealth Partners LLC purchased a new position in Freshpet during the third quarter valued at $29,000. ORG Partners LLC purchased a new position in Freshpet during the second quarter valued at $32,000. GAMMA Investing LLC lifted its holdings in Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Freshpet by 3,670.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after buying an additional 367 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Freshpet in the second quarter worth about $52,000.

Freshpet Price Performance

Shares of FRPT opened at $153.24 on Thursday. Freshpet, Inc. has a 1-year low of $68.22 and a 1-year high of $160.91. The stock has a market cap of $7.44 billion, a PE ratio of 175.19 and a beta of 1.39. The firm has a 50-day simple moving average of $143.27 and a two-hundred day simple moving average of $134.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The business had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same period last year, the business earned ($0.15) earnings per share. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, analysts forecast that Freshpet, Inc. will post 0.87 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FRPT. Benchmark reissued 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. raised their price target on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Truist Financial raised their price target on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. TD Cowen raised their price target on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer raised their price target on shares of Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.80.

Insider Buying and Selling at Freshpet

In related news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total value of $790,650.00. Following the completion of the transaction, the president now owns 122,380 shares in the company, valued at approximately $19,351,949.40. The trade was a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thembeka Machaba sold 2,500 shares of Freshpet stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The disclosure for this sale can be found here. Insiders sold a total of 9,678 shares of company stock worth $1,480,217 over the last three months. Insiders own 3.70% of the company’s stock.

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.