Vanguard Group Inc. Cuts Position in Freshpet, Inc. (NASDAQ:FRPT)

Vanguard Group Inc. reduced its position in Freshpet, Inc. (NASDAQ:FRPT) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,620,520 shares of the company’s stock after selling 4,686 shares during the period. Vanguard Group Inc. owned approximately 9.58% of Freshpet worth $304,400,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FRPT. Wellington Management Group LLP grew its stake in Freshpet by 5.5% during the third quarter. Wellington Management Group LLP now owns 3,576,014 shares of the company’s stock worth $235,588,000 after buying an additional 185,210 shares during the period. Comerica Bank boosted its position in Freshpet by 58.7% during the 3rd quarter. Comerica Bank now owns 23,173 shares of the company’s stock worth $1,527,000 after purchasing an additional 8,567 shares during the period. Diversified Trust Co increased its holdings in Freshpet by 3.4% in the 3rd quarter. Diversified Trust Co now owns 19,526 shares of the company’s stock valued at $1,286,000 after purchasing an additional 647 shares in the last quarter. JANA Partners Management LP acquired a new stake in Freshpet in the 3rd quarter valued at $214,405,000. Finally, VitalStone Financial LLC purchased a new position in Freshpet in the third quarter valued at about $426,000.

Freshpet Price Performance

Shares of FRPT opened at $115.71 on Thursday. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $116.96. The company has a current ratio of 4.79, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of -162.97 and a beta of 1.23. The stock has a 50 day moving average of $98.75 and a 200-day moving average of $80.71.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.22. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. The firm had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $204.93 million. During the same period last year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. As a group, analysts forecast that Freshpet, Inc. will post 0.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FRPT shares. TheStreet upgraded Freshpet from a “d+” rating to a “c-” rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. increased their price objective on shares of Freshpet from $67.00 to $102.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Piper Sandler boosted their target price on shares of Freshpet from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and raised their price target for the company from $120.00 to $135.00 in a report on Monday, March 11th. Finally, Oppenheimer boosted their price objective on shares of Freshpet from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Freshpet currently has a consensus rating of “Moderate Buy” and an average price target of $105.93.

Insider Activity

In related news, COO Scott James Morris sold 2,500 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $112.02, for a total transaction of $280,050.00. Following the sale, the chief operating officer now owns 122,380 shares in the company, valued at $13,709,007.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Scott James Morris sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $112.02, for a total transaction of $280,050.00. Following the completion of the transaction, the chief operating officer now owns 122,380 shares in the company, valued at approximately $13,709,007.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total value of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The disclosure for this sale can be found here. In the last three months, insiders sold 12,130 shares of company stock valued at $1,338,269. Company insiders own 3.60% 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.