Freshpet, Inc. (NASDAQ:FRPT) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of Freshpet, Inc. (NASDAQ:FRPT – Get Rating) by 681.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 50,858 shares of the company’s stock after purchasing an additional 44,354 shares during the quarter. HighTower Advisors LLC’s holdings in Freshpet were worth $2,668,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its position in shares of Freshpet by 25.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,421 shares of the company’s stock worth $54,000 after acquiring an additional 288 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Freshpet by 873.8% in the first quarter. Parkside Financial Bank & Trust now owns 818 shares of the company’s stock worth $84,000 after acquiring an additional 734 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Freshpet by 206.8% in the third quarter. Rockefeller Capital Management L.P. now owns 1,905 shares of the company’s stock worth $95,000 after acquiring an additional 1,284 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Freshpet during the first quarter valued at approximately $143,000. Finally, Sigma Planning Corp acquired a new position in Freshpet during the fourth quarter valued at approximately $203,000.

Freshpet Stock Up 2.0 %

Shares of NASDAQ:FRPT opened at $66.10 on Tuesday. The company has a current ratio of 9.21, a quick ratio of 8.02 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $65.09 and a 200 day simple moving average of $62.39. The firm has a market cap of $3.18 billion, a PE ratio of -46.55 and a beta of 0.97. Freshpet, Inc. has a 12-month low of $36.02 and a 12-month high of $73.48.

Freshpet (NASDAQ:FRPT – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). The company had revenue of $167.50 million during the quarter, compared to the consensus estimate of $166.97 million. Freshpet had a negative return on equity of 6.60% and a negative net margin of 10.58%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. On average, equities research analysts anticipate that Freshpet, Inc. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other Freshpet news, Director Cathal Walsh sold 6,277 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $70.10, for a total transaction of $440,017.70. Following the completion of the sale, the director now owns 5,234 shares in the company, valued at $366,903.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on FRPT. Robert W. Baird lifted their price target on shares of Freshpet from $75.00 to $80.00 in a research report on Tuesday, May 9th. Benchmark reaffirmed a “buy” rating and set a $100.00 price target on shares of Freshpet in a research report on Tuesday, February 28th. Truist Financial lifted their price target on shares of Freshpet from $40.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, February 28th. Stephens lifted their price objective on shares of Freshpet from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, February 28th. Finally, Credit Suisse Group lifted their price objective on shares of Freshpet from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, February 28th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.31.

Freshpet Company Profile

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Freshpet, Inc engages in manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. Its products are blends of fresh meats, vegetables and fruits farmed locally and made at Freshpet kitchens. Its products include Deli Fresh Grain Free Chicken Recipe for Dogs, Joy Turkey and Apple Bites Treats, Nature’s Fresh Grain Free Chicken Recipe for Cats, and Vital Grain Free Chicken and Ocean Whitefish Recipe for Cats.