Fred Alger Management LLC takes position in Freshpet, Inc. (NASDAQ:FRPT)

Vaseline2 weeks ago

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Fred Alger Management LLC acquired a new position in shares of Freshpet, Inc. (NASDAQ:FRPT – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,381 shares of the company’s stock, valued at approximately $308,000.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in Freshpet in the 4th quarter valued at $40,327,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Freshpet by 3,434.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock worth $19,635,000 after acquired an additional 219,913 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Freshpet in the 1st quarter worth about $17,845,000. Verition Fund Management LLC purchased a new stake in shares of Freshpet in the 4th quarter valued at approximately $12,395,000. Finally, M&G Plc acquired a new stake in shares of Freshpet in the second quarter valued at about $8,892,000.

Freshpet stock performance

Shares of FRPT stock opened at $135.74 on Friday. Freshpet, Inc. has a one year low of $54.60 and a one year high of $144.38. The company has a 50 day moving average of $132.03 and a two hundred day moving average of $124.39. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 754.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50, and a quick ratio of 3.69.

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Freshpet (NASDAQ:FRPT – Get Your Free Report ) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $230.99 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The company’s revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. On average, equities research analysts expect that Freshpet, Inc. to post 0.72 earnings per share for the current year.

The Wall Street analyst weighs in

FRPT has been the subject of several analyst reports. Bank of America boosted their price objective on shares of Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Piper Sandler restated an “overweight” rating and issued a $150.00 price objective on shares of Freshpet in a report on Tuesday, July 2nd. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a report on Wednesday, August 7th. Finally, Robert W. Baird boosted their price objective on shares of Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Freshpet has an average rating of “Moderate Buy” and an average price target of $142.87, based on data from MarketBeat.

Get the latest research report on FRPT

Insider trading at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 3.60% of shares are held by insiders.

Freshpet Company Profile

(Free Report)

Freshpet, Inc, together with its subsidiaries, manufactures, distributes and markets natural fresh foods and treats for dogs and cats in the United States, Canada and Europe. Sells dog food, cat food and dog treats under the Freshpet brand; and Dognation and Dog Joy labels through various retail classes, including grocery, tableware, club, pet specialty and natural, as well as online.