Vanguard Group Inc. Sells 69,376 Shares of Freshpet, Inc. $FRPT

Vanguard Group Inc. reduced its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,153,334 shares of the company’s stock after selling 69,376 shares during the period. Vanguard Group Inc. owned approximately 10.56% of Freshpet worth $284,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wasatch Advisors LP raised its stake in shares of Freshpet by 41.0% in the second quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock valued at $260,921,000 after purchasing an additional 1,116,217 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Freshpet by 41.5% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,568,954 shares of the company’s stock valued at $174,586,000 after purchasing an additional 753,070 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Freshpet by 278.5% during the second quarter. AQR Capital Management LLC now owns 859,981 shares of the company’s stock worth $58,444,000 after purchasing an additional 632,756 shares during the last quarter. Engaged Capital LLC bought a new stake in shares of Freshpet during the second quarter worth $42,076,000. Finally, Norges Bank bought a new stake in Freshpet during the 2nd quarter worth about $38,658,000.

Freshpet Trading Up 3.9%

Freshpet stock opened at $84.45 on Friday. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 2.58 and a beta of 1.72. The firm has a 50-day moving average of $68.24 and a 200-day moving average of $60.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.61. Freshpet, Inc. has a one year low of $46.76 and a one year high of $109.39.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. The company had revenue of $285.23 million for the quarter, compared to analysts’ expectations of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. On average, equities analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Scott James Morris sold 5,142 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $62.33, for a total transaction of $320,500.86. Following the completion of the sale, the president owned 30,858 shares in the company, valued at approximately $1,923,379.14. This trade represents a 14.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on FRPT shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $56.00 price objective on shares of Freshpet in a report on Tuesday, November 4th. Morgan Stanley raised shares of Freshpet from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $71.00 to $90.00 in a research note on Tuesday. Weiss Ratings raised Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, December 29th. Benchmark boosted their target price on Freshpet from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Freshpet from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $76.47.

Freshpet Company 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.