Emerald Advisers LLC Has $28.34 Million Stock Holdings in Freshpet, Inc. $FRPT

Emerald Advisers LLC lifted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 15.2% in the first quarter, Holdings Channel.com reports. The fund owned 480,703 shares of the company’s stock after acquiring an additional 63,303 shares during the quarter. Emerald Advisers LLC’s holdings in Freshpet were worth $28,342,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Freshpet by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 236,763 shares of the company’s stock worth $13,960,000 after purchasing an additional 4,996 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Freshpet by 152.0% in the 1st quarter. Fifth Third Bancorp now owns 15,747 shares of the company’s stock worth $928,000 after purchasing an additional 9,497 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its stake in shares of Freshpet by 92.0% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 12,120 shares of the company’s stock valued at $715,000 after purchasing an additional 5,809 shares during the last quarter. Keybank National Association OH boosted its stake in shares of Freshpet by 76.8% in the 1st quarter. Keybank National Association OH now owns 12,734 shares of the company’s stock valued at $751,000 after purchasing an additional 5,530 shares during the last quarter. Finally, Fulton Bank N.A. bought a new stake in shares of Freshpet in the 1st quarter valued at $403,000.

Insiders Place Their Bets

In other news, CEO William B. Cyr sold 42,495 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $51.03, for a total transaction of $2,168,519.85. Following the transaction, the chief executive officer owned 224,459 shares in the company, valued at approximately $11,454,142.77. This represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig D. Steeneck acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $47.83 per share, for a total transaction of $95,660.00. Following the transaction, the director directly owned 37,500 shares in the company, valued at approximately $1,793,625. This represents a 5.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. Company insiders own 4.30% of the company’s stock.

Freshpet Stock Performance

NASDAQ:FRPT opened at $55.92 on Tuesday. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a twelve month low of $46.45 and a twelve month high of $86.00. The company has a fifty day moving average of $52.93 and a 200-day moving average of $62.93. The firm has a market capitalization of $2.75 billion, a P/E ratio of 14.95 and a beta of 1.60.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FRPT. Weiss Ratings downgraded shares of Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Wells Fargo & Company cut their price target on shares of Freshpet from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Stifel Nicolaus set a $66.00 price target on Freshpet in a report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and issued a $77.00 price objective on shares of Freshpet in a research report on Thursday, May 7th. Finally, Piper Sandler reissued an “overweight” rating on shares of Freshpet in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.25.

Freshpet 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.