Commerce Bank Invests $3.03 Million in Freshpet, Inc. $FRPT

Commerce Bank acquired a new stake in shares of Freshpet, Inc. (NASDAQ:FRPT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 51,253 shares of the company’s stock, valued at approximately $3,030,000.

A number of other large investors also recently bought and sold shares of FRPT. William Blair Investment Management LLC purchased a new stake in Freshpet during the second quarter worth $107,066,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Freshpet during the second quarter valued at about $5,977,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Freshpet in the 2nd quarter valued at about $2,064,000. Trillium Asset Management LLC bought a new position in shares of Freshpet during the 2nd quarter worth approximately $2,255,000. Finally, Western Standard LLC purchased a new stake in Freshpet during the second quarter valued at approximately $7,526,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FRPT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $70.00 price target on shares of Freshpet in a research report on Thursday, August 6th. DA Davidson decreased their price target on Freshpet from $101.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Piper Sandler reissued an “overweight” rating on shares of Freshpet in a report on Tuesday, August 11th. Wall Street Zen upgraded Freshpet from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, TD Cowen upped their price objective on shares of Freshpet from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.31.

Insiders Place Their Bets

In related news, CEO William B. Cyr sold 41,022 shares of Freshpet stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $72.86, for a total value of $2,988,862.92. Following the completion of the transaction, the chief executive officer owned 267,152 shares in the company, valued at $19,464,694.72. The trade was a 13.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Freshpet Price Performance

NASDAQ FRPT opened at $76.55 on Tuesday. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 20.14 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.05 and a quick ratio of 5.03. The stock’s fifty day moving average price is $61.02 and its 200 day moving average price is $62.77. Freshpet, Inc. has a 1 year low of $46.45 and a 1 year high of $86.00.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.22 by $0.17. The business had revenue of $305.59 million for the quarter, compared to the consensus estimate of $292.35 million. Freshpet had a net margin of 17.28% and a return on equity of 5.97%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities research analysts forecast that Freshpet, Inc. will post 1.73 earnings per share for the current year.

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.