SG Americas Securities LLC Has $2.71 Million Holdings in Freshpet, Inc. $FRPT

SG Americas Securities LLC lessened its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 44.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,970 shares of the company’s stock after selling 36,552 shares during the period. SG Americas Securities LLC’s holdings in Freshpet were worth $2,710,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings 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. Balyasny Asset Management L.P. raised its position in Freshpet by 1,031.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 931,905 shares of the company’s stock valued at $56,781,000 after buying an additional 1,031,905 shares during the last quarter. Capital World Investors raised its position in Freshpet by 151.8% in the 3rd quarter. Capital World Investors now owns 1,482,778 shares of the company’s stock valued at $81,716,000 after buying an additional 893,949 shares during the last quarter. Armistice Capital LLC raised its position in Freshpet by 118.4% in the 3rd quarter. Armistice Capital LLC now owns 1,234,802 shares of the company’s stock valued at $68,050,000 after buying an additional 669,399 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Freshpet by 122.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,197,317 shares of the company’s stock valued at $72,953,000 after acquiring an additional 658,114 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Freshpet from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $66.00 to $68.00 in a research report on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating on shares of Freshpet in a report on Monday, June 15th. Benchmark boosted their price objective on shares of Freshpet from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. DA Davidson increased their target price on shares of Freshpet from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Weiss Ratings downgraded shares of Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.88.

Insiders Place Their Bets

In other Freshpet news, CEO William B. Cyr sold 42,907 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the sale, the chief executive officer directly owned 204,585 shares of the company’s stock, valued at approximately $9,803,713.20. This represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. Insiders own 4.30% of the company’s stock.

Freshpet Stock Performance

FRPT opened at $59.12 on Wednesday. Freshpet, Inc. has a 52-week low of $46.45 and a 52-week high of $86.00. The firm has a market capitalization of $2.91 billion, a PE ratio of 15.81 and a beta of 1.63. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18. The business’s 50-day simple moving average is $54.91 and its 200 day simple moving average is $63.49.

About Freshpet

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.