Maverick Capital Ltd. Boosts Position in Freshpet, Inc. $FRPT

Maverick Capital Ltd. raised its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 356.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 34,509 shares of the company’s stock after buying an additional 26,948 shares during the quarter. Maverick Capital Ltd.’s holdings in Freshpet were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FRPT. Caitong International Asset Management Co. Ltd raised its holdings in shares of Freshpet by 606.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. Motiv8 Investments LLC acquired a new position in Freshpet during the fourth quarter valued at $28,000. State of Wyoming purchased a new stake in Freshpet in the second quarter valued at $34,000. Signaturefd LLC boosted its holdings in Freshpet by 143.0% in the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after purchasing an additional 296 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 472 shares during the period.

Analyst Ratings Changes

FRPT has been the subject of a number of recent research reports. Stifel Nicolaus set a $66.00 price objective on Freshpet in a research note on Thursday, May 7th. Bank of America lowered their target price on Freshpet from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Wells Fargo & Company dropped their target price on Freshpet from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $63.00 price target on shares of Freshpet in a research report on Thursday, May 7th. Finally, DA Davidson raised Freshpet to a “strong-buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.25.

Insider Transactions at Freshpet

In other Freshpet news, Director Craig D. Steeneck purchased 2,000 shares of Freshpet stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $47.83 per share, with a total value of $95,660.00. Following the acquisition, the director owned 37,500 shares of the company’s stock, valued at $1,793,625. This trade represents a 5.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William B. Cyr sold 42,495 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $51.03, for a total value of $2,168,519.85. Following the completion of the transaction, the chief executive officer directly owned 224,459 shares of the company’s stock, valued at $11,454,142.77. The trade was a 15.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. 4.30% of the stock is owned by company insiders.

Freshpet Stock Up 3.4%

FRPT opened at $59.50 on Tuesday. The company has a fifty day moving average of $53.94 and a two-hundred day moving average of $62.60. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 15.91 and a beta of 1.60. Freshpet, Inc. has a fifty-two week low of $46.45 and a fifty-two week high of $86.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18.

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.