Cynosure Group LLC Purchases Shares of 2,581 Freshpet, Inc. (NASDAQ:FRPT)

Cynosure Group LLC acquired a new stake in Freshpet, Inc. (NASDAQ:FRPT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,581 shares of the company’s stock, valued at approximately $353,000.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Freshpet by 199.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company’s stock worth $11,462,000 after buying an additional 65,868 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after acquiring an additional 108 shares in the last quarter. CWM LLC raised its holdings in shares of Freshpet by 65.9% in the second quarter. CWM LLC now owns 496 shares of the company’s stock valued at $64,000 after purchasing an additional 197 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Freshpet during the second quarter valued at about $3,964,000. Finally, M&G Plc purchased a new position in Freshpet during the second quarter worth about $8,892,000.

Wall Street Analysts Forecast Growth

FRPT has been the subject of several analyst reports. Truist Financial increased their price objective on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Benchmark reiterated a “buy” rating and set a $150.00 price target on shares of Freshpet in a report on Friday, November 1st. StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price target on shares of Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.80.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $153.24 on Friday. The stock’s 50-day simple moving average is $143.52 and its two-hundred day simple moving average is $134.36. Freshpet, Inc. has a twelve month low of $68.22 and a twelve month high of $160.91. The firm has a market capitalization of $7.44 billion, a P/E ratio of 172.18 and a beta of 1.39. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The company had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm’s revenue was up 26.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) EPS. As a group, equities analysts anticipate that Freshpet, Inc. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $158.13, for a total value of $790,650.00. Following the completion of the sale, the president now directly owns 122,380 shares in the company, valued at approximately $19,351,949.40. The trade was a 3.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,678 shares of company stock valued at $1,480,217 over the last 90 days. Insiders own 3.70% of the company’s stock.

About Freshpet

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.