Riverbridge Partners LLC Has $128.89 Million Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Riverbridge Partners LLC lessened its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 870,246 shares of the company’s stock after selling 69,241 shares during the quarter. Freshpet accounts for approximately 1.8% of Riverbridge Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Riverbridge Partners LLC’s holdings in Freshpet were worth $128,892,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Freshpet by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,887 shares of the company’s stock worth $805,000 after buying an additional 75 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Freshpet by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $85,000 after acquiring an additional 92 shares during the last quarter. GLOBALT Investments LLC GA raised its holdings in Freshpet by 3.2% during the third quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock worth $490,000 after acquiring an additional 111 shares in the last quarter. LVW Advisors LLC boosted its position in Freshpet by 5.9% during the fourth quarter. LVW Advisors LLC now owns 2,260 shares of the company’s stock valued at $335,000 after purchasing an additional 125 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Freshpet by 23.0% during the third quarter. First Horizon Advisors Inc. now owns 739 shares of the company’s stock valued at $101,000 after purchasing an additional 138 shares during the last quarter.

Freshpet Stock Performance

NASDAQ:FRPT opened at $158.67 on Thursday. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $150.04 and a 200 day simple moving average of $139.98. Freshpet, Inc. has a 1-year low of $84.02 and a 1-year high of $160.91. The stock has a market cap of $7.70 billion, a P/E ratio of 178.28 and a beta of 1.41.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. Freshpet’s quarterly revenue was up 26.3% on a year-over-year basis. Research analysts anticipate that Freshpet, Inc. will post 0.9 earnings per share for the current year.

Insider Buying and Selling at Freshpet

In other Freshpet news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total value of $790,650.00. Following the completion of the transaction, the president now directly owns 122,380 shares of the company’s stock, valued at $19,351,949.40. The trade was a 3.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock valued at $1,962,175 in the last quarter. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FRPT. Truist Financial upped their price objective on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Oppenheimer increased their price target on shares of Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. DA Davidson lifted their price objective on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird upped their target price on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.36.

Freshpet Profile

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.