MGO One Seven LLC Raises Stake in Freshpet, Inc. (NASDAQ:FRPT)

MGO One Seven LLC lifted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 49.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,407 shares of the company’s stock after acquiring an additional 4,784 shares during the period. MGO One Seven LLC’s holdings in Freshpet were worth $1,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FRPT. Vanguard Group Inc. increased its position in Freshpet by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock worth $540,650,000 after purchasing an additional 13,709 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in Freshpet by 2.9% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,709,572 shares of the company’s stock valued at $148,322,000 after acquiring an additional 47,862 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Freshpet by 7.5% in the fourth quarter. Franklin Resources Inc. now owns 1,689,745 shares of the company’s stock valued at $146,602,000 after acquiring an additional 117,864 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Freshpet by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 828,029 shares of the company’s stock worth $71,841,000 after acquiring an additional 54,656 shares during the period. Finally, Norges Bank acquired a new stake in Freshpet during the fourth quarter worth $40,327,000.

Insider Buying and Selling

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FRPT. Piper Sandler reiterated an “overweight” rating and set a $150.00 price target on shares of Freshpet in a report on Tuesday, July 2nd. Redburn Atlantic raised shares of Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Thursday, May 23rd. Oppenheimer boosted their price target on shares of Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. increased their price objective on shares of Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Finally, TD Cowen boosted their target price on Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Freshpet presently has a consensus rating of “Moderate Buy” and an average target price of $142.87.

Freshpet Trading Up 2.4 %

FRPT opened at $140.93 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.69 and a current ratio of 4.50. Freshpet, Inc. has a one year low of $54.60 and a one year high of $143.06. The company has a market cap of $6.83 billion, a P/E ratio of 782.94 and a beta of 1.39. The business’s 50-day simple moving average is $129.02 and its 200-day simple moving average is $122.22.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.06. The company had revenue of $235.30 million for the quarter, compared to analyst estimates of $230.99 million. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm’s revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) earnings per share. As a group, equities research analysts expect that Freshpet, Inc. will post 0.7 EPS for the current fiscal year.

Freshpet Company 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.