Point72 Asset Management L.P. Cuts Stock Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Point72 Asset Management L.P. reduced its stake in Freshpet, Inc. (NASDAQ:FRPT) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,737 shares of the company’s stock after selling 5,789 shares during the period. Point72 Asset Management L.P. owned approximately 0.10% of Freshpet worth $6,177,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $30,000 after purchasing an additional 132 shares during the last quarter. ORG Partners LLC purchased a new position in Freshpet during the 2nd quarter valued at approximately $32,000. Quarry LP bought a new stake in Freshpet in the 4th quarter worth approximately $40,000. Whittier Trust Co. purchased a new stake in shares of Freshpet during the 1st quarter worth approximately $41,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after acquiring an additional 367 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup upped their price target on shares of Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. TD Cowen upped their target price on shares of Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price target on Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Wells Fargo & Company boosted their price objective on Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Bank of America raised their price objective on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Freshpet currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.87.

Freshpet Stock Performance

Shares of Freshpet stock opened at $135.51 on Wednesday. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $132.37 and its two-hundred day moving average is $124.78. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $144.38. The company has a market capitalization of $6.56 billion, a PE ratio of 754.00 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a net margin of 2.86% and a return on equity of 1.78%. The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $230.99 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. As a group, analysts expect that Freshpet, Inc. will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction that occurred 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 owns 86,039 shares of the company’s stock, valued at $12,046,320.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.60% 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.