Quarry LP Grows Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Quarry LP raised its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 275.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 439 shares of the company’s stock after purchasing an additional 322 shares during the period. Quarry LP’s holdings in Freshpet were worth $57,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Freshpet by 100.8% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after purchasing an additional 132 shares during the period. ORG Partners LLC purchased a new stake in Freshpet in the 2nd quarter worth $32,000. Whittier Trust Co. bought a new stake in Freshpet during the first quarter valued at about $41,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Freshpet by 3,670.0% in the second 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 in the last quarter. Finally, CWM LLC boosted its stake in shares of Freshpet by 65.9% in the second quarter. CWM LLC now owns 496 shares of the company’s stock worth $64,000 after acquiring an additional 197 shares during the period.

Freshpet Stock Up 4.5 %

Shares of NASDAQ:FRPT opened at $142.09 on Friday. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 789.39 and a beta of 1.39. Freshpet, Inc. has a 12 month low of $54.60 and a 12 month high of $144.38. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $133.95 and a 200 day moving average price of $125.35.

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

Analysts Set New Price Targets

FRPT has been the topic of several recent analyst reports. Bank of America lifted their target price on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Piper Sandler restated an “overweight” rating and set a $150.00 target price on shares of Freshpet in a research report on Tuesday, July 2nd. Robert W. Baird raised their target price on shares of Freshpet from $140.00 to $157.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Citigroup boosted their price target on shares of Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.87.

Insider Buying and Selling

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the business’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 transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.60% of the stock is owned by corporate insiders.

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.