Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC reduced its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,269 shares of the company’s stock after selling 164 shares during the quarter. Procyon Advisors LLC’s holdings in Freshpet were worth $310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Freshpet by 4.4% in the 1st quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock valued at $28,852,000 after purchasing an additional 10,456 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of Freshpet during the first quarter worth approximately $811,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Freshpet by 53.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 139,398 shares of the company’s stock valued at $16,151,000 after acquiring an additional 48,401 shares during the period. SG Americas Securities LLC purchased a new stake in Freshpet in the 2nd quarter valued at $3,964,000. Finally, Duality Advisers LP acquired a new stake in Freshpet during the 1st quarter worth $854,000.

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 shares were sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FRPT. Robert W. Baird upped their target price on shares of Freshpet from $140.00 to $157.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Bank of America increased their price objective on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer boosted their target price on Freshpet from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price target on shares of Freshpet in a report on Tuesday, July 2nd. Finally, Benchmark restated a “buy” rating and set a $150.00 price objective on shares of Freshpet in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $144.53.

Freshpet Trading Down 1.4 %

Shares of Freshpet stock opened at $142.06 on Thursday. The company has a 50-day moving average of $136.52 and a two-hundred day moving average of $126.86. The stock has a market cap of $6.88 billion, a PE ratio of 789.22 and a beta of 1.39. The company has a current ratio of 4.50, a quick ratio of 3.69 and a debt-to-equity ratio of 0.42. Freshpet, Inc. has a 12-month low of $54.60 and a 12-month high of $145.68.

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

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.