Driehaus Capital Management LLC Acquires 141,615 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Driehaus Capital Management LLC raised its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 24.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 721,288 shares of the company’s stock after buying an additional 141,615 shares during the period. Freshpet comprises about 0.9% of Driehaus Capital Management LLC’s holdings, making the stock its 24th largest position. Driehaus Capital Management LLC owned approximately 1.49% of Freshpet worth $93,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new position in Freshpet during the 4th quarter valued at about $40,327,000. Corient Private Wealth LLC lifted its stake in Freshpet by 17.0% during the 4th quarter. Corient Private Wealth LLC now owns 8,347 shares of the company’s stock valued at $724,000 after acquiring an additional 1,213 shares in the last quarter. US Bancorp DE boosted its holdings in Freshpet by 21.2% during the 4th quarter. US Bancorp DE now owns 12,585 shares of the company’s stock worth $1,092,000 after acquiring an additional 2,198 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Freshpet in the fourth quarter valued at about $251,000. Finally, Evoke Wealth LLC bought a new position in shares of Freshpet during the fourth quarter valued at about $1,922,000.

Freshpet Stock Performance

NASDAQ FRPT opened at $135.74 on Friday. Freshpet, Inc. has a 52-week low of $54.60 and a 52-week high of $144.38. The company has a fifty day moving average of $132.03 and a 200-day moving average of $124.39. The company has a market capitalization of $6.57 billion, a P/E ratio of 754.11 and a beta of 1.39. 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 (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.06. The firm had revenue of $235.30 million for 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 was up 28.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.35) EPS. As a group, equities research analysts predict that Freshpet, Inc. will post 0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value 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 approximately $12,046,320.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Bank of America boosted their target price on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Citigroup raised their target price on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Wells Fargo & Company boosted their price target on shares of Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. TD Cowen boosted their target price on shares of Freshpet from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $150.00 price target on shares of Freshpet in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.87.

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.