Oppenheimer & Co. Inc. Has $427,000 Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Oppenheimer & Co. Inc. decreased its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 41.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,122 shares of the company’s stock after selling 2,231 shares during the period. Oppenheimer & Co. Inc.’s holdings in Freshpet were worth $427,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FRPT. Geneva Capital Management LLC boosted its position in shares of Freshpet by 166.2% in the third quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock valued at $11,519,000 after acquiring an additional 52,584 shares during the period. Rakuten Securities Inc. bought a new stake in Freshpet in the 3rd quarter valued at $77,000. Baillie Gifford & Co. grew its position in Freshpet by 2.6% in the 3rd quarter. Baillie Gifford & Co. now owns 51,331 shares of the company’s stock worth $7,021,000 after purchasing an additional 1,318 shares during the last quarter. Entropy Technologies LP grew its position in Freshpet by 34.3% in the 3rd quarter. Entropy Technologies LP now owns 4,309 shares of the company’s stock worth $589,000 after purchasing an additional 1,101 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after purchasing an additional 2,445,199 shares during the period.

Insider Activity at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction dated Thursday, September 5th. The stock was 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 directly owns 86,039 shares in the company, valued at $12,046,320.39. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Freshpet Stock Performance

NASDAQ:FRPT opened at $156.57 on Friday. The stock has a market capitalization of $7.60 billion, a P/E ratio of 175.92 and a beta of 1.39. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 1 year low of $68.22 and a 1 year high of $159.12. The firm has a 50 day moving average of $141.99 and a 200-day moving average of $133.12.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. The firm had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) EPS. As a group, sell-side analysts anticipate that Freshpet, Inc. will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FRPT shares. DA Davidson lifted their target price on Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Truist Financial lifted their price objective on Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their target price on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of Freshpet from $126.00 to $154.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut shares of Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.80.

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.