Envestnet Asset Management Inc. Raises Position in Freshpet, Inc. (NASDAQ:FRPT)

Envestnet Asset Management Inc. lifted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT – Get Rating) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,402 shares of the company’s stock after acquiring an additional 3,352 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Freshpet worth $2,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Teacher Retirement System of Texas grew its stake in Freshpet by 2.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 6,840 shares of the company’s stock worth $343,000 after buying an additional 195 shares during the last quarter. Commerce Bank grew its stake in Freshpet by 0.5% during the 3rd quarter. Commerce Bank now owns 42,820 shares of the company’s stock worth $2,145,000 after buying an additional 198 shares during the last quarter. First Republic Investment Management Inc. grew its stake in Freshpet by 4.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 6,078 shares of the company’s stock worth $315,000 after buying an additional 239 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Freshpet by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 19,477 shares of the company’s stock valued at $976,000 after purchasing an additional 250 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Freshpet by 3.6% in the 2nd quarter. LPL Financial LLC now owns 7,568 shares of the company’s stock valued at $393,000 after purchasing an additional 263 shares during the last quarter.

Insider Buying and Selling at Freshpet

In other Freshpet news, Director Cathal Walsh sold 6,277 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $70.10, for a total transaction of $440,017.70. Following the completion of the sale, the director now owns 5,234 shares of the company’s stock, valued at $366,903.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is owned by company insiders.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $64.10 on Thursday. The company has a market cap of $3.08 billion, a P/E ratio of -45.14 and a beta of 0.97. The company has a quick ratio of 8.02, a current ratio of 9.21 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 52 week low of $36.02 and a 52 week high of $73.48. The business has a fifty day simple moving average of $64.59 and a 200-day simple moving average of $62.31.

Freshpet (NASDAQ:FRPT – Get Rating) last announced its quarterly earnings data on Monday, May 8th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). The business had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $166.97 million. Freshpet had a negative net margin of 10.58% and a negative return on equity of 6.60%. Freshpet’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.40) EPS. Equities research analysts forecast that Freshpet, Inc. will post -0.97 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stephens lifted their target price on Freshpet from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, February 28th. Credit Suisse Group lifted their target price on Freshpet from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, February 28th. Benchmark reiterated a “buy” rating and issued a $100.00 target price on shares of Freshpet in a research note on Tuesday, February 28th. Robert W. Baird lifted their target price on Freshpet from $75.00 to $80.00 in a research note on Tuesday, May 9th. Finally, VNET Group reissued a “maintains” rating on shares of Freshpet in a report on Friday, May 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.86.

About Freshpet

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Freshpet, Inc engages in manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. Its products are blends of fresh meats, vegetables and fruits farmed locally and made at Freshpet kitchens. Its products include Deli Fresh Grain Free Chicken Recipe for Dogs, Joy Turkey and Apple Bites Treats, Nature’s Fresh Grain Free Chicken Recipe for Cats, and Vital Grain Free Chicken and Ocean Whitefish Recipe for Cats.