Victory Capital Management Inc. Raises Position in Freshpet, Inc. (NASDAQ:FRPT)

Victory Capital Management Inc. raised its stake in Freshpet, Inc. (NASDAQ:FRPT) by 211.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 345,810 shares of the company’s stock after purchasing an additional 234,836 shares during the quarter. Victory Capital Management Inc.’s holdings in Freshpet were worth $30,002,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JANA Partners Management LP bought a new stake in shares of Freshpet during the third quarter valued at approximately $214,405,000. Lord Abbett & CO. LLC bought a new position in shares of Freshpet during the third quarter valued at $28,044,000. Jennison Associates LLC increased its holdings in shares of Freshpet by 36.6% during the fourth quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after acquiring an additional 245,403 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Freshpet by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,576,014 shares of the company’s stock worth $235,588,000 after purchasing an additional 185,210 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in Freshpet in the 3rd quarter worth about $7,537,000.

Freshpet Stock Performance

NASDAQ FRPT opened at $120.70 on Wednesday. The firm has a market capitalization of $5.85 billion, a P/E ratio of -170.00 and a beta of 1.24. The stock has a 50-day simple moving average of $110.64 and a two-hundred day simple moving average of $90.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.08 and a current ratio of 4.79. Freshpet, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $127.25.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, February 26th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.09 by $0.22. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The company had revenue of $215.40 million for the quarter, compared to analyst estimates of $204.93 million. During the same quarter last year, the business earned ($0.06) earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. On average, equities analysts forecast that Freshpet, Inc. will post 0.07 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on FRPT shares. Stifel Nicolaus increased their target price on Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. TD Cowen lifted their price objective on Freshpet from $128.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird upped their target price on shares of Freshpet from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday. Oppenheimer raised their price target on shares of Freshpet from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Citigroup initiated coverage on shares of Freshpet in a report on Thursday, February 1st. They set a “neutral” rating and a $94.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and a consensus target price of $119.71.

Insider Activity

In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the transaction, the executive vice president now owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total value of $773,818.90. Following the completion of the sale, the executive vice president now owns 85,056 shares in the company, valued at approximately $9,231,127.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Scott James Morris sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $113.76, for a total value of $284,400.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,921,948.80. The disclosure for this sale can be found here. Insiders have sold a total of 15,762 shares of company stock worth $1,737,280 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

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.