Kayne Anderson Rudnick Investment Management LLC Sells 14,245 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Kayne Anderson Rudnick Investment Management LLC lowered its position in Freshpet, Inc. (NASDAQ:FRPT) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 390,248 shares of the company’s stock after selling 14,245 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.81% of Freshpet worth $50,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. ORG Partners LLC bought a new position in shares of Freshpet during the second quarter valued at approximately $32,000. GAMMA Investing LLC boosted its position in Freshpet by 100.8% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after acquiring an additional 132 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Freshpet in the 4th quarter valued at $29,000. Whittier Trust Co. bought a new position in shares of Freshpet in the 1st quarter worth $41,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s 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 sale, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Robert W. Baird lifted their target price on Freshpet from $140.00 to $157.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Piper Sandler reissued an “overweight” rating and set a $150.00 target price on shares of Freshpet in a research report on Tuesday, July 2nd. Oppenheimer lifted their price target on shares of Freshpet from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Finally, Citigroup increased their price objective on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.87.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $142.19 on Friday. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $144.38. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42. The firm has a market cap of $6.89 billion, a P/E ratio of 789.94 and a beta of 1.39. The business’s 50 day moving average price is $130.38 and its 200 day moving average price is $123.47.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 2.86% and a return on equity of 1.78%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.35) earnings per share. On average, sell-side analysts expect that Freshpet, Inc. will post 0.72 earnings per share for the current year.

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.