Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Freshpet, Inc. $FRPT

Wealth Enhancement Advisory Services LLC grew its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 148.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,712 shares of the company’s stock after purchasing an additional 8,187 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Freshpet were worth $984,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Pallas Capital Advisors LLC purchased a new position in Freshpet in the 2nd quarter worth approximately $272,000. E. Ohman J or Asset Management AB lifted its stake in Freshpet by 38.1% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 18,136 shares of the company’s stock worth $1,233,000 after purchasing an additional 5,000 shares in the last quarter. Rhumbline Advisers lifted its stake in Freshpet by 131.0% in the 1st quarter. Rhumbline Advisers now owns 106,438 shares of the company’s stock worth $8,852,000 after purchasing an additional 60,352 shares in the last quarter. United Services Automobile Association purchased a new position in Freshpet in the 1st quarter worth approximately $247,000. Finally, Jones Financial Companies Lllp raised its position in shares of Freshpet by 734.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock valued at $151,000 after buying an additional 1,593 shares during the period.

Analyst Ratings Changes

Several research firms have recently commented on FRPT. JPMorgan Chase & Co. began coverage on shares of Freshpet in a research report on Wednesday, August 20th. They set a “neutral” rating and a $70.00 price target on the stock. Wall Street Zen raised shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Truist Financial reduced their price target on shares of Freshpet from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, August 5th. Zacks Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 price target (down previously from $120.00) on shares of Freshpet in a research report on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.43.

Freshpet Stock Down 1.8%

Freshpet stock opened at $54.10 on Thursday. Freshpet, Inc. has a fifty-two week low of $48.41 and a fifty-two week high of $164.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.75 and a current ratio of 4.81. The firm has a 50 day moving average price of $58.86 and a 200 day moving average price of $71.22. The company has a market capitalization of $2.64 billion, a PE ratio of 80.75, a price-to-earnings-growth ratio of 1.02 and a beta of 1.74.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.12 by $0.21. The business had revenue of $264.69 million during the quarter, compared to the consensus estimate of $269.75 million. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. Research analysts expect that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Insiders Place Their Bets

In other Freshpet news, Director Walter N. George purchased 1,000 shares of the company’s stock in a transaction on Monday, September 8th. The stock was acquired at an average price of $52.57 per share, for a total transaction of $52,570.00. Following the completion of the purchase, the director directly owned 46,527 shares in the company, valued at approximately $2,445,924.39. The trade was a 2.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacki Sue Kelley purchased 814 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was acquired at an average price of $56.50 per share, with a total value of $45,991.00. Following the purchase, the director owned 11,907 shares of the company’s stock, valued at approximately $672,745.50. This represents a 7.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 6,008 shares of company stock worth $332,305 over the last 90 days. Corporate insiders own 4.43% of the company’s stock.

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.