US Bancorp DE Trims Holdings in Freshpet, Inc. $FRPT

US Bancorp DE trimmed its position in Freshpet, Inc. (NASDAQ:FRPT) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,510 shares of the company’s stock after selling 671 shares during the period. US Bancorp DE’s holdings in Freshpet were worth $1,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System lifted its holdings in Freshpet by 1.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 16,510 shares of the company’s stock valued at $1,122,000 after purchasing an additional 189 shares in the last quarter. Hardy Reed LLC lifted its holdings in Freshpet by 10.4% in the 1st quarter. Hardy Reed LLC now owns 2,414 shares of the company’s stock valued at $201,000 after purchasing an additional 228 shares in the last quarter. Xponance Inc. lifted its holdings in Freshpet by 7.1% in the 1st quarter. Xponance Inc. now owns 3,611 shares of the company’s stock valued at $300,000 after purchasing an additional 238 shares in the last quarter. Wealth Alliance LLC lifted its holdings in shares of Freshpet by 7.6% during the 1st quarter. Wealth Alliance LLC now owns 3,419 shares of the company’s stock worth $284,000 after acquiring an additional 242 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Freshpet by 2.1% during the 1st quarter. KBC Group NV now owns 14,704 shares of the company’s stock worth $1,223,000 after acquiring an additional 307 shares during the period.

Insider Activity

In other news, Director Walter N. George acquired 1,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were bought 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 of the company’s stock, valued at approximately $2,445,924.39. This trade represents a 2.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy R. Mclevish acquired 3,500 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average price of $56.00 per share, for a total transaction of $196,000.00. Following the purchase, the director directly owned 35,290 shares of the company’s stock, valued at approximately $1,976,240. This trade represents a 11.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 6,008 shares of company stock worth $332,305 over the last 90 days. Company insiders own 4.43% of the company’s stock.

Freshpet Trading Down 4.4%

FRPT opened at $51.29 on Friday. The firm has a market capitalization of $2.50 billion, a P/E ratio of 76.55, a P/E/G ratio of 1.20 and a beta of 1.74. The firm’s 50 day moving average is $54.88 and its 200-day moving average is $68.36. Freshpet, Inc. has a 52-week low of $46.76 and a 52-week high of $164.07. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America reiterated a “neutral” rating and set a $60.00 price objective (down from $81.00) on shares of Freshpet in a report on Wednesday, October 8th. UBS Group cut their price objective on shares of Freshpet from $65.00 to $48.00 and set a “sell” rating on the stock in a report on Monday, September 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Freshpet in a report on Wednesday, October 8th. DA Davidson set a $101.00 price objective on shares of Freshpet in a report on Thursday, August 7th. Finally, Truist Financial cut their price objective on shares of Freshpet from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Freshpet currently has a consensus rating of “Moderate Buy” and an average target price of $103.33.

Freshpet Company 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.