State of New Jersey Common Pension Fund D Purchases 4,205 Shares of Freshpet, Inc. $FRPT

State of New Jersey Common Pension Fund D increased its position in Freshpet, Inc. (NASDAQ:FRPT) by 23.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,187 shares of the company’s stock after buying an additional 4,205 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Freshpet were worth $1,508,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FRPT. Armistice Capital LLC bought a new position in Freshpet in the 1st quarter worth $59,630,000. Vanguard Group Inc. boosted its stake in shares of Freshpet by 12.3% in the first quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company’s stock worth $434,455,000 after acquiring an additional 571,139 shares during the period. American Century Companies Inc. boosted its stake in shares of Freshpet by 171.9% in the first quarter. American Century Companies Inc. now owns 414,997 shares of the company’s stock worth $34,515,000 after acquiring an additional 262,387 shares during the period. William Blair Investment Management LLC boosted its stake in Freshpet by 20.6% in the 2nd quarter. William Blair Investment Management LLC now owns 1,527,068 shares of the company’s stock worth $103,780,000 after purchasing an additional 260,868 shares during the period. Finally, Riverbridge Partners LLC boosted its stake in Freshpet by 23.2% in the 2nd quarter. Riverbridge Partners LLC now owns 1,264,959 shares of the company’s stock worth $85,967,000 after purchasing an additional 238,130 shares during the period.

Freshpet Stock Down 2.7%

Shares of NASDAQ:FRPT opened at $49.21 on Monday. The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40. Freshpet, Inc. has a 12 month low of $46.76 and a 12 month high of $164.07. The company has a 50-day moving average price of $53.12 and a 200 day moving average price of $66.27. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 73.45, a PEG ratio of 1.10 and a beta of 1.74.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.21. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The firm had revenue of $264.69 million during the quarter, compared to the consensus estimate of $269.75 million. During the same quarter last year, the firm earned ($0.03) EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, equities research analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FRPT. Stifel Nicolaus dropped their price target on Freshpet from $90.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, October 24th. JPMorgan Chase & Co. dropped their price objective on shares of Freshpet from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Bank of America reissued a “neutral” rating and set a $60.00 price objective (down previously from $81.00) on shares of Freshpet in a report on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on shares of Freshpet from $88.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Freshpet in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Freshpet presently has an average rating of “Hold” and an average price target of $98.47.

Insider Buying and Selling

In other news, Director Timothy R. Mclevish bought 3,500 shares of the stock in a transaction dated Wednesday, September 10th. The stock was purchased at an average price of $56.00 per share, for a total transaction of $196,000.00. Following the acquisition, the director owned 35,290 shares of the company’s stock, valued at $1,976,240. The trade was a 11.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Walter N. George bought 1,000 shares of the stock in a transaction dated Monday, September 8th. The stock was purchased at an average price of $52.57 per share, with a total value of $52,570.00. Following the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 6,008 shares of company stock worth $332,305 over the last three months. 4.43% of the stock is owned by 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.