Baillie Gifford & Co. Increases Position in Freshpet, Inc. $FRPT

Baillie Gifford & Co. raised its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 80.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,601 shares of the company’s stock after acquiring an additional 10,549 shares during the period. Baillie Gifford & Co.’s holdings in Freshpet were worth $1,301,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in shares of Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 472 shares in the last quarter. State of Wyoming acquired a new position in Freshpet during the second quarter worth $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Freshpet in the 2nd quarter valued at $35,000. Ossiam increased its stake in shares of Freshpet by 81.1% in the 2nd quarter. Ossiam now owns 509 shares of the company’s stock worth $35,000 after acquiring an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Freshpet by 258.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 542 shares of the company’s stock worth $37,000 after acquiring an additional 391 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Freshpet from $100.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. DA Davidson decreased their target price on shares of Freshpet from $101.00 to $83.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Morgan Stanley assumed coverage on shares of Freshpet in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $71.00 price target for the company. Stifel Nicolaus reduced their price target on shares of Freshpet from $90.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, Zacks Research upgraded Freshpet from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $80.75.

Freshpet Trading Down 1.4%

Shares of NASDAQ FRPT opened at $71.55 on Monday. Freshpet, Inc. has a twelve month low of $46.76 and a twelve month high of $164.07. The company has a current ratio of 5.52, a quick ratio of 4.61 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $61.70 and a 200-day simple moving average of $59.45. The stock has a market capitalization of $3.49 billion, a PE ratio of 31.24, a PEG ratio of 1.75 and a beta of 1.71.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, November 3rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $1.43. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.The firm had revenue of $288.85 million for the quarter, compared to analyst estimates of $283.73 million. Freshpet’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, equities analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Insider Activity at Freshpet

In related news, President Scott James Morris sold 63,135 shares of Freshpet stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $55.21, for a total value of $3,485,683.35. Following the completion of the transaction, the president owned 160,476 shares in the company, valued at approximately $8,859,879.96. The trade was a 28.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.43% of the company’s stock.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.