Hsbc Holdings PLC Takes $757,000 Position in Freshpet, Inc. $FRPT

Hsbc Holdings PLC acquired a new position in Freshpet, Inc. (NASDAQ:FRPT) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 12,407 shares of the company’s stock, valued at approximately $757,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Freshpet by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company’s stock worth $321,822,000 after acquiring an additional 128,499 shares during the last quarter. Wasatch Advisors LP lifted its position in Freshpet by 4.3% in the fourth quarter. Wasatch Advisors LP now owns 3,937,309 shares of the company’s stock valued at $239,900,000 after purchasing an additional 162,293 shares during the last quarter. William Blair Investment Management LLC lifted its position in Freshpet by 30.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock valued at $118,982,000 after purchasing an additional 461,444 shares during the last quarter. Capital World Investors boosted its stake in shares of Freshpet by 7.1% during the fourth quarter. Capital World Investors now owns 1,587,691 shares of the company’s stock valued at $96,738,000 after purchasing an additional 104,913 shares during the period. Finally, Armistice Capital LLC boosted its stake in shares of Freshpet by 5.0% during the fourth quarter. Armistice Capital LLC now owns 1,296,000 shares of the company’s stock valued at $78,965,000 after purchasing an additional 61,198 shares during the period.

Insider Activity

In other Freshpet news, CEO William B. Cyr sold 42,495 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $51.03, for a total transaction of $2,168,519.85. Following the completion of the sale, the chief executive officer directly owned 224,459 shares in the company, valued at approximately $11,454,142.77. This trade represents a 15.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig D. Steeneck bought 2,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $47.83 per share, with a total value of $95,660.00. Following the completion of the acquisition, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,793,625. The trade was a 5.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. upgraded shares of Freshpet from a “neutral” rating to an “overweight” rating and upped their price target for the company from $66.00 to $68.00 in a report on Thursday, May 7th. Stifel Nicolaus set a $66.00 price target on shares of Freshpet in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $63.00 price target on shares of Freshpet in a report on Thursday, May 7th. Finally, TD Cowen raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.25.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $54.23 on Wednesday. The business has a fifty day moving average price of $52.82 and a 200-day moving average price of $62.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. The company has a market capitalization of $2.67 billion, a PE ratio of 14.50 and a beta of 1.60. Freshpet, Inc. has a 1-year low of $46.45 and a 1-year high of $86.00.

Freshpet Profile

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.