First Trust Advisors LP Makes New Investment in Freshpet, Inc. $FRPT

First Trust Advisors LP acquired a new stake in Freshpet, Inc. (NASDAQ:FRPT) during the first quarter, HoldingsChannel reports. The firm acquired 146,820 shares of the company’s stock, valued at approximately $8,657,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in Freshpet by 606.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. Motiv8 Investments LLC acquired a new position in Freshpet in the fourth quarter valued at approximately $28,000. State of Wyoming purchased a new position in Freshpet in the second quarter valued at approximately $34,000. Signaturefd LLC increased its stake in Freshpet by 143.0% in the fourth quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after purchasing an additional 296 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 472 shares in the last quarter.

Freshpet Trading Down 2.0%

FRPT opened at $59.54 on Friday. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a 52 week low of $46.45 and a 52 week high of $86.00. The business’s 50 day moving average is $54.84 and its two-hundred day moving average is $62.55. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 15.92 and a beta of 1.60.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FRPT shares. Piper Sandler restated an “overweight” rating on shares of Freshpet in a research report on Monday, June 15th. Weiss Ratings downgraded shares of Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Wall Street Zen upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a research note on Sunday. DA Davidson raised shares of Freshpet to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Bank of America decreased their price objective on shares of Freshpet from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.50.

Insider Activity at Freshpet

In other news, CEO William B. Cyr sold 42,495 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Craig D. Steeneck bought 2,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $47.83 per share, for a total transaction of $95,660.00. Following the completion of the acquisition, the director directly owned 37,500 shares in the company, valued at approximately $1,793,625. This trade represents a 5.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. 4.30% of the stock is currently owned by corporate insiders.

Freshpet Company 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.