Jupiter Topco LLC Acquires Shares of 21,019 Freshpet, Inc. $FRPT

Jupiter Topco LLC acquired a new position in Freshpet, Inc. (NASDAQ:FRPT) in the second quarter, Holdings Channel reports. The institutional investor acquired 21,019 shares of the company’s stock, valued at approximately $1,242,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FRPT. Royal Bank of Canada lifted its stake in Freshpet by 86.3% in the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock worth $5,624,000 after acquiring an additional 31,334 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Freshpet by 734.1% in the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock worth $151,000 after acquiring an additional 1,593 shares during the period. United Services Automobile Association purchased a new position in shares of Freshpet during the 1st quarter valued at about $247,000. EverSource Wealth Advisors LLC raised its position in Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 472 shares in the last quarter. Finally, Cresset Asset Management LLC increased its holdings in shares of Freshpet by 140.3% during the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock valued at $428,000 after purchasing an additional 3,676 shares in the last quarter.

Insider Transactions at Freshpet

In other news, CEO William Cyr sold 41,022 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $72.86, for a total transaction of $2,988,862.92. Following the sale, the chief executive officer owned 267,152 shares of the company’s stock, valued at $19,464,694.72. The trade was a 13.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 171,636 shares of company stock valued at $12,754,864 over the last three months. Company insiders own 4.30% of the company’s stock.

Freshpet Stock Performance

NASDAQ FRPT opened at $70.24 on Friday. The business’s 50-day moving average price is $64.10 and its 200 day moving average price is $63.00. Freshpet, Inc. has a 52-week low of $46.45 and a 52-week high of $86.00. The firm has a market cap of $3.45 billion, a P/E ratio of 18.48 and a beta of 1.66. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.17. The company had revenue of $305.59 million during the quarter, compared to the consensus estimate of $292.35 million. Freshpet had a net margin of 17.28% and a return on equity of 5.97%. Freshpet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, equities research analysts expect that Freshpet, Inc. will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Freshpet from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Piper Sandler reissued an “overweight” rating on shares of Freshpet in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $70.00 target price on shares of Freshpet in a research report on Thursday, August 6th. Wells Fargo & Company decreased their price objective on shares of Freshpet from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Freshpet in a research report on Thursday, August 27th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.31.

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.