Algert Global LLC Has $6.47 Million Stake in Freshpet, Inc. (NASDAQ:FRPT)

Algert Global LLC grew its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 86.8% during the third quarter, Holdings Channel.com reports. The firm owned 47,304 shares of the company’s stock after acquiring an additional 21,977 shares during the period. Algert Global LLC’s holdings in Freshpet were worth $6,470,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of FRPT. Russell Investments Group Ltd. boosted its stake in Freshpet by 5,447.4% in the first quarter. Russell Investments Group Ltd. now owns 10,651 shares of the company’s stock worth $1,234,000 after purchasing an additional 10,459 shares in the last quarter. Vanguard Group Inc. boosted its stake in Freshpet by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock worth $540,650,000 after purchasing an additional 13,709 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Freshpet in the first quarter worth $185,000. Price T Rowe Associates Inc. MD boosted its stake in Freshpet by 199.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company’s stock worth $11,462,000 after purchasing an additional 65,868 shares in the last quarter. Finally, Bayesian Capital Management LP boosted its stake in Freshpet by 37.6% in the first quarter. Bayesian Capital Management LP now owns 16,458 shares of the company’s stock worth $1,907,000 after purchasing an additional 4,500 shares in the last quarter.

Freshpet Stock Up 0.1 %

NASDAQ:FRPT opened at $156.76 on Friday. Freshpet, Inc. has a 1 year low of $68.22 and a 1 year high of $159.12. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 176.14 and a beta of 1.39. The stock has a 50-day moving average price of $142.64 and a two-hundred day moving average price of $133.53.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The firm had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue was up 26.3% on a year-over-year basis. As a group, equities analysts expect that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer boosted their target price on Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. TD Cowen boosted their target price on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their target price on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Benchmark restated a “buy” rating and set a $150.00 target price on shares of Freshpet in a research report on Friday, November 1st. Finally, StockNews.com downgraded Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.80.

Insider Transactions at Freshpet

In related news, insider Thembeka Machaba sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the transaction, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at $12,046,320.39. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% 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.