Granite Investment Partners LLC Has $6.13 Million Stock Position in Freshpet, Inc. $FRPT

Granite Investment Partners LLC lowered its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 53.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,919 shares of the company’s stock after selling 119,051 shares during the quarter. Granite Investment Partners LLC’s holdings in Freshpet were worth $6,127,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FRPT. Caitong International Asset Management Co. Ltd raised its stake in Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. Motiv8 Investments LLC acquired a new stake in Freshpet in the 4th quarter worth $28,000. Signaturefd LLC increased its holdings in shares of Freshpet by 143.0% during the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares during the period. Parallel Advisors LLC increased its holdings in shares of Freshpet by 55.0% during the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after purchasing an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Freshpet by 445.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock worth $32,000 after purchasing an additional 432 shares during the period.

Freshpet Trading Down 0.5%

Shares of FRPT stock opened at $54.25 on Thursday. The firm has a fifty day moving average of $53.62 and a 200-day moving average of $63.12. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 14.51 and a beta of 1.60. Freshpet, Inc. has a 52-week low of $46.45 and a 52-week high of $86.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FRPT shares. Wells Fargo & Company reduced their target price on shares of Freshpet from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus set a $66.00 price target on Freshpet in a research note on Thursday, May 7th. Bank of America cut their price target on Freshpet from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Jefferies Financial Group reduced their price objective on Freshpet from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Finally, DA Davidson raised Freshpet to a “strong-buy” rating in a report on Monday. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.25.

Insider Transactions at Freshpet

In related news, CEO William B. Cyr sold 42,495 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $51.03, for a total value of $2,168,519.85. Following the completion of the transaction, the chief executive officer owned 224,459 shares of the company’s stock, valued at $11,454,142.77. This represents a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig D. Steeneck purchased 2,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $47.83 per share, with a total value of $95,660.00. Following the purchase, the director owned 37,500 shares of the company’s stock, valued at approximately $1,793,625. This trade represents a 5.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 4,211 shares of company stock worth $215,027 and sold 235,262 shares worth $11,664,591. Insiders own 4.30% 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.