Freshpet, Inc. $FRPT Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 93.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,383 shares of the company’s stock after selling 21,005 shares during the quarter. Sterling Capital Management LLC’s holdings in Freshpet were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC purchased a new stake in shares of Freshpet in the 2nd quarter worth $25,000. Integrated Wealth Concepts LLC bought a new position in shares of Freshpet during the 2nd quarter worth $34,000. State of Wyoming bought a new position in shares of Freshpet during the 2nd quarter worth $61,000. Versant Capital Management Inc grew its position in shares of Freshpet by 254.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,689 shares of the company’s stock worth $100,000 after buying an additional 1,213 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Freshpet by 3,640.4% during the third quarter. IFP Advisors Inc now owns 1,945 shares of the company’s stock valued at $112,000 after buying an additional 1,893 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FRPT. Weiss Ratings upgraded Freshpet from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 28th. Needham & Company LLC began coverage on shares of Freshpet in a research note on Thursday, October 1st. They issued a “hold” rating for the company. Piper Sandler reiterated an “overweight” rating on shares of Freshpet in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft set a $67.00 target price on shares of Freshpet in a research report on Wednesday, October 21st. Finally, Stifel Nicolaus raised their target price on shares of Freshpet from $66.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.53.

Freshpet Stock Up 3.1%

Freshpet stock opened at $69.62 on Tuesday. The business has a fifty day moving average of $65.13 and a two-hundred day moving average of $63.86. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3.42 billion, a P/E ratio of 18.32 and a beta of 1.78. Freshpet, Inc. has a twelve month low of $46.45 and a twelve month high of $86.00.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%. The business had revenue of $305.59 million for the quarter, compared to analysts’ expectations of $292.35 million. During the same quarter last year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts forecast that Freshpet, Inc. will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In related news, Director Walter George purchased 1,000 shares of Freshpet stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $64.92 per share, with a total value of $64,920.00. Following the transaction, the director owned 51,746 shares in the company, valued at approximately $3,359,350.32. The trade was a 1.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Cyr sold 41,022 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $72.86, for a total value 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. This trade represents a 13.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 171,636 shares of company stock valued at $12,754,864. Corporate insiders own 4.30% of the company’s stock.

Freshpet Company Profile

Freshpet, Inc (NASDAQ: FRPT) is a pet food company that develops, manufactures and markets refrigerated, fresh food and treats for dogs and cats. Its products are made with animal proteins, vegetables and other ingredients and are designed to be stored in the refrigerator rather than on a conventional shelf.

The company sells its products under the Freshpet brand and related product lines, including Freshpet Select and Vital. Its offerings include refrigerated meals, rolls, recipes and treats formulated for different pet sizes, ages and dietary needs.