Riverbridge Partners LLC Sells 37,557 Shares of Freshpet, Inc. $FRPT

Riverbridge Partners LLC trimmed its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637,761 shares of the company’s stock after selling 37,557 shares during the quarter. Freshpet accounts for 1.1% of Riverbridge Partners LLC’s holdings, making the stock its 26th largest holding. Riverbridge Partners LLC’s holdings in Freshpet were worth $36,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lido Advisors LLC acquired a new stake in Freshpet in the 3rd quarter valued at about $210,000. Keybank National Association OH boosted its stake in shares of Freshpet by 35.0% in the 3rd quarter. Keybank National Association OH now owns 19,139 shares of the company’s stock valued at $1,102,000 after buying an additional 4,965 shares during the period. AlphaCore Capital LLC grew its position in shares of Freshpet by 8.9% during the third quarter. AlphaCore Capital LLC now owns 4,618 shares of the company’s stock worth $266,000 after buying an additional 377 shares in the last quarter. Fulcrum Asset Management LLP grew its position in shares of Freshpet by 16,813.2% during the third quarter. Fulcrum Asset Management LLP now owns 6,427 shares of the company’s stock worth $367,000 after buying an additional 6,389 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Freshpet by 12.9% during the third quarter. Pictet Asset Management Holding SA now owns 8,026 shares of the company’s stock worth $462,000 after buying an additional 918 shares during the period.

Freshpet Stock Down 4.1%

Freshpet stock opened at $64.61 on Wednesday. Freshpet, Inc. has a 1-year low of $46.45 and a 1-year high of $86.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.68 and a quick ratio of 4.65. The stock has a market cap of $3.12 billion, a PE ratio of 25.64 and a beta of 1.75. The stock’s fifty day moving average is $64.37 and its two-hundred day moving average is $63.86.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.19. The company had revenue of $317.84 million during the quarter, compared to the consensus estimate of $312.02 million. Freshpet had a return on equity of 6.39% and a net margin of 10.90%. Freshpet’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.86 EPS. On average, sell-side analysts expect that Freshpet, Inc. will post 1.25 EPS for the current fiscal year.

Insider Transactions at Freshpet

In other news, CEO William Cyr sold 41,022 shares of the firm’s stock in a transaction dated 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 approximately $19,464,694.72. This trade represents a 13.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter George bought 1,000 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were acquired at an average cost of $64.92 per share, for a total transaction of $64,920.00. Following the transaction, the director directly owned 51,746 shares in the company, valued at approximately $3,359,350.32. This represents a 1.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 171,636 shares of company stock worth $12,754,864. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley cut shares of Freshpet from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $77.00 to $72.00 in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Freshpet from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. TD Cowen lowered their price target on shares of Freshpet from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 13th. Wells Fargo & Company increased their price objective on shares of Freshpet from $77.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Finally, Needham & Company LLC began coverage on shares of Freshpet in a research report on Thursday, October 1st. They issued a “hold” rating on the stock. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.31.

About Freshpet

Freshpet, Inc. makes and markets fresh, refrigerated food and treats for dogs and cats. Founded in 2006, the company focuses on recipes made with fresh ingredients and positioned as an alternative to shelf-stable pet food. Its products are sold under brands including Freshpet, Freshpet Select, Vital and Nature’s Fresh. Freshpet distributes them through refrigerated displays in grocery, mass-market, club and pet specialty stores, as well as through online retailers. The company primarily serves customers in the United States and Canada and also sells its products in select international markets.