Freshpet, Inc. $FRPT is Fort Point Capital Partners LLC’s 9th Largest Position

Fort Point Capital Partners LLC boosted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 347,257 shares of the company’s stock after acquiring an additional 10,283 shares during the quarter. Freshpet accounts for 2.5% of Fort Point Capital Partners LLC’s portfolio, making the stock its 9th biggest holding. Fort Point Capital Partners LLC owned about 0.71% of Freshpet worth $21,967,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Freshpet by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company’s stock valued at $321,822,000 after purchasing an additional 128,499 shares in the last quarter. Wasatch Advisors LP raised its position in Freshpet by 4.3% during the 4th quarter. Wasatch Advisors LP now owns 3,937,309 shares of the company’s stock valued at $239,900,000 after purchasing an additional 162,293 shares in the last quarter. William Blair Investment Management LLC raised its position in Freshpet by 30.9% during the 4th quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company’s stock valued at $118,982,000 after purchasing an additional 461,444 shares in the last quarter. Capital World Investors raised its position in Freshpet by 7.1% during the 4th quarter. Capital World Investors now owns 1,587,691 shares of the company’s stock valued at $96,738,000 after purchasing an additional 104,913 shares in the last quarter. Finally, Armistice Capital LLC raised its position in Freshpet by 118.4% during the 3rd quarter. Armistice Capital LLC now owns 1,234,802 shares of the company’s stock valued at $68,050,000 after purchasing an additional 669,399 shares in the last quarter.

Insider Activity

In other news, Director Craig D. Steeneck purchased 2,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $47.83 per share, for a total transaction of $95,660.00. Following the purchase, the director owned 37,500 shares in the company, valued at $1,793,625. This trade represents a 5.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William B. Cyr sold 42,495 shares of the business’s 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 sale, the chief executive officer owned 224,459 shares in the company, valued at approximately $11,454,142.77. The trade was a 15.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have acquired 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. 4.30% of the stock is currently owned by insiders.

Freshpet Stock Up 0.8%

Freshpet stock opened at $52.66 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18. The business’s 50-day simple moving average is $57.21 and its two-hundred day simple moving average is $63.80. The company has a market cap of $2.59 billion, a PE ratio of 14.08 and a beta of 1.63. Freshpet, Inc. has a fifty-two week low of $46.45 and a fifty-two week high of $86.00.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Oppenheimer raised Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Friday, March 20th. Weiss Ratings lowered Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $63.00 price target on shares of Freshpet in a research report on Thursday, May 7th. Stifel Nicolaus set a $66.00 price target on Freshpet in a research report on Thursday, May 7th. Finally, Stephens reissued an “overweight” rating and issued a $90.00 price target on shares of Freshpet in a research report on Tuesday, February 24th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.88.

Freshpet 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.