Transcendent Capital Group LLC Makes New Investment in Freshpet, Inc. (NASDAQ:FRPT)

Transcendent Capital Group LLC bought a new stake in Freshpet, Inc. (NASDAQ:FRPT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,708 shares of the company’s stock, valued at approximately $1,465,000.

A number of other hedge funds have also made changes to their positions in the business. ORG Wealth Partners LLC acquired a new stake in Freshpet in the 3rd quarter valued at $29,000. ORG Partners LLC acquired a new position in shares of Freshpet in the second quarter worth about $32,000. GAMMA Investing LLC boosted its holdings in Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock valued at $48,000 after purchasing an additional 108 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock valued at $49,000 after purchasing an additional 367 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Freshpet during the 2nd quarter worth approximately $52,000.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FRPT. Stifel Nicolaus increased their target price on Freshpet from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup increased their price objective on shares of Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of Freshpet in a research report on Friday, November 1st. Truist Financial increased their price target on shares of Freshpet from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price target on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.13.

Freshpet Price Performance

Shares of FRPT opened at $156.45 on Friday. Freshpet, Inc. has a 12 month low of $65.85 and a 12 month high of $159.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.69. The stock has a fifty day moving average price of $139.37 and a 200 day moving average price of $130.50. The company has a market cap of $7.59 billion, a P/E ratio of 175.79 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The business had revenue of $253.40 million during the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. On average, research analysts forecast that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the transaction, the executive vice president now directly owns 86,039 shares in the company, valued at approximately $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is owned by insiders.

Freshpet Company Profile

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.