First Horizon Advisors Inc. Acquires 138 Shares of Freshpet, Inc. (NASDAQ:FRPT)

First Horizon Advisors Inc. boosted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 23.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 739 shares of the company’s stock after acquiring an additional 138 shares during the quarter. First Horizon Advisors Inc.’s holdings in Freshpet were worth $101,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Freshpet by 31.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,713 shares of the company’s stock valued at $13,091,000 after purchasing an additional 22,651 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Freshpet during the 3rd quarter valued at about $4,751,000. Savoir Faire Capital Management L.P. boosted its position in Freshpet by 119.7% in the 3rd quarter. Savoir Faire Capital Management L.P. now owns 53,391 shares of the company’s stock valued at $7,302,000 after buying an additional 29,091 shares during the period. GLOBALT Investments LLC GA grew its stake in Freshpet by 3.2% in the 3rd quarter. GLOBALT Investments LLC GA now owns 3,580 shares of the company’s stock worth $490,000 after acquiring an additional 111 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new position in shares of Freshpet during the third quarter worth approximately $1,433,000.

Insider Activity

In other news, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares of the company’s stock, valued at $12,046,320.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Freshpet Price Performance

NASDAQ FRPT opened at $156.76 on Friday. The firm’s fifty day simple moving average is $142.64 and its two-hundred day simple moving average is $133.53. The firm has a market capitalization of $7.61 billion, a P/E ratio of 176.14 and a beta of 1.39. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 12-month low of $68.22 and a 12-month high of $159.12.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. DA Davidson boosted their price target on Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company increased their price target on Freshpet from $157.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on Freshpet from $155.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Benchmark reiterated a “buy” rating and set a $150.00 target price on shares of Freshpet in a report on Friday, November 1st. Finally, Truist Financial boosted their price target on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.80.

About Freshpet

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.