Silverleafe Capital Partners LLC Acquires New Position in Freshpet, Inc. (NASDAQ:FRPT)

Silverleafe Capital Partners LLC bought a new position in shares of Freshpet, Inc. (NASDAQ:FRPT) during the fourth quarter, HoldingsChannel reports. The firm bought 4,581 shares of the company’s stock, valued at approximately $678,000.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Freshpet by 4.7% during the third quarter. Geode Capital Management LLC now owns 835,663 shares of the company’s stock worth $115,650,000 after purchasing an additional 37,287 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Freshpet in the 3rd quarter worth about $1,465,000. Geneva Capital Management LLC boosted its holdings in shares of Freshpet by 166.2% in the 3rd quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock valued at $11,519,000 after buying an additional 52,584 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Freshpet during the 2nd quarter valued at about $4,299,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after acquiring an additional 154,909 shares during the period.

Freshpet Price Performance

Freshpet stock traded down $1.84 during midday trading on Monday, hitting $144.03. The company’s stock had a trading volume of 157,024 shares, compared to its average volume of 450,199. The stock’s 50-day moving average price is $148.78 and its 200-day moving average price is $138.13. The company has a market capitalization of $6.99 billion, a PE ratio of 161.83 and a beta of 1.41. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 12 month low of $82.21 and a 12 month high of $160.91.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. Freshpet’s revenue for the quarter was up 26.3% compared to the same quarter last year. Analysts anticipate that Freshpet, Inc. will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Scott James Morris sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total transaction of $790,650.00. Following the completion of the sale, the president now owns 122,380 shares of the company’s stock, valued at $19,351,949.40. This represents a 3.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,500 shares of company stock worth $1,962,175. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

FRPT has been the subject of a number of research reports. Truist Financial lifted their target price on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird boosted their price objective on Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. TD Cowen upped their price target on shares of Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, StockNews.com downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Freshpet has a consensus rating of “Moderate Buy” and a consensus target price of $163.36.

Freshpet 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.