Freshpet, Inc. (NASDAQ:FRPT) Stock Position Trimmed by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. trimmed its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 12.0% in the second quarter, HoldingsChannel reports. The firm owned 3,200 shares of the company’s stock after selling 435 shares during the period. Contravisory Investment Management Inc.’s holdings in Freshpet were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Freshpet by 65.9% during the second quarter. CWM LLC now owns 496 shares of the company’s stock valued at $64,000 after purchasing an additional 197 shares during the period. GAMMA Investing LLC lifted its stake in shares of Freshpet by 41.1% in the 2nd quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after acquiring an additional 108 shares during the period. Motley Fool Asset Management LLC bought a new position in shares of Freshpet in the first quarter valued at approximately $348,000. Bayesian Capital Management LP increased its stake in shares of Freshpet by 37.6% during the first quarter. Bayesian Capital Management LP now owns 16,458 shares of the company’s stock valued at $1,907,000 after acquiring an additional 4,500 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Freshpet by 199.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company’s stock worth $11,462,000 after purchasing an additional 65,868 shares in the last quarter.

Freshpet Stock Up 0.8 %

NASDAQ FRPT traded up $1.04 during trading on Thursday, reaching $129.30. 654,501 shares of the company’s stock were exchanged, compared to its average volume of 618,914. The firm has a market capitalization of $6.26 billion, a PE ratio of 717.22 and a beta of 1.36. Freshpet, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $136.35. The company has a current ratio of 4.97, a quick ratio of 4.09 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $126.46 and its 200-day simple moving average is $114.07.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.06. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The business had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. During the same period last year, the company posted ($0.35) earnings per share. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. Sell-side analysts predict that Freshpet, Inc. will post 0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FRPT shares. JPMorgan Chase & Co. lifted their price target on Freshpet from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen boosted their price target on shares of Freshpet from $128.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Piper Sandler restated an “overweight” rating and set a $150.00 price objective on shares of Freshpet in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Freshpet in a report on Thursday, May 23rd. They issued a “buy” rating and a $150.00 target price on the stock. Finally, Bank of America lifted their price target on shares of Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and an average target price of $135.47.

Insider Transactions at Freshpet

In related news, EVP Stephen Macchiaverna sold 6,000 shares of Freshpet stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $132.13, for a total transaction of $792,780.00. Following the completion of the sale, the executive vice president now owns 86,039 shares of the company’s stock, valued at $11,368,333.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.60% of the stock is currently owned by company insiders.

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.