Washington Trust Advisors Inc. Increases Stock Position in Freshpet, Inc. (NASDAQ:FRPT)

Washington Trust Advisors Inc. raised its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 617.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 581 shares of the company’s stock after purchasing an additional 500 shares during the period. Washington Trust Advisors Inc.’s holdings in Freshpet were worth $50,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. RiverPark Advisors LLC purchased a new stake in shares of Freshpet in the third quarter valued at about $28,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Freshpet during the third quarter valued at approximately $59,000. Tower Research Capital LLC TRC lifted its stake in shares of Freshpet by 1,185.5% during the third quarter. Tower Research Capital LLC TRC now owns 977 shares of the company’s stock valued at $64,000 after buying an additional 901 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Freshpet by 873.8% during the first quarter. Parkside Financial Bank & Trust now owns 818 shares of the company’s stock valued at $84,000 after buying an additional 734 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Freshpet during the first quarter valued at approximately $143,000.

Freshpet Trading Down 0.1 %

NASDAQ FRPT traded down $0.12 during trading on Thursday, reaching $115.59. The company’s stock had a trading volume of 181,863 shares, compared to its average volume of 647,154. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08. The business has a 50-day moving average price of $98.75 and a 200-day moving average price of $80.71. Freshpet, Inc. has a 1-year low of $54.60 and a 1-year high of $116.96.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings results on Monday, February 26th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.22. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The company had revenue of $215.40 million for the quarter, compared to analyst estimates of $204.93 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, sell-side analysts expect that Freshpet, Inc. will post 0.09 EPS for the current year.

Insider Activity

In other news, EVP Stephen Macchiaverna sold 7,130 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total value of $773,818.90. Following the sale, the executive vice president now owns 85,056 shares in the company, valued at approximately $9,231,127.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $112.02, for a total transaction of $280,050.00. Following the transaction, the chief operating officer now owns 122,380 shares in the company, valued at approximately $13,709,007.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now owns 85,056 shares in the company, valued at approximately $9,231,127.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,130 shares of company stock worth $1,338,269. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

FRPT has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Freshpet from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Oppenheimer increased their price objective on shares of Freshpet from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Truist Financial raised shares of Freshpet from a “hold” rating to a “buy” rating and increased their price objective for the stock from $120.00 to $135.00 in a research report on Monday, March 11th. Finally, DA Davidson increased their price objective on shares of Freshpet from $104.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and a consensus target price of $105.93.

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.