TimesSquare Capital Management LLC Purchases 37,524 Shares of Freshpet, Inc. $FRPT

TimesSquare Capital Management LLC lifted its stake in Freshpet, Inc. (NASDAQ:FRPT) by 26.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 179,324 shares of the company’s stock after purchasing an additional 37,524 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Freshpet were worth $12,187,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA acquired a new position in Freshpet in the 1st quarter worth approximately $25,000. WPG Advisers LLC acquired a new stake in Freshpet in the 1st quarter valued at about $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Freshpet during the 2nd quarter worth $35,000. Larson Financial Group LLC increased its holdings in shares of Freshpet by 1,585.0% during the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company’s stock worth $56,000 after buying an additional 634 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Freshpet by 100.7% in the second quarter. Blue Trust Inc. now owns 833 shares of the company’s stock valued at $57,000 after acquiring an additional 418 shares during the last quarter.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $55.67 on Thursday. The stock’s 50-day simple moving average is $53.11 and its 200-day simple moving average is $65.27. The firm has a market capitalization of $2.72 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 0.75 and a beta of 1.76. Freshpet, Inc. has a fifty-two week low of $46.76 and a fifty-two week high of $164.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.61 and a current ratio of 5.52.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $0.43 by $1.43. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The business had revenue of $288.85 million during the quarter, compared to the consensus estimate of $283.73 million. During the same quarter in the previous year, the firm earned $0.24 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FRPT has been the topic of a number of recent analyst reports. UBS Group set a $48.00 target price on shares of Freshpet and gave the company a “sell” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Freshpet in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on shares of Freshpet from $88.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. DA Davidson cut their target price on shares of Freshpet from $101.00 to $83.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Finally, Truist Financial decreased their price target on shares of Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Freshpet currently has a consensus rating of “Hold” and an average price target of $84.43.

Insider Transactions at Freshpet

In other Freshpet news, Director Walter N. George purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average price of $52.57 per share, for a total transaction of $52,570.00. Following the purchase, the director directly owned 46,527 shares in the company, valued at approximately $2,445,924.39. This trade represents a 2.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott James Morris sold 63,135 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $55.21, for a total transaction of $3,485,683.35. Following the completion of the sale, the president directly owned 160,476 shares of the company’s stock, valued at $8,859,879.96. The trade was a 28.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired a total of 6,008 shares of company stock valued at $332,305 over the last ninety days. 4.43% of the stock is owned by insiders.

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.