Royce & Associates LP Acquires 31,759 Shares of Freshpet, Inc. $FRPT

Royce & Associates LP raised its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 62.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,019 shares of the company’s stock after purchasing an additional 31,759 shares during the period. Royce & Associates LP’s holdings in Freshpet were worth $5,058,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FRPT. Royal Bank of Canada boosted its holdings in Freshpet by 86.3% in the 1st quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock valued at $5,624,000 after purchasing an additional 31,334 shares during the period. Jones Financial Companies Lllp boosted its holdings in Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock valued at $151,000 after purchasing an additional 1,593 shares during the period. United Services Automobile Association bought a new stake in Freshpet in the 1st quarter valued at about $247,000. EverSource Wealth Advisors LLC boosted its holdings in Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 472 shares during the period. Finally, Cresset Asset Management LLC raised its position in shares of Freshpet by 140.3% in the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock valued at $428,000 after buying an additional 3,676 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FRPT shares. JPMorgan Chase & Co. upgraded shares of Freshpet from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $66.00 to $68.00 in a research report on Thursday, May 7th. DA Davidson boosted their target price on shares of Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Oppenheimer upgraded shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Friday, March 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $63.00 target price on shares of Freshpet in a research report on Thursday, May 7th. Finally, TD Cowen upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Freshpet has a consensus rating of “Moderate Buy” and a consensus price target of $74.88.

Insider Transactions at Freshpet

In related news, CEO William B. Cyr sold 42,907 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the completion of the transaction, the chief executive officer directly owned 204,585 shares in the company, valued at $9,803,713.20. This represents a 17.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. 4.43% of the stock is currently owned by corporate insiders.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $51.60 on Friday. The firm has a 50 day moving average of $59.13 and a 200-day moving average of $64.03. The stock has a market capitalization of $2.54 billion, a PE ratio of 13.80 and a beta of 1.73. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a 12 month low of $46.45 and a 12 month high of $86.00.

Freshpet Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.