Armistice Capital LLC Raises Position in Freshpet, Inc. $FRPT

Armistice Capital LLC increased its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 5.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,296,000 shares of the company’s stock after acquiring an additional 61,198 shares during the quarter. Freshpet accounts for 0.9% of Armistice Capital LLC’s investment portfolio, making the stock its 13th largest holding. Armistice Capital LLC’s holdings in Freshpet were worth $78,965,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Optimize Financial Inc raised its position in Freshpet by 1.4% in the 4th quarter. Optimize Financial Inc now owns 10,957 shares of the company’s stock worth $668,000 after purchasing an additional 156 shares during the period. Oregon Public Employees Retirement Fund raised its position in Freshpet by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,164 shares of the company’s stock worth $680,000 after purchasing an additional 161 shares during the period. Parallel Advisors LLC raised its position in Freshpet by 55.0% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after purchasing an additional 197 shares during the period. Smartleaf Asset Management LLC raised its position in Freshpet by 32.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 882 shares of the company’s stock worth $53,000 after purchasing an additional 214 shares during the period. Finally, Ossiam increased its position in shares of Freshpet by 81.1% in the second quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after acquiring an additional 228 shares during the period.

Analyst Ratings Changes

A number of equities analysts have issued reports on FRPT shares. TD Cowen upgraded shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upgraded shares of Freshpet from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $66.00 to $68.00 in a research report on Thursday, May 7th. Wells Fargo & Company decreased their price objective on shares of Freshpet from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Stephens restated an “overweight” rating and issued a $90.00 price objective on shares of Freshpet in a research report on Tuesday, February 24th. Finally, DA Davidson boosted their price objective 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. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Freshpet currently has an average rating of “Moderate Buy” and a consensus price target of $74.88.

Freshpet Price Performance

FRPT stock opened at $55.66 on Thursday. The firm’s 50-day moving average price is $57.00 and its two-hundred day moving average price is $63.86. Freshpet, Inc. has a 12-month low of $46.45 and a 12-month high of $86.00. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.88 and a beta of 1.63. The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34.

Insider Transactions at Freshpet

In related news, Director Craig D. Steeneck bought 2,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $47.83 per share, with a total value of $95,660.00. Following the purchase, the director owned 37,500 shares of the company’s stock, valued at approximately $1,793,625. This trade represents a 5.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William B. Cyr sold 42,495 shares of Freshpet stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $51.03, for a total transaction of $2,168,519.85. Following the sale, the chief executive officer directly owned 224,459 shares in the company, valued at $11,454,142.77. The trade was a 15.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 4,211 shares of company stock worth $215,027 and have sold 235,262 shares worth $11,664,591. Insiders own 4.30% of the company’s stock.

About Freshpet

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.