146,820 Shares in Freshpet, Inc. $FRPT Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors LP purchased 146,820 Freshpet shares worth approximately $8.7 million, giving it a 0.30% stake in the company.
• Analysts remain broadly optimistic, with Freshpet receiving a consensus “Moderate Buy” rating and an average price target of $74.50.
• Freshpet shares opened at $59.54, near the lower end of their 52-week range, while insider activity was mixed: executives sold substantially more shares than they purchased over the past 90 days.

First Trust Advisors LP bought a new stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 146,820 shares of the company's stock, valued at approximately $8,657,000. First Trust Advisors LP owned 0.30% of Freshpet at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Freshpet by 606.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company's stock worth $25,000 after purchasing an additional 358 shares in the last quarter. Motiv8 Investments LLC purchased a new position in shares of Freshpet in the fourth quarter valued at approximately $28,000. Signaturefd LLC grew its holdings in shares of Freshpet by 143.0% in the fourth quarter. Signaturefd LLC now owns 503 shares of the company's stock valued at $31,000 after purchasing an additional 296 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Freshpet by 55.0% in the third quarter. Parallel Advisors LLC now owns 555 shares of the company's stock valued at $31,000 after purchasing an additional 197 shares in the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new stake in Freshpet during the 4th quarter worth approximately $32,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FRPT. Morgan Stanley reiterated an "overweight" rating and set a $77.00 target price on shares of Freshpet in a report on Thursday, May 7th. Stifel Nicolaus set a $66.00 price target on shares of Freshpet in a research note on Thursday, May 7th. Wall Street Zen raised Freshpet from a "sell" rating to a "hold" rating in a research report on Sunday. TD Cowen upgraded Freshpet from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Wednesday, April 8th. Finally, Jefferies Financial Group decreased their target price on Freshpet from $75.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Freshpet presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.50.

Freshpet Stock Down 2.0%

FRPT stock opened at $59.54 on Friday. The company's 50 day moving average price is $54.84 and its 200 day moving average price is $62.55. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 15.92 and a beta of 1.60. Freshpet, Inc. has a fifty-two week low of $46.45 and a fifty-two week high of $86.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.26 and a current ratio of 6.18.

Insider Buying and Selling

In other Freshpet news, CEO William B. Cyr sold 42,907 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total value of $2,056,103.44. Following the sale, the chief executive officer directly owned 204,585 shares of the company's stock, valued at approximately $9,803,713.20. This represents a 17.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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. 4.30% of the stock is owned by company insiders.

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.

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