21,019 Shares in Freshpet, Inc. $FRPT Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 21,019 Freshpet shares in the second quarter, worth approximately $1.24 million. Several other institutional investors also increased their positions, including Wasatch Advisors, Balyasny Asset Management, Armistice Capital and Alyeska Investment Group.
• Freshpet reported stronger-than-expected quarterly results, with earnings of $0.39 per share versus the $0.22 consensus estimate and revenue of $305.6 million, up 15.4% year over year.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $75.31, although insiders—including the CEO—have sold shares recently.

Jupiter Topco LLC bought a new stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 21,019 shares of the company's stock, valued at approximately $1,242,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FRPT. William Blair Investment Management LLC purchased a new stake in shares of Freshpet during the 2nd quarter valued at $107,066,000. Wasatch Advisors LP increased its stake in Freshpet by 41.0% in the second quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company's stock valued at $260,921,000 after acquiring an additional 1,116,217 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Freshpet by 1,031.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 931,905 shares of the company's stock valued at $56,781,000 after purchasing an additional 1,031,905 shares in the last quarter. Armistice Capital LLC lifted its stake in Freshpet by 118.4% during the third quarter. Armistice Capital LLC now owns 1,234,802 shares of the company's stock worth $68,050,000 after purchasing an additional 669,399 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Freshpet by 122.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,197,317 shares of the company's stock worth $72,953,000 after purchasing an additional 658,114 shares during the last quarter.

Freshpet Stock Up 0.8%

FRPT stock opened at $70.24 on Friday. Freshpet, Inc. has a 1-year low of $46.45 and a 1-year high of $86.00. The business has a fifty day moving average price of $64.10 and a 200-day moving average price of $63.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.05 and a quick ratio of 5.03. The stock has a market capitalization of $3.45 billion, a P/E ratio of 18.48 and a beta of 1.66.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.22 by $0.17. Freshpet had a return on equity of 5.97% and a net margin of 17.28%.The company had revenue of $305.59 million for the quarter, compared to analysts' expectations of $292.35 million. During the same period last year, the firm posted $0.33 earnings per share. Freshpet's revenue was up 15.4% compared to the same quarter last year. Equities analysts forecast that Freshpet, Inc. will post 1.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William Cyr sold 2,657 shares of Freshpet stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $75.40, for a total value of $200,337.80. Following the completion of the sale, the chief executive officer directly owned 49,044 shares in the company, valued at $3,697,917.60. The trade was a 5.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 171,636 shares of company stock worth $12,754,864. Company insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

FRPT has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Freshpet from $66.00 to $78.00 and gave the company a "buy" rating in a report on Thursday, August 6th. TD Cowen increased their price target on shares of Freshpet from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Bank of America decreased their price target on shares of Freshpet from $75.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. Morgan Stanley restated an "equal weight" rating and issued a $72.00 price objective (down from $77.00) on shares of Freshpet in a report on Thursday, August 6th. Finally, Benchmark reaffirmed a "buy" rating on shares of Freshpet in a research note on Wednesday, August 19th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $75.31.

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.

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