Dimensional Fund Advisors LP Increases Position in Freshpet, Inc. $FRPT

Key Points

• Dimensional Fund Advisors increased its Freshpet position by 9.3% in the first quarter, adding 78,196 shares to own 917,785 shares valued at approximately $54.1 million, or 1.87% of the company.
• Freshpet CEO William B. Cyr sold 42,907 shares for about $2.06 million, reducing his ownership by 17.34%. Insiders have sold approximately $11.7 million worth of shares over the past 90 days.
• Freshpet shares opened at $59.54, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $74.50, despite several recent target-price reductions.

Dimensional Fund Advisors LP lifted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 917,785 shares of the company's stock after acquiring an additional 78,196 shares during the quarter. Dimensional Fund Advisors LP owned 1.87% of Freshpet worth $54,103,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Optimize Financial Inc grew its stake in Freshpet by 1.4% in the 4th quarter. Optimize Financial Inc now owns 10,957 shares of the company's stock valued at $668,000 after purchasing an additional 156 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Freshpet by 1.5% during 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 stake in shares of Freshpet by 55.0% during 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 boosted its holdings in shares of 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 buying an additional 214 shares during the last quarter. Finally, Ossiam boosted its holdings in shares of Freshpet by 81.1% in the 2nd quarter. Ossiam now owns 509 shares of the company's stock worth $35,000 after buying an additional 228 shares during the last quarter.

Insider Activity at Freshpet

In other news, CEO William B. Cyr sold 42,907 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 204,585 shares of the company's stock, valued at approximately $9,803,713.20. This represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 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.

Freshpet Stock Performance

NASDAQ FRPT opened at $59.54 on Friday. Freshpet, Inc. has a 12-month low of $46.45 and a 12-month high of $86.00. The company's 50 day moving average is $54.84 and its 200-day moving average is $62.55. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.93 billion, a P/E ratio of 15.92 and a beta of 1.60.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FRPT. Wells Fargo & Company decreased their price objective on shares of Freshpet from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, July 8th. Bank of America reduced their target price on shares of Freshpet from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $63.00 price target on shares of Freshpet in a research note on Thursday, May 7th. Stifel Nicolaus set a $66.00 price target on shares of Freshpet in a report on Thursday, May 7th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Freshpet in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $74.50.

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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