Emerald Advisers LLC Has $28.34 Million Stock Position in Freshpet, Inc. $FRPT

Key Points

• Emerald Advisers LLC increased its Freshpet stake by 15.2% in the first quarter, buying 63,303 additional shares and bringing its holding to 480,703 shares valued at about $28.34 million.
• Several other major investors also raised their positions, including Vanguard, William Blair, and Impax, signaling continued institutional interest in Freshpet.
• Analyst sentiment remains mostly positive: Freshpet has a Moderate Buy consensus rating with an average price target of $74.25, though insider activity was mixed with CEO William B. Cyr selling shares while a director bought shares.

Emerald Advisers LLC boosted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 15.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 480,703 shares of the company's stock after purchasing an additional 63,303 shares during the period. Emerald Advisers LLC owned about 0.98% of Freshpet worth $28,342,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JANA Partners Management LP grew its position in Freshpet by 4.1% in the third quarter. JANA Partners Management LP now owns 1,048,136 shares of the company's stock valued at $57,763,000 after acquiring an additional 41,373 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Freshpet by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 5,281,833 shares of the company's stock worth $321,822,000 after acquiring an additional 128,499 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Freshpet by 30.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,952,767 shares of the company's stock worth $118,982,000 after acquiring an additional 461,444 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of Freshpet by 100.0% in the 4th quarter. Impax Asset Management Group plc now owns 140,000 shares of the company's stock valued at $8,530,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Fortis Group Advisors LLC acquired a new stake in shares of Freshpet in the 4th quarter valued at approximately $1,722,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. DA Davidson raised shares of Freshpet to a "strong-buy" rating in a report on Monday, July 6th. Morgan Stanley restated an "overweight" rating and issued a $77.00 target price on shares of Freshpet in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $63.00 target price on shares of Freshpet in a research note on Thursday, May 7th. Wells Fargo & Company lowered their price target 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. Finally, Piper Sandler reiterated an "overweight" rating on shares of Freshpet in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Freshpet has an average rating of "Moderate Buy" and an average price target of $74.25.

Insider Activity at Freshpet

In other news, CEO William B. Cyr sold 42,495 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer owned 224,459 shares of the company's stock, valued at approximately $11,454,142.77. This trade represents a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig D. Steeneck purchased 2,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $47.83 per share, for a total transaction of $95,660.00. Following the acquisition, the director owned 37,500 shares of the company's stock, valued at $1,793,625. This trade represents a 5.63% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, 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.

Freshpet Stock Performance

Freshpet stock opened at $55.92 on Tuesday. The business has a 50 day moving average of $52.93 and a 200-day moving average of $62.93. Freshpet, Inc. has a 1 year low of $46.45 and a 1 year high of $86.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26. The company has a market capitalization of $2.75 billion, a P/E ratio of 14.95 and a beta of 1.60.

Freshpet Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.