Freshpet, Inc. $FRPT Shares Acquired by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC increased its stake in Freshpet, Inc. by 23.2%, acquiring a total of 1,264,959 shares valued at approximately $85.97 million.
• Insider transactions included Director Jacki Sue Kelley buying 814 shares at $56.50 each, and Director Timothy R. Mclevish purchasing 3,500 shares at $56.00, representing significant increases in their ownership.
• Freshpet reported earnings of $0.33 per share for Q2, surpassing analysts' expectations, with revenues up 12.5% year-over-year despite a slight miss on revenue estimates.

Riverbridge Partners LLC lifted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,264,959 shares of the company's stock after buying an additional 238,130 shares during the quarter. Freshpet makes up approximately 1.4% of Riverbridge Partners LLC's investment portfolio, making the stock its 26th largest position. Riverbridge Partners LLC owned approximately 2.59% of Freshpet worth $85,967,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FRPT. Banque Transatlantique SA acquired a new position in Freshpet in the 1st quarter valued at $25,000. WPG Advisers LLC acquired a new stake in shares of Freshpet during the 1st quarter worth about $34,000. Larson Financial Group LLC increased its position in shares of Freshpet by 1,585.0% during the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock worth $56,000 after purchasing an additional 634 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Freshpet by 283.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,458 shares of the company's stock worth $99,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Freshpet by 734.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company's stock valued at $151,000 after acquiring an additional 1,593 shares during the period.

Insider Activity

In related news, Director Jacki Sue Kelley bought 814 shares of the stock in a transaction dated Tuesday, September 9th. The stock was acquired at an average price of $56.50 per share, for a total transaction of $45,991.00. Following the completion of the purchase, the director owned 11,907 shares in the company, valued at $672,745.50. This represents a 7.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy R. Mclevish bought 3,500 shares of the stock in a transaction dated Wednesday, September 10th. The stock was bought at an average price of $56.00 per share, with a total value of $196,000.00. Following the purchase, the director owned 35,290 shares of the company's stock, valued at approximately $1,976,240. This represents a 11.01% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 6,008 shares of company stock worth $332,305. 4.43% of the stock is currently owned by corporate insiders.

Freshpet Stock Performance

Shares of NASDAQ:FRPT opened at $49.40 on Thursday. The firm has a market capitalization of $2.41 billion, a PE ratio of 73.73, a P/E/G ratio of 0.91 and a beta of 1.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.81 and a quick ratio of 3.75. The business has a 50-day moving average of $60.82 and a two-hundred day moving average of $72.39. Freshpet, Inc. has a 12 month low of $49.10 and a 12 month high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.12 by $0.21. The company had revenue of $264.69 million during the quarter, compared to analyst estimates of $269.75 million. Freshpet had a return on equity of 4.82% and a net margin of 3.23%.The firm's revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FRPT shares. DA Davidson set a $101.00 target price on Freshpet in a report on Thursday, August 7th. Wells Fargo & Company decreased their target price on Freshpet from $100.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, July 9th. Stifel Nicolaus set a $90.00 price objective on Freshpet and gave the company a "buy" rating in a research note on Thursday, June 12th. Truist Financial reduced their price objective on Freshpet from $80.00 to $70.00 and set a "hold" rating for the company in a research note on Tuesday, August 5th. Finally, Benchmark reissued a "buy" rating and issued a $95.00 target price (down previously from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Freshpet currently has an average rating of "Hold" and a consensus price target of $108.07.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

Want to see what other hedge funds are holding FRPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshpet, Inc. (NASDAQ:FRPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.