Freshpet, Inc. $FRPT Shares Sold by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. reduced its stake in Freshpet, Inc. by 33.2% during the second quarter, selling 5,834 shares, leaving it with 11,724 shares valued at approximately $797,000.
• Freshpet reported a 12.5% increase in revenue year-over-year for the quarter, achieving an earnings per share of $0.33, which surpassed the consensus estimate by $0.21.
• Analysts have mixed views on Freshpet, with eight ratings for "Buy," six for "Hold," and one "Sell," and a consensus target price of $106.43 despite recent price target cuts from notable firms.

Lecap Asset Management Ltd. lessened its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 33.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,724 shares of the company's stock after selling 5,834 shares during the period. Lecap Asset Management Ltd.'s holdings in Freshpet were worth $797,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in shares of Freshpet in the 1st quarter worth $25,000. WPG Advisers LLC acquired a new stake in shares of Freshpet in the 1st quarter worth $34,000. Larson Financial Group LLC lifted its stake in shares of Freshpet by 1,585.0% in the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock worth $56,000 after acquiring an additional 634 shares during the period. GAMMA Investing LLC lifted its stake in shares of Freshpet by 283.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,458 shares of the company's stock worth $99,000 after acquiring an additional 1,078 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company's stock worth $151,000 after acquiring an additional 1,593 shares during the period.

Freshpet Stock Performance

NASDAQ:FRPT opened at $53.30 on Friday. The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $58.49 and a two-hundred day moving average price of $70.97. Freshpet, Inc. has a twelve month low of $48.41 and a twelve month high of $164.07. The company has a market capitalization of $2.60 billion, a P/E ratio of 79.55, a price-to-earnings-growth ratio of 0.98 and a beta of 1.74.

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

Insider Transactions at Freshpet

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

Analysts Set New Price Targets

FRPT has been the subject of a number of research analyst reports. DA Davidson set a $101.00 price target on shares of Freshpet in a report on Thursday, August 7th. UBS Group cut their price target on shares of Freshpet from $65.00 to $48.00 and set a "sell" rating for the company in a report on Monday, September 8th. Wall Street Zen upgraded shares of Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company cut their price target on shares of Freshpet from $88.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Finally, Truist Financial cut their price target on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $106.43.

About Freshpet

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.

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