Freshpet, Inc. $FRPT Stake Boosted by Emerald Mutual Fund Advisers Trust

Key Points

• Emerald Mutual Fund Advisers Trust increased its Freshpet stake by 19.3% in Q1, buying 48,626 more shares and bringing its total to 300,932 shares worth about $17.7 million.
• Freshpet has seen mixed insider activity: CEO William B. Cyr sold 42,907 shares in May, and insiders overall sold far more stock than they bought over the past 90 days.
• Wall Street remains generally positive on the stock, with Freshpet carrying a consensus "Moderate Buy" rating and an average price target of $74.25, despite recent analyst target changes and one sell rating.

Emerald Mutual Fund Advisers Trust raised its position in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 19.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 300,932 shares of the company's stock after buying an additional 48,626 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.61% of Freshpet worth $17,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company's stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in Freshpet during the 4th quarter valued at $28,000. Signaturefd LLC lifted its holdings in shares of Freshpet by 143.0% in the fourth quarter. Signaturefd LLC now owns 503 shares of the company's stock valued at $31,000 after purchasing an additional 296 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Freshpet by 55.0% in the third quarter. Parallel Advisors LLC now owns 555 shares of the company's stock worth $31,000 after buying an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Freshpet by 445.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company's stock valued at $32,000 after buying an additional 432 shares in the last quarter.

Freshpet Stock Performance

Shares of FRPT opened at $55.92 on Tuesday. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 14.95 and a beta of 1.60. The company's fifty day moving average is $52.93 and its 200-day moving average is $62.93. The company has a quick ratio of 5.26, a current ratio of 6.18 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a 12 month low of $46.45 and a 12 month high of $86.00.

Insider Buying and Selling

In other Freshpet news, CEO William B. Cyr sold 42,907 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total transaction of $2,056,103.44. Following the transaction, the chief executive officer directly owned 204,585 shares of the company's stock, valued at $9,803,713.20. This represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 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 insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FRPT shares. Benchmark raised their price objective on Freshpet from $90.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Stifel Nicolaus set a $66.00 price target on shares of Freshpet in a report on Thursday, May 7th. JPMorgan Chase & Co. upgraded shares of Freshpet from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $66.00 to $68.00 in a research note on Thursday, May 7th. DA Davidson raised shares of Freshpet to a "strong-buy" rating in a research note on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $63.00 price objective on shares of Freshpet in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Freshpet currently has an average rating of "Moderate Buy" and a consensus price target of $74.25.

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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