Park Avenue Securities LLC Has $648,000 Stake in Freshpet, Inc. $FRPT

Key Points

• Park Avenue Securities LLC significantly increased its stake in Freshpet, Inc. by 139.2% in the second quarter, now owning 9,541 shares valued at $648,000.
• Multiple hedge funds, including Diversified Trust Co and Wealth Enhancement Advisory Services LLC, expanded their investments in Freshpet during the same quarter, highlighting growing interest in the company.
• Analysts have set various price targets for Freshpet, with a consensus rating of “Hold” and an average target price of $106.43, indicating mixed investor sentiment.

Park Avenue Securities LLC lifted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 139.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,541 shares of the company's stock after purchasing an additional 5,553 shares during the quarter. Park Avenue Securities LLC's holdings in Freshpet were worth $648,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co grew its stake in Freshpet by 49.1% in the second quarter. Diversified Trust Co now owns 20,047 shares of the company's stock valued at $1,362,000 after purchasing an additional 6,600 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Freshpet by 148.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,712 shares of the company's stock valued at $984,000 after acquiring an additional 8,187 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in Freshpet in the 2nd quarter valued at $272,000. E. Ohman J or Asset Management AB raised its holdings in shares of Freshpet by 38.1% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 18,136 shares of the company's stock worth $1,233,000 after buying an additional 5,000 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Freshpet by 131.0% during the 1st quarter. Rhumbline Advisers now owns 106,438 shares of the company's stock worth $8,852,000 after buying an additional 60,352 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on FRPT shares. DA Davidson set a $101.00 price target on Freshpet in a research report on Thursday, August 7th. Wall Street Zen upgraded Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Stifel Nicolaus set a $90.00 target price on Freshpet and gave the company a "buy" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. initiated coverage on Freshpet in a report on Wednesday, August 20th. They set a "neutral" rating and a $70.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Freshpet from $88.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $106.43.

Insider Activity

In related news, Director Timothy R. Mclevish purchased 3,500 shares of Freshpet stock in a transaction dated Wednesday, September 10th. The stock was bought at an average cost of $56.00 per share, for a total transaction of $196,000.00. Following the completion of the transaction, the director owned 35,290 shares in the company, valued at $1,976,240. This trade represents a 11.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter N. George purchased 1,000 shares of Freshpet stock in a transaction dated Monday, September 8th. The stock was bought at an average price of $52.57 per share, with a total value of $52,570.00. Following the completion of the transaction, the director owned 46,527 shares of the company's stock, valued at $2,445,924.39. This represents a 2.20% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 6,008 shares of company stock worth $332,305. 4.43% of the stock is owned by corporate insiders.

Freshpet Stock Performance

Shares of FRPT opened at $49.68 on Monday. The firm has a market cap of $2.42 billion, a PE ratio of 74.15, a PEG ratio of 0.92 and a beta of 1.72. The stock's fifty day moving average price is $59.95 and its two-hundred day moving average price is $71.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.81 and a quick ratio of 3.75. Freshpet, Inc. has a 1 year low of $48.41 and a 1 year high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.21. The firm had revenue of $264.69 million for 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 business's revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Freshpet, Inc. will post 1.55 EPS for the current year.

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.

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