Pier Capital LLC Buys 37,344 Shares of Freshpet, Inc. $FRPT

Key Points

• Pier Capital LLC boosted its position in Freshpet by 56.6% in Q3, acquiring 37,344 shares to hold 103,309 shares (about 0.21% of the company) valued at $5.693 million.
• Freshpet beat EPS expectations in the latest quarter ($0.64 vs. $0.43) with revenue up 8.6% year‑over‑year, and several analysts have raised price targets (e.g., Wells Fargo to $90, DA Davidson to $98) while the MarketBeat consensus remains a "Hold" with an average target of $76.47.

Pier Capital LLC grew its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 56.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,309 shares of the company's stock after purchasing an additional 37,344 shares during the period. Pier Capital LLC owned about 0.21% of Freshpet worth $5,693,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. State of Wyoming acquired a new stake in shares of Freshpet during the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its position in Freshpet by 1,388.2% in the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company's stock valued at $34,000 after buying an additional 472 shares in the last quarter. Ossiam grew its stake in Freshpet by 81.1% during the second quarter. Ossiam now owns 509 shares of the company's stock worth $35,000 after buying an additional 228 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Freshpet by 258.9% during the second quarter. Smartleaf Asset Management LLC now owns 542 shares of the company's stock worth $37,000 after buying an additional 391 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Freshpet by 55.0% during the third quarter. Parallel Advisors LLC now owns 555 shares of the company's stock worth $31,000 after buying an additional 197 shares in the last quarter.

Freshpet Price Performance

FRPT opened at $78.04 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.57. The stock has a market capitalization of $3.83 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 2.46 and a beta of 1.66. The company's 50 day simple moving average is $71.84 and its 200-day simple moving average is $61.47. Freshpet, Inc. has a one year low of $46.76 and a one year high of $91.25.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.21. The firm had revenue of $285.23 million for the quarter, compared to the consensus estimate of $285.66 million. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. Sell-side analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FRPT. JPMorgan Chase & Co. boosted their target price on Freshpet from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Wells Fargo & Company raised their price target on Freshpet from $82.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Stephens reiterated an "overweight" rating and issued a $90.00 price objective on shares of Freshpet in a research report on Tuesday, February 24th. DA Davidson set a $98.00 price objective on Freshpet in a research note on Wednesday, February 25th. Finally, Zacks Research upgraded Freshpet from a "strong sell" rating to a "hold" rating in a report on Tuesday, November 18th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Freshpet has a consensus rating of "Hold" and an average target price of $76.47.

About Freshpet

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.