Public Employees Retirement System of Ohio Acquires 12,180 Shares of Freshpet, Inc. $FRPT

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Freshpet, Inc. by 30.2%, acquiring an additional 12,180 shares, bringing its total ownership to 52,511 shares valued at approximately $3.57 million.
• Freshpet reported an earnings per share (EPS) of $0.33 for the last quarter, exceeding analysts' expectations of $0.12, despite revenue falling short of estimates at $264.69 million.
• Analysts have mixed outlooks on Freshpet's stock, with an average target price of $106.43 and ratings ranging from buy to sell among various brokerages.

Public Employees Retirement System of Ohio increased its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 30.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,511 shares of the company's stock after buying an additional 12,180 shares during the period. Public Employees Retirement System of Ohio owned about 0.11% of Freshpet worth $3,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in Freshpet by 283.7% in the second quarter. GAMMA Investing LLC now owns 1,458 shares of the company's stock worth $99,000 after buying an additional 1,078 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Freshpet by 139.2% during the second quarter. Park Avenue Securities LLC now owns 9,541 shares of the company's stock worth $648,000 after purchasing an additional 5,553 shares in the last quarter. Diversified Trust Co increased its position in shares of Freshpet by 49.1% during the second quarter. Diversified Trust Co now owns 20,047 shares of the company's stock worth $1,362,000 after purchasing an additional 6,600 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Freshpet by 148.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,712 shares of the company's stock worth $984,000 after purchasing an additional 8,187 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Freshpet during the second quarter worth $272,000.

Freshpet Price Performance

Shares of FRPT opened at $55.11 on Wednesday. The company has a market capitalization of $2.69 billion, a P/E ratio of 82.25, a P/E/G ratio of 0.97 and a beta of 1.72. The business's 50-day moving average is $59.27 and its two-hundred day moving average is $71.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.75 and a current ratio of 4.81. Freshpet, Inc. has a fifty-two week low of $48.41 and a fifty-two week high of $164.07.

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

Insider Transactions at Freshpet

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FRPT. Benchmark reaffirmed a "buy" rating and set a $95.00 price target (down from $120.00) on shares of Freshpet in a research report on Tuesday, August 5th. DA Davidson set a $101.00 price target on Freshpet in a research report on Thursday, August 7th. UBS Group reduced their price target on Freshpet from $65.00 to $48.00 and set a "sell" rating on the stock in a research report on Monday, September 8th. Stifel Nicolaus set a $90.00 target price on Freshpet and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. assumed coverage on Freshpet in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $70.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the 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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