Rhumbline Advisers Has $8.85 Million Stake in Freshpet, Inc. $FRPT

Key Points

• Rhumbline Advisers increased its stake in Freshpet, Inc. by 131.0% in the first quarter, owning 106,438 shares valued at $8.85 million.
• Freshpet reported earnings of $0.33 per share, exceeding estimates, with a revenue of $264.69 million, marking a 12.5% year-over-year increase.
• Analysts have mixed ratings on Freshpet, with a consensus target price of $108.07 and a consensus rating of "Hold".

Rhumbline Advisers increased its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 131.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 106,438 shares of the company's stock after purchasing an additional 60,352 shares during the period. Rhumbline Advisers owned 0.22% of Freshpet worth $8,852,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Transatlantique SA bought a new position in Freshpet during the first quarter worth about $25,000. Elequin Capital LP bought a new position in Freshpet during the fourth quarter worth about $29,000. WPG Advisers LLC bought a new position in Freshpet during the first quarter worth about $34,000. Larson Financial Group LLC grew its holdings in Freshpet by 1,585.0% during the first quarter. Larson Financial Group LLC now owns 674 shares of the company's stock worth $56,000 after purchasing an additional 634 shares during the period. Finally, Morse Asset Management Inc bought a new position in Freshpet during the fourth quarter worth about $70,000.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Freshpet from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. TD Cowen cut Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price objective for the company. in a report on Wednesday, May 28th. JPMorgan Chase & Co. initiated coverage on Freshpet in a report on Wednesday, August 20th. They set a "neutral" rating and a $70.00 price objective for the company. Stifel Nicolaus set a $90.00 price objective on Freshpet and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, DA Davidson set a $101.00 price objective on Freshpet in a report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $108.07.

Freshpet Price Performance

Shares of NASDAQ:FRPT traded up $0.48 during trading on Tuesday, hitting $52.95. 669,676 shares of the company were exchanged, compared to its average volume of 1,361,689. The business's 50 day moving average is $63.40 and its 200-day moving average is $74.20. The company has a market capitalization of $2.58 billion, a P/E ratio of 79.14, a price-to-earnings-growth ratio of 0.97 and a beta of 1.72. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. Freshpet, Inc. has a 1-year low of $52.09 and a 1-year high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.21. The company 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 company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. Equities analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Insider Buying and Selling at Freshpet

In related news, Director Jacki Sue Kelley purchased 814 shares of the stock in a transaction dated Tuesday, September 9th. The stock was bought at an average cost of $56.50 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy R. Mclevish purchased 3,500 shares of the stock in a transaction dated Wednesday, September 10th. The shares were bought at an average price of $56.00 per share, with a total value of $196,000.00. Following the completion of the acquisition, the director directly owned 35,290 shares of the company's stock, valued at approximately $1,976,240. This represents a 11.01% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 4,630 shares of company stock valued at $259,656 over the last quarter. Company insiders own 4.43% of the company's stock.

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.