Trillium Asset Management LLC Makes New $2.25 Million Investment in Freshpet, Inc. $FRPT

Key Points

• Trillium Asset Management acquired 38,146 Freshpet shares worth approximately $2.25 million, representing about 0.08% of the company.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $75.31; targets range from $70 to $85.
• Freshpet exceeded quarterly expectations, reporting $0.39 in EPS versus $0.22 expected and revenue of $305.59 million, up 15.4% year over year. Meanwhile, CEO William B. Cyr sold shares valued at nearly $3.0 million.

Trillium Asset Management LLC bought a new stake in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 38,146 shares of the company's stock, valued at approximately $2,255,000. Trillium Asset Management LLC owned about 0.08% of Freshpet as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in Freshpet by 606.8% during 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 during the period. Global Retirement Partners LLC purchased a new stake in Freshpet in the second quarter worth $25,000. Motiv8 Investments LLC bought a new stake in shares of Freshpet during the fourth quarter worth $28,000. Parallel Advisors LLC boosted its stake in shares of Freshpet by 55.0% during the third quarter. Parallel Advisors LLC now owns 555 shares of the company's stock valued at $31,000 after purchasing an additional 197 shares during the period. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of Freshpet during the fourth quarter valued at $32,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Freshpet from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Morgan Stanley reissued an "equal weight" rating and issued a $72.00 price target (down from $77.00) on shares of Freshpet in a research report on Thursday, August 6th. Bank of America decreased their price objective on Freshpet from $75.00 to $70.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $70.00 target price on shares of Freshpet in a research note on Thursday, August 6th. Finally, TD Cowen boosted their target price on shares of Freshpet from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Freshpet currently has a consensus rating of "Moderate Buy" and an average target price of $75.31.

Insider Activity

In related news, CEO William B. Cyr sold 41,022 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $72.86, for a total value of $2,988,862.92. Following the completion of the transaction, the chief executive officer owned 267,152 shares in the company, valued at $19,464,694.72. This trade represents a 13.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.30% of the stock is currently owned by insiders.

Freshpet Price Performance

Shares of NASDAQ FRPT opened at $73.96 on Friday. Freshpet, Inc. has a fifty-two week low of $46.45 and a fifty-two week high of $86.00. The company has a market cap of $3.63 billion, a PE ratio of 19.46 and a beta of 1.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.03 and a current ratio of 6.05. The business has a 50-day simple moving average of $60.58 and a two-hundred day simple moving average of $62.78.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.17. The firm had revenue of $305.59 million for the quarter, compared to the consensus estimate of $292.35 million. Freshpet had a net margin of 17.28% and a return on equity of 5.97%. The company's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. As a group, equities analysts expect that Freshpet, Inc. will post 1.73 EPS for the current fiscal year.

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.

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