Truist Financial Corp Acquires 13,506 Shares of Freshpet, Inc. $FRPT

Key Points

• Truist Financial Corp increased its investment in Freshpet, acquiring an additional 13,506 shares, bringing their total holdings to 22,738 shares worth approximately $1.55 million.
• Several institutional investors, including Banque Transatlantique SA and Jones Financial Companies, have also significantly increased their positions in Freshpet this year, showcasing growing institutional interest.
• Freshpet's recent earnings report showed an increase in revenue by 12.5% year-over-year and a notable EPS of $0.33, surpassing analyst expectations.

Truist Financial Corp boosted its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 146.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,738 shares of the company's stock after acquiring an additional 13,506 shares during the quarter. Truist Financial Corp's holdings in Freshpet were worth $1,545,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in Freshpet during the 1st quarter worth approximately $25,000. WPG Advisers LLC bought a new stake in Freshpet during the 1st quarter worth approximately $34,000. Larson Financial Group LLC grew its holdings in Freshpet by 1,585.0% during the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock worth $56,000 after acquiring an additional 634 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Freshpet by 283.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,458 shares of the company's stock valued at $99,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Freshpet by 734.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company's stock valued at $151,000 after purchasing an additional 1,593 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Freshpet from $65.00 to $48.00 and set a "sell" rating on the stock in a research note on Monday, September 8th. Zacks Research raised shares of Freshpet from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. assumed coverage on shares of Freshpet in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $70.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Freshpet from $88.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Freshpet in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Freshpet currently has an average rating of "Moderate Buy" and an average target price of $103.33.

Freshpet Stock Performance

FRPT opened at $48.35 on Friday. The company has a current ratio of 4.81, a quick ratio of 3.75 and a debt-to-equity ratio of 0.40. The company's fifty day moving average price is $56.30 and its two-hundred day moving average price is $69.41. Freshpet, Inc. has a 1-year low of $46.76 and a 1-year high of $164.07. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 72.16, a PEG ratio of 1.05 and a beta of 1.74.

Freshpet (NASDAQ:FRPT - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating 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 firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Freshpet has set its FY 2025 guidance at EPS. On average, analysts expect that Freshpet, Inc. will post 1.55 EPS for the current fiscal year.

Insider Activity

In other news, Director Walter N. George bought 1,000 shares of the stock in a transaction dated Monday, September 8th. The stock was bought at an average price of $52.57 per share, for a total transaction of $52,570.00. Following the completion of the acquisition, the director directly owned 46,527 shares in the company, valued at approximately $2,445,924.39. This trade represents a 2.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jacki Sue Kelley purchased 814 shares of Freshpet stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average price of $56.50 per share, with a total value of $45,991.00. Following the transaction, the director owned 11,907 shares of the company's stock, valued at $672,745.50. This trade represents a 7.34% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 6,008 shares of company stock worth $332,305 over the last quarter. 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.

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