WCM Investment Management LLC Sells 38,045 Shares of Freshpet, Inc. $FRPT

Key Points

• WCM Investment Management LLC reduced its stake in Freshpet, Inc. by 1.4%, selling 38,045 shares, and now holds approximately 5.68% of the company, valued at $189.65 million.
• Several institutional investors have recently increased their stakes in Freshpet, with notable boosts from Larson Financial Group, Blue Trust Inc., and GAMMA Investing LLC in the first and second quarters.
• Freshpet's latest quarterly earnings reported an EPS of $0.33, exceeding estimates, while revenues increased by 12.5% year-over-year to $264.69 million.

WCM Investment Management LLC decreased its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,773,090 shares of the company's stock after selling 38,045 shares during the quarter. WCM Investment Management LLC owned approximately 5.68% of Freshpet worth $189,652,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FRPT. Banque Transatlantique SA purchased a new position in shares of Freshpet in the 1st quarter worth about $25,000. WPG Advisers LLC purchased a new position in shares of Freshpet in the 1st quarter worth about $34,000. Larson Financial Group LLC boosted its holdings in shares of Freshpet by 1,585.0% in the 1st quarter. Larson Financial Group LLC now owns 674 shares of the company's stock worth $56,000 after buying an additional 634 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Freshpet by 100.7% in the 2nd quarter. Blue Trust Inc. now owns 833 shares of the company's stock worth $57,000 after buying an additional 418 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Freshpet by 283.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,458 shares of the company's stock worth $99,000 after buying an additional 1,078 shares during the last quarter.

Insider Transactions at Freshpet

In other news, Director Timothy R. Mclevish purchased 3,500 shares of the stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average cost of $56.00 per share, with a total value of $196,000.00. Following the completion of the acquisition, the director owned 35,290 shares in the company, valued at $1,976,240. This represents a 11.01% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jacki Sue Kelley purchased 814 shares of the stock in a transaction dated Tuesday, September 9th. The stock was purchased 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 position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 6,008 shares of company stock valued at $332,305. 4.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FRPT shares. Truist Financial cut their price target on shares of Freshpet from $80.00 to $70.00 and set a "hold" rating on the stock in a report on Tuesday, August 5th. UBS Group cut their price target on shares of Freshpet from $65.00 to $48.00 and set a "sell" rating on the stock in a report on Monday, September 8th. JPMorgan Chase & Co. started coverage on shares of Freshpet in a report on Wednesday, August 20th. They issued a "neutral" rating and a $70.00 price target on the stock. Benchmark reissued a "buy" rating and issued a $95.00 price target (down from $120.00) on shares of Freshpet in a report on Tuesday, August 5th. Finally, Bank of America reaffirmed a "neutral" rating and set a $60.00 price objective (down from $81.00) on shares of Freshpet in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.33.

Freshpet Price Performance

NASDAQ FRPT opened at $51.55 on Thursday. The company has a market cap of $2.51 billion, a PE ratio of 76.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.74. Freshpet, Inc. has a 52 week low of $46.76 and a 52 week high of $164.07. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. The firm's 50-day simple moving average is $55.31 and its two-hundred day simple moving average is $68.79.

Freshpet (NASDAQ:FRPT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.12 by $0.21. The business had revenue of $264.69 million for 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 was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. 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.

Freshpet Profile

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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