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William Blair Investment Management LLC Grows Position in Freshpet, Inc. $FRPT

Freshpet logo with Consumer Staples background

Key Points

  • William Blair Investment Management LLC increased its holdings in Freshpet, Inc. by 20.6% in Q2, now owning 3.13% of the company, worth approximately $103.78 million.
  • Several analysts have given mixed ratings to Freshpet stock, with a consensus rating of "Moderate Buy" and a price target averaging $103.33.
  • Freshpet reported earnings of $0.33 per share in its latest quarter, exceeding expectations, while revenue rose 12.5% year-over-year.
  • MarketBeat previews the top five stocks to own by November 1st.

William Blair Investment Management LLC grew its holdings in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 20.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,527,068 shares of the company's stock after buying an additional 260,868 shares during the quarter. William Blair Investment Management LLC owned 3.13% of Freshpet worth $103,780,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Freshpet by 12.3% during the first quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company's stock worth $434,455,000 after buying an additional 571,139 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Freshpet by 8.1% during the 1st quarter. Wellington Management Group LLP now owns 2,616,205 shares of the company's stock valued at $217,590,000 after acquiring an additional 196,882 shares during the period. Champlain Investment Partners LLC grew its position in Freshpet by 9.6% in the 1st quarter. Champlain Investment Partners LLC now owns 1,815,884 shares of the company's stock valued at $151,027,000 after acquiring an additional 158,416 shares in the last quarter. Riverbridge Partners LLC boosted its stake in shares of Freshpet by 23.2% in the second quarter. Riverbridge Partners LLC now owns 1,264,959 shares of the company's stock valued at $85,967,000 after purchasing an additional 238,130 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in shares of Freshpet by 3.3% in the first quarter. Raymond James Financial Inc. now owns 760,602 shares of the company's stock valued at $63,259,000 after purchasing an additional 24,131 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on FRPT. Benchmark reissued a "buy" rating and issued a $95.00 price target (down previously from $120.00) on shares of Freshpet in a research report on Tuesday, August 5th. JPMorgan Chase & Co. initiated coverage on shares of Freshpet in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $70.00 price objective on the stock. Bank of America reiterated a "neutral" rating and issued a $60.00 price objective (down previously from $81.00) on shares of Freshpet in a report on Wednesday, October 8th. UBS Group dropped their price target 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. Finally, Zacks Research raised Freshpet from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $103.33.

Read Our Latest Report on FRPT

Freshpet Stock Down 4.4%

Shares of NASDAQ:FRPT opened at $51.29 on Friday. The stock's fifty day simple moving average is $54.88 and its 200-day simple moving average is $68.36. 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 company has a market capitalization of $2.50 billion, a P/E ratio of 76.55, a P/E/G ratio of 1.20 and a beta of 1.74. Freshpet, Inc. has a 52-week low of $46.76 and a 52-week high of $164.07.

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

Insiders Place Their Bets

In other news, Director Walter N. George purchased 1,000 shares of the company's stock in a transaction on Monday, September 8th. The shares were bought at an average price of $52.57 per share, for a total transaction of $52,570.00. Following the completion of the purchase, the director owned 46,527 shares of the company's stock, valued at $2,445,924.39. This trade represents a 2.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jacki Sue Kelley purchased 814 shares of Freshpet stock in a transaction on Tuesday, September 9th. The shares were acquired at an average price of $56.50 per share, with a total value of $45,991.00. Following the transaction, the director directly owned 11,907 shares in the company, 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 acquired a total of 6,008 shares of company stock valued at $332,305 over the last 90 days. 4.43% of the stock is owned by company insiders.

Freshpet Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Freshpet (NASDAQ:FRPT)

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