Contravisory Investment Management Inc. Sells 100 Shares of Freshpet, Inc. (NASDAQ:FRPT)

by · The Markets Daily

Contravisory Investment Management Inc. lowered its stake in shares of Freshpet, Inc. (NASDAQ:FRPT – Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,100 shares of the company’s stock after selling 100 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Freshpet were worth $424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FRPT. Vanguard Group Inc. increased its position in Freshpet by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock valued at $540,650,000 after acquiring an additional 13,709 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Freshpet by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 923,507 shares of the company’s stock worth $119,492,000 after acquiring an additional 22,759 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Freshpet by 24.4% during the second quarter. Driehaus Capital Management LLC now owns 721,288 shares of the company’s stock valued at $93,327,000 after acquiring an additional 141,615 shares in the last quarter. Sei Investments Co. grew its stake in Freshpet by 4.4% in the first quarter. Sei Investments Co. now owns 249,021 shares of the company’s stock worth $28,852,000 after purchasing an additional 10,456 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Freshpet by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 216,155 shares of the company’s stock worth $18,754,000 after purchasing an additional 4,385 shares during the period.

Insider Buying and Selling at Freshpet

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Freshpet Stock Performance

Shares of FRPT stock opened at $141.98 on Friday. The business has a fifty day moving average of $135.72 and a 200 day moving average of $126.30. Freshpet, Inc. has a 1 year low of $54.60 and a 1 year high of $144.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 283.97 and a beta of 1.39.

Freshpet (NASDAQ:FRPT – Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.06. The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. As a group, research analysts expect that Freshpet, Inc. will post 0.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on FRPT shares. Wells Fargo & Company upped their price objective on shares of Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Robert W. Baird increased their price objective on shares of Freshpet from $140.00 to $157.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Benchmark reissued a “buy” rating and set a $150.00 price objective on shares of Freshpet in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $150.00 price target on shares of Freshpet in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.87.

Check Out Our Latest Stock Analysis on FRPT

About Freshpet

(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.

Featured Stories

Want to see what other hedge funds are holding FRPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshpet, Inc. (NASDAQ:FRPT – Free Report).