Freshpet, Inc. (NASDAQ:FRPT) Shares Acquired by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. grew its position in Freshpet, Inc. (NASDAQ:FRPT) by 230.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,300 shares of the company’s stock after acquiring an additional 16,940 shares during the quarter. Savoir Faire Capital Management L.P. owned about 0.05% of Freshpet worth $3,144,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of Freshpet in the second quarter valued at approximately $32,000. GAMMA Investing LLC boosted its holdings in shares of Freshpet by 100.8% in the first quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after acquiring an additional 132 shares during the period. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Freshpet in the first quarter valued at approximately $36,000. Johnson Financial Group Inc. acquired a new stake in shares of Freshpet in the fourth quarter valued at approximately $29,000. Finally, Whittier Trust Co. acquired a new stake in shares of Freshpet in the first quarter valued at approximately $41,000.

Wall Street Analysts Forecast Growth

FRPT has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Robert W. Baird increased their price target on Freshpet from $140.00 to $157.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Citigroup increased their price target on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price target on shares of Freshpet in a report on Tuesday, July 2nd. Finally, Bank of America increased their price target on Freshpet from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.87.

Insider Activity

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at $12,046,320.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.60% of the company’s stock.

Freshpet Trading Up 0.5 %

Shares of FRPT stock opened at $140.62 on Tuesday. Freshpet, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $143.06. The stock has a market cap of $6.81 billion, a P/E ratio of 781.22 and a beta of 1.39. The business has a fifty day simple moving average of $129.15 and a 200-day simple moving average of $122.53. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The business had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $230.99 million. During the same quarter last year, the business posted ($0.35) earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, analysts forecast that Freshpet, Inc. will post 0.72 earnings per share for the current fiscal year.

Freshpet Company 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.