Transcendent Capital Group LLC Makes New $1.47 Million Investment in Freshpet, Inc. (NASDAQ:FRPT)

Transcendent Capital Group LLC purchased a new stake in shares of Freshpet, Inc. (NASDAQ:FRPT) during the 3rd quarter, HoldingsChannel reports. The fund purchased 10,708 shares of the company’s stock, valued at approximately $1,465,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Driehaus Capital Management LLC boosted its stake in 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 buying an additional 141,615 shares in the last quarter. M&G Plc bought a new position in shares of Freshpet during the 2nd quarter valued at about $8,892,000. Renaissance Technologies LLC acquired a new position in shares of Freshpet in the 2nd quarter worth approximately $8,902,000. Price T Rowe Associates Inc. MD lifted its stake in Freshpet by 199.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 98,924 shares of the company’s stock valued at $11,462,000 after purchasing an additional 65,868 shares during the last quarter. Finally, Divisadero Street Capital Management LP acquired a new stake in Freshpet during the second quarter valued at approximately $7,823,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup upped their target price on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. DA Davidson lifted their price target on Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial upped their price objective on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their target price on shares of Freshpet from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.13.

Insiders Place Their Bets

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

Freshpet Trading Up 2.1 %

NASDAQ FRPT opened at $156.45 on Friday. The company has a current ratio of 4.72, a quick ratio of 3.69 and a debt-to-equity ratio of 0.41. Freshpet, Inc. has a 1-year low of $65.85 and a 1-year high of $159.12. The firm’s fifty day simple moving average is $139.37 and its 200-day simple moving average is $130.50. The company has a market capitalization of $7.59 billion, a PE ratio of 175.79 and a beta of 1.39.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same quarter in the prior year, the business posted ($0.15) EPS. Freshpet’s quarterly revenue was up 26.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Freshpet, Inc. will post 0.87 earnings per share for the current fiscal 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.