Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,150,941 shares of the company’s stock after selling 35,236 shares during the quarter. Jennison Associates LLC’s holdings in Freshpet were worth $157,414,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in Freshpet by 5,447.4% in the first quarter. Russell Investments Group Ltd. now owns 10,651 shares of the company’s stock valued at $1,234,000 after purchasing an additional 10,459 shares during the period. Vanguard Group Inc. boosted its position in shares of Freshpet by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock worth $540,650,000 after purchasing an additional 13,709 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Freshpet during the 1st quarter worth $185,000. Seven Eight Capital LP purchased a new stake in Freshpet during the first quarter worth about $234,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Freshpet during the first quarter worth about $811,000.

Analysts Set New Price Targets

FRPT has been the subject of a number of research reports. Benchmark reissued a “buy” rating and set a $150.00 price target on shares of Freshpet in a research note on Friday, November 1st. StockNews.com lowered Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. DA Davidson increased their price objective on Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird upped their target price on shares of Freshpet from $157.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and an average price target of $157.80.

Insiders Place Their Bets

In other news, insider Thembeka Machaba sold 2,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction dated 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 of the company’s stock, valued at $12,046,320.39. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Freshpet Price Performance

FRPT stock opened at $156.38 on Wednesday. The stock has a 50-day simple moving average of $141.68 and a 200-day simple moving average of $132.98. The firm has a market cap of $7.59 billion, a P/E ratio of 175.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. Freshpet, Inc. has a 1 year low of $68.22 and a 1 year high of $159.12.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The business’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) earnings per share. On average, equities analysts predict 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.