Riverbridge Partners LLC Has $128.89 Million Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Riverbridge Partners LLC trimmed its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 870,246 shares of the company’s stock after selling 69,241 shares during the quarter. Freshpet makes up about 1.8% of Riverbridge Partners LLC’s investment portfolio, making the stock its 17th biggest position. Riverbridge Partners LLC owned 1.79% of Freshpet worth $128,892,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. WCM Investment Management LLC grew its position in Freshpet by 749.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,771,377 shares of the company’s stock worth $376,187,000 after acquiring an additional 2,445,199 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Freshpet by 391.5% during the third quarter. Point72 Asset Management L.P. now owns 234,626 shares of the company’s stock worth $32,090,000 after purchasing an additional 186,889 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Freshpet by 54.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 439,681 shares of the company’s stock worth $60,135,000 after purchasing an additional 154,909 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Freshpet by 24.4% in 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. Finally, Renaissance Technologies LLC bought a new position in shares of Freshpet in the second quarter valued at about $8,902,000.

Freshpet Stock Performance

Shares of NASDAQ:FRPT opened at $158.67 on Thursday. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 178.28 and a beta of 1.41. The firm’s 50 day simple moving average is $150.04 and its 200 day simple moving average is $139.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. Freshpet, Inc. has a fifty-two week low of $84.02 and a fifty-two week high of $160.91.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, November 4th. The company reported $0.24 earnings per share 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 period last year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Freshpet, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FRPT shares. Benchmark restated a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. StockNews.com cut Freshpet from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Wells Fargo & Company upped their price target on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, TD Cowen lifted their price objective on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.36.

Insiders Place Their Bets

In related news, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Scott James Morris sold 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total value of $790,650.00. Following the transaction, the president now owns 122,380 shares of the company’s stock, valued at approximately $19,351,949.40. This trade represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,500 shares of company stock worth $1,962,175. Corporate insiders own 3.70% of the company’s stock.

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.