Headlands Technologies LLC Cuts Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Headlands Technologies LLC trimmed its position in Freshpet, Inc. (NASDAQ:FRPT) by 56.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,093 shares of the company’s stock after selling 1,444 shares during the quarter. Headlands Technologies LLC’s holdings in Freshpet were worth $95,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Freshpet by 44.3% during the 3rd quarter. SG Americas Securities LLC now owns 8,585 shares of the company’s stock valued at $566,000 after buying an additional 2,637 shares in the last quarter. Raymond James & Associates boosted its position in shares of Freshpet by 7.9% during the 3rd quarter. Raymond James & Associates now owns 15,777 shares of the company’s stock valued at $1,039,000 after acquiring an additional 1,153 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Freshpet by 6.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,254,061 shares of the company’s stock valued at $82,617,000 after acquiring an additional 73,393 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Freshpet by 22.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,986 shares of the company’s stock worth $658,000 after purchasing an additional 1,837 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Freshpet during the third quarter valued at $3,164,000.

Wall Street Analyst Weigh In

FRPT has been the subject of a number of recent research reports. Citigroup initiated coverage on shares of Freshpet in a research note on Thursday, February 1st. They issued a “neutral” rating and a $94.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Piper Sandler upped their price objective on Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Truist Financial raised Freshpet from a “hold” rating to a “buy” rating and raised their price objective for the company from $120.00 to $135.00 in a research note on Monday, March 11th. Finally, Stifel Nicolaus boosted their target price on Freshpet from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.36.

Freshpet Trading Up 1.3 %

Shares of Freshpet stock opened at $107.75 on Tuesday. Freshpet, Inc. has a 52 week low of $54.60 and a 52 week high of $117.76. The stock’s fifty day moving average is $108.46 and its two-hundred day moving average is $87.68. The company has a quick ratio of 4.08, a current ratio of 4.79 and a debt-to-equity ratio of 0.44.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.22. Freshpet had a negative net margin of 4.38% and a negative return on equity of 3.56%. The firm had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $204.93 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. Sell-side analysts predict that Freshpet, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 7,130 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the transaction, the executive vice president now directly owns 85,056 shares in the company, valued at approximately $9,231,127.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Stephen Macchiaverna sold 7,130 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.53, for a total value of $773,818.90. Following the completion of the sale, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Scott James Morris sold 3,632 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $109.86, for a total transaction of $399,011.52. Following the transaction, the chief operating officer now directly owns 122,380 shares in the company, valued at approximately $13,444,666.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,762 shares of company stock valued at $1,737,280. 3.60% of the stock is currently owned by company insiders.

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.